SEC Info - Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4 - ‘FWP’ on 6/14/07 re: Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4

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Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4 – ‘FWP’ on 6/14/07 re: Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4

On: Thursday, 6/14/07, at 1:34pm ET · Accession #: 950123-7-8675 · File #: 333-140436-18

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 6/14/07  Merrill Lynch First Frank… 2007-4 FWP                    1:233K Merrill Lynch First Frank… 2007-4 RR Donnelley/FA

Free Writing Prospectus — Rule 163/433
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free Writing Prospectus                               79    463K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Principal Paydown
1	1st Page - Filing Submission
13	Principal Paydown

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                                           FREE WRITING PROSPECTUS
                                              Filed Pursuant to Rule 433
                                                  Registration No. 333-140436-18

                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 ABS NEW TRANSACTION

 FREE WRITING PROSPECTUS

$[1,550,400,000] (APPROXIMATE)

 MERRILL LYNCH FIRST FRANKLIN MORTGAGE LOAN TRUST,
 SERIES 2007-4

 MORTGAGE LOAN ASSET-BACKED CERTIFICATES

FIRST FRANKLIN FINANCIAL CORPORATION
 SPONSOR

MERRILL LYNCH MORTGAGE INVESTORS, INC.
 DEPOSITOR

HOME LOAN SERVICES, INC.
SERVICER

LASALLE BANK, NATIONAL ASSOCIATION
 TRUSTEE

JUNE 14, 2007 

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 IMPORTANT NOTICES

The depositor has filed a registration statement (including a prospectus) with  
the SEC (File no. 333-140436) for the offering to which this Free Writing       
Prospectus relates. Before you invest, you should read the prospectus in that   
registration statement and other documents the issuer has filed with the SEC for
more complete information about the issuer and this offering. You may get these 
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.        
Alternatively, the issuer, any underwriter or any dealer participating in the   
offering will arrange to send you the prospectus when it is available if you    
request it by calling the toll-free number at 1-800-248-3580.                   

This Free Writing Prospectus is not required to contain all information that is 
required to be included in the base prospectus and the prospectus supplement.   

The information in this Free Writing Prospectus is preliminary and is subject to
completion or change.                                                           

The information in this Free Writing Prospectus, if conveyed prior to the time  
of your commitment to purchase, supersedes any inconsistent information         
contained in any prior similar free writing prospectus relating to these        
securities.                                                                     

Numerous assumptions were used in preparing the Free Writing Prospectus which   
may or may not be stated therein. The Free Writing Prospectus 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 Free Writing Prospectus 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 Free Writing Prospectus. Furthermore,      
unless otherwise provided, the Free Writing Prospectus assumes no losses on the 
underlying assets and no interest shortfall. The specific characteristics of the
securities may differ from those shown in the Free Writing Prospectus due to    
differences between the actual underlying assets and the hypothetical assets    
used in preparing the Free Writing Prospectus.                                  

This communication 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 this
Free Writing Prospectus 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.                                                         

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 SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

TERM SHEET
JUNE 14, 2007 

 MERRILL LYNCH FIRST FRANKLIN MORTGAGE LOAN TRUST,
SERIES 2007-4,
MORTGAGE LOAN ASSET-BACKED CERTIFICATES,
$[1,550,400,000] (APPROXIMATE) (1)
 SUBJECT TO REVISION

                                                        [Enlarge/Download Table]

                                                               PAYMENT                          EXPECTED  STATED                  
                                               WAL (YRS)       WINDOW                             FINAL    FINAL                  
               APPROX                          (CALL(5)/      (CALL(5)/      PAYMENT  INTEREST  MATURITY MATURITY EXPECTED RATINGS
   CLASS      SIZE ($)         COUPON          MATURITY)      MATURITY)       DELAY    ACCRUAL     (5)      (6)    (S&P / MOODY'S)
---------- ------------- -------------------  ----------- ------------------ ------- ---------- -------- -------- ----------------
                                                                                                                                  
CLASS 1-A    510,274,000 LIBOR + [ ] (2), (3) 2.34 / 2.56  1 - 78 / 1 - 193     0    Actual/360   Dec-13  Jun-37    [AAA] /[Aaa]  
CLASS 2-A1   329,333,000 LIBOR + [ ] (2), (3) 1.00 / 1.00   1 - 21 / 1 - 21     0    Actual/360   Mar-09  Jun-37    [AAA] /[Aaa]  
CLASS 2-A2   169,398,000 LIBOR + [ ] (2), (3) 2.00 / 2.00  21 - 28 / 21 - 28    0    Actual/360   Oct-09  Jun-37    [AAA] /[Aaa]  
CLASS 2-A3   182,260,000 LIBOR + [ ] (2), (3) 3.50 / 3.50  28 - 71 / 28 - 71    0    Actual/360   May-13  Jun-37    [AAA] /[Aaa]  
CLASS 2-A4    67,135,000 LIBOR + [ ] (2), (3) 6.44 / 8.63 71 - 78 / 71 - 188    0    Actual/360   Dec-13  Jun-37    [AAA] /[Aaa]  
CLASS 1-M1    34,062,000 LIBOR + [ ] (2), (4) 4.69 / 5.20 43 - 78 / 43 - 156    0    Actual/360   Dec-13  Jun-37    [AA+] /[Aa1]  
CLASS 2-M1    49,938,000 LIBOR + [ ] (2), (4) 4.70 / 5.24 43 - 78 / 43 - 158    0    Actual/360   Dec-13  Jun-37    [AA+] /[Aa1]  
CLASS 1-M2    23,356,000 LIBOR + [ ] (2), (4) 4.59 / 5.07 41 - 78 / 41 - 146    0    Actual/360   Dec-13  Jun-37    [AA] /[Aa2]   
CLASS 2-M2    34,244,000 LIBOR + [ ] (2), (4) 4.59 / 5.10 41 - 78 / 41 - 147    0    Actual/360   Dec-13  Jun-37    [AA] /[Aa2]   
CLASS 1-M3    12,327,000 LIBOR + [ ] (2), (4) 4.54 / 5.00 40 - 78 / 40 - 136    0    Actual/360   Dec-13  Jun-37    [AA-]/[Aa3]   
CLASS 2-M3    18,073,000 LIBOR + [ ] (2), (4) 4.55 / 5.02 40 - 78 / 40 - 137    0    Actual/360   Dec-13  Jun-37    [AA-]/[Aa3]   
 CLASS M4     27,200,000 LIBOR + [ ] (2), (4) 4.52 / 4.97 39 - 78 / 39 - 130    0    Actual/360   Dec-13  Jun-37     [A+] /[A1]   
 CLASS M5     23,200,000 LIBOR + [ ] (2), (4) 4.50 / 4.92 39 - 78 / 39 - 124    0    Actual/360   Dec-13  Jun-37      [A]/[A2]    
 CLASS M6     15,200,000 LIBOR + [ ] (2), (4) 4.49 / 4.88 38 - 78 / 38 - 117    0    Actual/360   Dec-13  Jun-37     [A-] /[A3]   
 CLASS B1     17,600,000 LIBOR + [ ] (2), (4) 4.48 / 4.82 38 - 78 / 38 - 112    0    Actual/360   Dec-13  Jun-37   [BBB+] /[Baa1] 
 CLASS B2     14,400,000 LIBOR + [ ] (2), (4) 4.48 / 4.77 38 - 78 / 38 - 105    0    Actual/360   Dec-13  Jun-37   [BBB] /[Baa1]  
 CLASS B3     22,400,000 LIBOR + [ ] (2), (4) 4.47 / 4.66  37 - 78 / 37 - 99    0    Actual/360   Dec-13  Jun-37   [BBB-] /[Baa2] 
           -------------                                                                                                          
  TOTAL:   1,550,400,000                                                                                                          
           =============                                                                                                          

1)   The approximate size is subject to a permitted variance in the aggregate of
plus or minus 10%.                                                    

2)   Subject to the related Available Funds Cap and related Maximum Rate Cap.   

3)   If the 10% optional termination does not occur by the Determination Date   
  following the first Distribution Date on which it may occur, then on the
 following Distribution Date, the margin on each of the Class 1-A, Class
   2-A1, Class 2-A2, Class 2-A3 and Class 2-A4 Certificates will increase to
2x its respective margin.                                             

4)   If the 10% optional termination does not occur by the Determination Date   
  following the first Distribution Date on which it may occur, then on the
  following Distribution Date, the margin on each of the Class 1-M1, Class
  2-M1, Class 1-M2, Class 2-M2, Class 1-M3, Class 2-M3, Class M4,Class M5,
 Class M6, Class B1, Class B2 and Class B3 Certificates will increase to
1.5x its respective margin.                                           

5)   The Certificates will be priced at 20% HEP for the fixed rate mortgage     
     loans and at 100% PPC (2% CPR in month 1, building linearly (rounded to the
nearest hundredth) to                                                 

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 30% CPR in month 12, remaining at 30% CPR until month 22, 50% CPR, from
month 23 to month 27, and 35% CPR in month 28 and thereafter) for the 
  adjustable rate mortgage loans. Subject to a maximum prepayment speed of
95% CPR. Assumes 10% optional termination occurs.                     

6)   Latest maturity date for any mortgage loan plus one month.                 

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

CONTACTS

                                                                [Download Table]
                                                                       
MBS/ABS TRADING/SYNDICATE                                              
Scott Soltas                  212-449-3659   scott_soltas@ml.com       
Brian Kane                    212-449-3660   brian_f_kane@ml.com       
Charles Sorrentino            212-449-3659   charles_sorrentino@ml.com 
Matthew Sawatzky              212-449-3660   matthew_sawatzky@ml.com   

GLOBAL ASSET BACKED FINANCE                                            
Paul Park                     212-449-6380   paul_park@ml.com          
Tom Saywell                   212-449-2122   tom_saywell@ml.com        
Ketan Parekh                  212-449-9506   ketan_parekh@ml.com       
Fred Hubert                   212-449-5071   fred_hubert@ml.com        
Alice Chu                     212-449-1701   alice_chu@ml.com          
Sonia Lee                     212-449-5067   sonia_lee@ml.com          
Calvin Look                   212-449-5029   calvin_look@ml.com        
Yimin Ge                      212-449-9401   yimin_ge@ml.com           
Hoi Yee Leung                 212-449-1901   hoiyee_leung@ml.com       
Mark Dereska                  212-449-1008   mark_dereska@ml.com       
Joseph Lee                    212-449-0879   joseph_lee@ml.com         
Paul Fetch                    212-449-1002   paul_fetch@ml.com         
Mike Merwin                   212-449-2579   michael_merwin@ml.com     

MOODY'S                                                                
Cecilia Lam                   415-274-1727   cecilia.lam@moodys.com    

STANDARD & POOR'S                                                      
Regina Bergeland              212-438-3967   regina_bergeland@sandp.com

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
TITLE OF CERTIFICATES            Merrill Lynch First Franklin Mortgage Loan     
                                 Trust, Series 2007-4, Mortgage Loan            
                                 Asset-Backed Certificates, consisting of:      

                                 Class 1-A Certificates,                        

                                 Class 2-A1, Class 2-A2, Class 2-A3 and Class   
                                 2-A4 Certificates (collectively, the "Class 2-A
                                 Certificates" and together with the Class 1-A  
                                 Certificates, the "Class A Certificates"),     

                                 The Class 1-M1 and Class 2-M1 Certificates are 
                                 collectively known as the "Class M1            
                                 Certificates". The Class 1-M2 and Class 2-M2   
                                 Certificates are collectively known as the     
                                 "Class M2 Certificates". The Class 1-M3 and    
                                 Class 2-M3 Certificates are collectively known 
                                 as the "Class M3 Certificates".,.              
                                 Class M1, Class M2, Class M3, Class M4,        
                                 Class M5, Class M6 Certificates (collectively, 
                                 the "Class M Certificates").                   
                                 Class B1, Class B2, Class B3 Certificates      
                                 (collectively, the "Class B Certificates").    

                                 The Class 1-A, Class 1-M1, Class 1-M2, and     
                                 Class 1-M3 Certificates are collectively known 
                                 as the "Group 1 Certificates".                 

                                 The Class 2-A1, Class 2-A2, Class 2-A3 and     
                                 Class 2-A4, Class 2-M1, Class 2-M2, and Class  
                                 2-M3 are collectively known as the "Group 2    
                                 Certificates".                                 

                                 The Class A Certificates, Class M and Class B  
                                 Certificates are collectively known as the     
                                 "Offered Certificates". The Class M and Class B
                                 Certificates are collectively known as the     
                                 "Subordinate Certificates".                    

UNDERWRITER                      Merrill Lynch, Pierce, Fenner & Smith          
                                 Incorporated                                   

DEPOSITOR                        Merrill Lynch Mortgage Investors, Inc.         

SPONSOR                          First Franklin Financial Corporation           

ORIGINATOR                       First Franklin Financial Corporation           

ISSUING ENTITY                   Merrill Lynch First Franklin Mortgage Loan     
                                 Trust, Series 2007-4                           

SERVICER                         Home Loan Services, Inc.                       

TRUSTEE                          LaSalle Bank, N.A.                             

CAP PROVIDER                     [To be determined]. The Cap Provider will act  
                                 as counterparty under the Corridor Contracts   
                                 decribed herein.                               

SWAP COUNTERPARTY                [To be determined]. The Swap Counterparty will 
                                 act as counterparty under the Swap Contract    
                                 decribed herein.                               

CUT-OFF DATE                     June 1, 2007                                   

PRICING DATE                     On or about June 15, 2007                      

CLOSING DATE                     On or about June 26, 2007                      

DISTRIBUTION DATES               Distribution of principal and interest on the  
                                 Certificates will be made on the 25th day of   
                                 each month or, if such day is not a business   
                                 day, on the first business day thereafter,     
                                 commencing in July 2007.                       

DETERMINATION DATE               With respect to any Distribution Date, the 15th
                                 day of the month of such Distribution Date or, 
                                 if such 15th day is not a business day, the    
                                 immediately preceding business day.            

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
ERISA CONSIDERATIONS             The Offered Certificates will be ERISA eligible
                                 as of the Closing Date. However, while any     
                                 interest rate swap agreement is in effect,     
                                 employee benefit plans or other retirement     
                                 arrangements may not acquire the certificates  
                                 covered thereby unless such acquisition and    
                                 holding is covered by and exempt under one of  
                                 the investor-based exemptions issued by the    
                                 Department of Labor. Investors should consult  
                                 with their counsel with respect to the         
                                 consequences under ERISA and the Internal      
                                 Revenue Code of an ERISA Plan's acquisition and
                                 ownership of such Offered Certificates.        

LEGAL INVESTMENT                 The Class A, Class M1, Class M2 and Class M3   
                                 Certificates will and the remaining classes of 
                                 Subordinate Certificates will not constitute   
                                 "mortgage-related securities" for the purposes 
                                 of SMMEA.                                      

TAX STATUS                       For federal income tax purposes, the Trust Fund
                                 will include two or more segregated asset      
                                 pools, with respect to which elections will be 
                                 made to treat each as a "real estate mortgage  
                                 investment conduit" ("REMIC").                 

OPTIONAL TERMINATION             The Servicer may purchase all of the remaining 
                                 assets of the issuing entity on any            
                                 distribution date on or after the first        
                                 distribution date on which the aggregate stated
                                 principal balance of the Mortgage Loans is less
                                 than or equal to 10% of the aggregate stated   
                                 principal balance of the Mortgage Loans as of  
                                 the Cut-Off Date. Any such purchase will only  
                                 occur if the purchase price is equal to the sum
                                 of (i) the aggregate outstanding principal     
                                 balance of the Mortgage Loans (or if such      
                                 mrotageg loan is an REO property, the fair     
                                 market value of such REO property), plus       
                                 accrued interest on the Mortgage Loans, (ii)   
                                 any unreimbursed out-of-pocket costs and       
                                 expenses of the Servicer and the Trustee and   
                                 the principal portion of Advances, previously  
                                 incurred by the Servicer in the performance of 
                                 its servicing obligations and (iii) any Net    
                                 Swap Payment or any swap termination payment   
                                 owed to the Swap Counterparty pursuant to the  
                                 Swap Contract.                                 

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
MORTGAGE LOANS                   The statistical information relating to the    
                                 mortgage loans described herein is based on a  
                                 pool of mortgage loans (the "Statistical       
                                 Mortgage Loans") consisting of 7,936 conforming
                                 and non-conforming, fixed rate and adjustable  
                                 rate, conventional closed-end Mortgage Loans   
                                 with an aggregate principal balance of         
                                 approximately $1,682,285,442, secured by first 
                                 lien, level pay, interest only, non interest   
                                 only, fully amortizing and balloon mortgages on
                                 conventional one to four family residential    
                                 properties. As of the Closing Date, the        
                                 mortgage loans to be transferred to the Issuing
                                 Entity (the "Mortgage Loans") will include the 
                                 Statistical Mortgage Loans and additional      
                                 mortgage loans so that as of the Closing Date, 
                                 the total pool of Mortgage Loans transferred to
                                 the Issuing Entity (the "Mortgage Pool") will  
                                 have an aggregate principal balance of         
                                 approximately $1,600,000,000. The Mortgage Pool
                                 will have characteristics and a statistical    
                                 composition that will be substantially similar 
                                 to the Statistical Mortgage Loans described    
                                 herein. See the attached Appendix for          
                                 additional information on the Statistical      
                                 Mortgage Loans.                                

                                 The collateral information presented in this   
                                 Free Writing Prospectus regarding the          
                                 Statistical Mortgage Loans is as of June 1,    
                                 2007. The information regarding the Statistical
                                 Mortgage Loans is based on the principal       
                                 balance of the Statistical Mortgage Loans as of
                                 the Cut-off Date assuming the timely receipt of
                                 principal scheduled to be paid on the          
                                 Statistical Mortgage Loans on or prior to the  
                                 Cut-Off Date. It is possible that principal    
                                 prepayments in part or in full may occur       
                                 between the Cut-off Date and the Closing Date. 
                                 Moreover, certain Statistical Mortgage Loans   
                                 included in the attached Appendix may not be   
                                 included in the Mortgage Pool due to           
                                 prepayments in full, or as a result of not     
                                 meeting the eligibility requirements for the   
                                 Mortgage Pool. As a result of the foregoing,   
                                 the statistical distribution of characteristics
                                 as of the Cut-off Date and as of the Closing   
                                 Date for the Mortgage Pool may vary somewhat   
                                 from the statistical distribution of such      
                                 characteristics as of the Cut-off Date as      
                                 presented herein, although such variance should
                                 not be material.                               

                                 The Mortgage Pool will be divided into two     
                                 groups:                                        

                                 -    The Statistical Mortgage Loans in Group I 
                                      will consist of approximately 3,238 fixed 
                                      rate and adjustable rate Mortgage Loans   
                                      with an aggregate stated principal balance
                                      of approximately $682,157,720 and with    
                                      stated principal balances at origination  
                                      that conform to principal balance limits  
                                      of Fannie Mae.                            

                                 -    The Statistical Mortgage Loans in Group II
                                      will consist of approximately 4,698 fixed 
                                      rate and adjustable rate Mortgage Loans   
                                      with an aggregate stated principal balance
                                      of approximately $1,000,127,722 and with  
                                      stated principal balances at origination  
                                      that may or may not conform to principal  
                                      balance limits of Fannie Mae.             

TOTAL DEAL SIZE                  Approximately $[1,550,400,000]                 

ADMINISTRATIVE FEES              Fees aggregating 50.00 bps per annum (payable  
                                 monthly) on the stated principal balance of the
                                 Mortgage Loans serviced by Home Loan Services, 
                                 Inc.                                           

CREDIT ENHANCEMENTS              1.   Excess interest                           

                                 2.   Over-Collateralization                    

                                 3.   Subordination                             

EXCESS INTEREST                  Excess interest cashflow will be available as  
                                 credit enhancement.                            

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
OVER-COLLATERALIZATION           The over-collateralization ("O/C") amount is   
                                 equal to the excess of the aggregate principal 
                                 balance of the Mortgage Loans over the         
                                 aggregate principal balance of the             
                                 Certificates. On the Closing Date, the         
                                 over-collateralization amount will equal       
                                 approximately [3.10]% of the aggregate         
                                 principal balance of the Mortgage Loans as of  
                                 the Cut-Off Date. To the extent the            
                                 over-collateralization amount is reduced below 
                                 the over-collateralization target amount (i.e.,
                                 [3.10]% of the aggregate principal balance of  
                                 the Mortgage Loans as of the Cut-Off Date),    
                                 excess cashflow will be directed to build O/C  
                                 until the over-collateralization target amount 
                                 is restored.                                   

                                 Initial: Approximately [3.10]% of the aggregate
                                 stated principal balance of the Mortgage Loans 
                                 as of the Cut-Off Date                         

                                 Target: [3.10]% of the aggregate stated        
                                 principal balance of the Mortgage Loans as of  
                                 the Cut-Off Date before stepdown, [6.20]% of   
                                 the current stated principal balance of the    
                                 Mortgage Loans after stepdown Floor: [0.50]% of
                                 the aggregate stated principal balance of the  
                                 Mortgage Loans as of the Cut-Off Date          

                                 (PRELIMINARY AND SUBJECT TO REVISION)          

SUBORDINATION (1):                CLASSES   RATING (S/M)   SUBORDINATION        
                                 --------   ------------   -------------        
                                  Class A      AAA/Aaa        [21.35%]          
                                 Class M1      AA+/Aa1        [16.10%]          
                                 Class M2       AA/Aa2        [12.50%]          
                                 Class M3      AA-/Aa3        [10.60%]          
                                 Class M4       A+/A1          [8.90%]          
                                 Class M5       A/A2           [7.45%]          
                                 Class M6       A-/A3          [6.50%]          
                                 Class B1     BBB+/Baa1        [5.40%]          
                                 Class B2     BBB/Baa2         [4.50%]          
                                 Class B3     BBB-/Baa3        [3.10%]          

CLASS SIZES:                      CLASSES   RATING (S/M)    CLASS SIZES         
                                 --------   ------------   -------------        
                                  Class A      AAA/Aaa        [78.65%]          
                                 Class M1      AA+/Aa1         [5.25%]          
                                 Class M2      AA/Aa2          [3.60%]          
                                 Class M3      AA-/Aa3         [1.90%]          
                                 Class M4       A+/A1          [1.70%]          
                                 Class M5       A/A2           [1.45%]          
                                 Class M6       A-/A3          [0.95%]          
                                 Class B1     BBB+/Baa1        [1.10%]          
                                 Class B2      BBB/Baa1        [0.90%]          
                                 Class B3     BBB-/Baa3        [1.40%]          

(1)  The subordination includes the initial over-collateralization level of     
     approximately [3.10]%.                                                     

INTEREST ACCRUAL                 Interest on the Offered Certificates will      
                                 initially accrue from the Closing Date to (but 
                                 excluding) the first Distribution Date, and    
                                 thereafter, from the prior Distribution Date to
                                 (but excluding) the current Distribution Date, 
                                 on an actual/360 basis                         

COUPON STEP UP                   If the 10% optional termination does not occur 
                                 by the Determination Date following the first  
                                 Distribution Date on which it is possible, (i) 
                                 the margin on each class of the Class A        
                                 Certificates will increase to 2x its respective
                                 margin, and (ii) the margin on each class of   
                                 the Subordinate Certificates will increase to  
                                 1.5x its respective margin, in each case on the
                                 following Distribution Date.                   

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
SWAP CONTRACT                    The supplemental interest trust, for the       
<PRELIMINARY AND                 benefit of the Issuing Entity, will include a  
SUBJECT TO REVISION>             swap derivative contract for the benefit of the
                                 Certificates (the "Swap Contract") to (i)      
                                 protect against interest rate risk from upward 
                                 movement in one-month LIBOR, (ii) diminish     
                                 basis risk associated with the hybrid          
                                 adjustable-rate mortgage loans and (iii)       
                                 provide additional credit enhancement in       
                                 respect of the Certificates. On each           
                                 Distribution Date, the supplemental interest   
                                 trust will be required to make payments to the 
                                 Swap Counterparty based on the applicable fixed
                                 rate and on the applicable notional balance for
                                 the Distribution Date specified in the Swap    
                                 Contract Schedule set out herein and the       
                                 supplemental interest trust will be entitled to
                                 receive payments from the Swap Counterparty    
                                 based on one-month LIBOR and the applicable    
                                 notional balance for the Distribution Date     
                                 specified in the Swap Contract Schedule set out
                                 herein. The payments from the supplemental     
                                 interest trust to the Swap Counterparty and    
                                 from the Swap Counterparty to the supplemental 
                                 interest trust on each Distribution Date will  
                                 be netted so that only the net payment (the    
                                 "Net Swap Payment") will be paid by the party  
                                 owing the higher of the two payments on such   
                                 Distribution Date. Any Net Swap Payment        
                                 received from the Swap Counterparty will be    
                                 available to pay current interest and any      
                                 interest shortfalls, to build or maintain      
                                 over-collateralization, to pay any unpaid      
                                 realized loss amounts and to pay any basis risk
                                 shortfalls on the relevant Distribution Date.  

AVAILABLE FUNDS CAPS             Group 1 Available Funds Cap: The per annum rate
                                 equal to the product of (i) 12, (ii) the       
                                 quotient of (x) the total scheduled interest   
                                 due on the Group I Mortgage Loans based on the 
                                 Net Mortgage Rates in effect on the related due
                                 date, less the pro rata portion (calculated    
                                 based on the ratio of the Group I Mortgage     
                                 Loans to the total pool of Mortgage Loans)     
                                 allocable to the Group I Mortgage Loans of any 
                                 Net Swap Payments or Swap Termination Payments 
                                 (other than defaulted swap termination         
                                 payments) owed to the Swap Counterparty for    
                                 such distribution date, and (y) the aggregate  
                                 stated principal balance of the Group I        
                                 Mortgage Loans as of the first day of the      
                                 related accrual period and (iii) a fraction,   
                                 the numerator of which is 30, and the          
                                 denominator of which is the actual number of   
                                 days in the related accrual period.            

                                 Group 2 Available Funds Cap: The per annum rate
                                 equal to the product of (i) 12, (ii) the       
                                 quotient of (x) the total scheduled interest   
                                 due on the Group II Mortgage Loans based on the
                                 Net Mortgage Rates in effect on the related due
                                 date, less the pro rata portion (calculated    
                                 based on the ratio of the Group II Mortgage    
                                 Loans to the total pool of Mortgage Loans)     
                                 allocable to the Group II Mortgage Loans of any
                                 Net Swap Payments or Swap Termination Payments 
                                 (other than defaulted swap termination         
                                 payments) owed to the Swap Counterparty for    
                                 such distribution date, and (y) the aggregate  
                                 stated principal balance of the Group II       
                                 Mortgage Loans as of the first day of the      
                                 related accrual period and (iii) a fraction,   
                                 the numerator of which is 30, and the          
                                 denominator of which is the actual number of   
                                 days in the related accrual period.            

                                 Class M4, Class M5, Class M6, and Class B      
                                 Available Funds Cap: The per annum rate equal  
                                 to the weighted average (weighted in proportion
                                 to the results of subtracting from the         
                                 aggregate principal balance of each loan group 
                                 the current principal balance of the related   
                                 Group 1 or Group 2 Certificates) of the Group 1
                                 Available Funds Cap and the Group 2 Available  
                                 Funds Cap.                                     

                                 "Net Mortgage Rate" means, with respect to any 
                                 Mortgage Loan the mortgage interest rate on    
                                 such Mortgage Loan less the administrative     
                                 fees.                                          

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
CORRIDOR CONTRACTS       The Offered Certificates will also each have           
                         the benefit of one of the three corridor               
                         contracts (each a, "Corridor Contract") as             
                         specified below:                                       

                                                                           1ML  
                                                                          LIBOR 
                                                 NUMBER     BEGINNING    STRIKE,
                                                   OF     DISTRIBUTION    UPPER 
                         CLASS                   MONTHS       DATE       COLLAR 
                         -----                   ------   ------------   -------
                         Group 1 Certificates       6       July 2007    10.320%
                         Group 2 Certificates       6       July 2007     8.380%
                         Class M4, Class M5,                                    
                         Class M6, and Class B                                  
                         Certificates               6       July 2007    10.830%

                         Payments received on the related Corridor              
                         Contract will be available to pay amounts to           
                         the holders of the related Certificates, only          
                         in respect of shortfalls arising as a result of        
                         the applicable Available Funds Cap, as                 
                         described herein (except to the extent                 
                         attributable to the fact that Realized Losses          
                         are not allocated to the Class A Certificates          
                         after the Subordinate Certificates have been           
                         written down to zero).                                 

MAXIMUM RATE CAPS        The pass-through rates of each of the Offered          
                         Certificates will also be subject to a related         
                         "Maximum Rate Cap", which will be calculated in        
                         the same manner as the related Available Funds         
                         Cap, but based on the net maximum mortgage rate        
                         rather than the net mortgage rate. Any interest        
                         shortfall due to the Maximum Rate Caps will not        
                         be reimbursed.                                         

SHORTFALL REIMBURSEMENT  With respect to any Class of Certificates on           
                         any Distribution Date, an amount equal to the          
                         sum of (A) the excess, if any, of (1) the              
                         amount of interest that such Class would have          
                         accrued on such Distribution Date had the              
                         pass-through rate for that Class been equal to         
                         the lesser of (a) LIBOR plus the related margin        
                         and (b) the greater of (x) the related Maximum         
                         Rate Cap for such Distribution Date and (y) a          
                         per annum rate equal to the sum of (i) the             
                         related Available Funds Cap and (ii) the               
                         product of (AA) a fraction, stated as a                
                         percentage, the numerator of which is 360 and          
                         the denominator of which is the actual number          
                         of days in the related Accrual Period and (BB)         
                         the sum of (x) a fraction, stated as a                 
                         percentage, the numerator of which is an amount        
                         equal to the proceeds, if any, payable under           
                         the related Corridor Contract with respect to          
                         such Distribution Date and the denominator of          
                         which is the aggregate certificate principal           
                         balance of the related Class or Classes of             
                         Certificates immediately prior to such                 
                         Distribution Date and (y) a fraction, as stated        
                         as a percentage, the numerator of which is an          
                         amount equal to any Net Swap Payments owed by          
                         the Swap Counterparty for such Distribution            
                         Date and the denominator of which is the               
                         aggregate stated principal balance of the              
                         Mortgage Loans as of the immediately preceding         
                         Distribution Date, over (2) the amount of              
                         interest that each such Class accrued on such          
                         Distribution Date based on a pass-through rate         
                         equal to the related Available Funds Cap and           
                         (B) the unpaid portion of any such excess from         
                         the prior Distribution Date (and interest              
                         accrued thereon at the current applicable              
                         pass-through rate for such Class, without              
                         giving effect to the related Available Funds           
                         Cap) (herein referred to as a "Carryover").            
                         Such reimbursement will be paid only on a              
                         subordinated basis, as described below in the          
                         "Cashflow Priority" section. No such Carryover         
                         with respect to a Class will be paid to such           
                         Class once the certificate principal balance           
                         thereof has been reduced to zero.                      

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
CASHFLOW PRIORITY                1.   Repayment of any unreimbursed Servicer    
                                      advances.                                 

                                 2.   Administrative Fees and Trustee Fees, as  
                                      applicable.                               

                                 3.   Available interest funds, as follows: to  
                                      pay to the Swap Counterparty any Net Swap 
                                      Payment or any swap termination payment   
                                      owed to the Swap Counterparty pursuant to 
                                      the Swap Contract in the event that the   
                                      supplemental interest trust is the        
                                      defaulting party or an affected party     
                                      under the Swap Contract.                  

                                 4.   Available interest funds not used as      
                                      provided in paragraph 3 above, as follows:
                                      monthly interest, including any unpaid    
                                      monthly interest from prior months,       
                                      concurrently, on a pro rata basis to each 
                                      class of the Class A Certificates; then   
                                      monthly interest, including any unpaid    
                                      monthly interest from prior months,       
                                      sequentially, on a pro rata basis to each 
                                      class of the Class M1 Certificates, then  
                                      on a pro rata basis to each class of the  
                                      Class M2 Certificates, then on a pro rata 
                                      basis to each class of the Class M3       
                                      Certificates, then to the Class M4        
                                      Certificates, then to the Class M5        
                                      Certificates, then to the Class M6        
                                      Certificates, then to the Class B1        
                                      Certificates, then to the Class B2        
                                      Certificates, and then to the Class B3    
                                      Certificates.                             

                                 5.   Available principal funds, as follows: to 
                                      the extent not paid pursuant to paragraph 
                                      3 above, any Net Swap Payment or swap     
                                      termination payment owed to the Swap      
                                      Counterparty pursuant to the Swap Contract
                                      in the event that the supplemental        
                                      interest trust is the defaulting party or 
                                      an affected party under the Swap Contract,
                                      then monthly principal to the Class A     
                                      Certificates as described under "PRINCIPAL
                                      PAYDOWN", then sequentially, monthly      
                                      principal to the Class M1 Certificates,   
                                      then monthly principal to the Class M2    
                                      Certificates, then monthly principal to   
                                      the Class M3 Certificates, then monthly   
                                      principal to the Class M4 Certificates,   
                                      then monthly principal to the Class M5    
                                      Certificates, then monthly principal to   
                                      the Class M6 Certificates, then monthly   
                                      principal to the Class B1 Certificates,   
                                      then monthly principal to the Class B2    
                                      Certificates, then monthly principal to   
                                      the Class B3 Certificates, in each case as
                                      described under "PRINCIPAL PAYDOWN."      

                                 6.   Excess interest in the order as described 
                                      under "PRINCIPAL PAYDOWN" if necessary to 
                                      restore O/C to the required level.        

                                 7.   Excess interest to pay subordinate        
                                      principal shortfalls.                     

                                 8.   Excess interest to pay Carryover resulting
                                      from imposition of the related Available  
                                      Funds Cap.                                

                                 9.   Excess interest to pay to the Swap        
                                      Counterparty any remaining amounts owing  
                                      to the Swap Counterparty pursuant to the  
                                      Swap Contract.                            

                                 10.  Any remaining amount will be paid in      
                                      accordance with the Pooling and Servicing 
                                      Agreement and will not be available for   
                                      payment to holders of the Offered         
                                      Certificates.                             

                                 Payments received on the related Corridor      
                                 Contracts will only be available to the related
                                 classes of Certificates to pay amounts in      
                                 respect of Carryovers other than any Carryovers
                                 resulting from the fact that realized losses   
                                 are not allocated to the Class A Certificates  
                                 after the Subordinate Certificates have been   
                                 written down to zero. Any excess of amounts    
                                 received on the related Corridor Contracts over
                                 amounts needed to pay such Carryovers on the   
                                 related classes of Certificates will be        
                                 distributed in respect of other classes of     
                                 certificates not described herein.             

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

PRINCIPAL PAYDOWN                                                               

IF THE SUBORDINATE CLASS PRINCIPAL DISTRIBUTION TEST IS NOT MET:                

  All scheduled and unscheduled principal received from the Mortgage Loans
  plus excess spread to the extent distributable as principal to replenish
O/C to the required level will be paid to the Class A Certificates, as
follows:                                                              

 1)   The Group I Principal Distribution Percentage of (i) scheduled and
          unscheduled principal received from the Mortgage Loans and (ii) excess
       spread to the extent distributable as principal to replenish O/C to
  the required level will be paid to the Class 1-A Certificates.

  2)   The Group II Principal Distribution Percentage of (i) scheduled and
          unscheduled principal received from the Mortgage Loans and (ii) excess
       spread to the extent distributable as principal to replenish O/C to
  the required level will be paid to the Class 2-A Certificates.

Group I Principal Distribution Percentage means with respect to any   
     Distribution Date, the fraction expressed as a percentage, the numerator of
  which is the amount of scheduled and unscheduled principal received with
  respect to Group I Mortgage Loans and distributable on such Distribution
Date, and the denominator of which is the amount of scheduled and     
unscheduled principal received from all of the Mortgage Loans and     
distributable on such Distribution Date.                              

Group II Principal Distribution Percentage means with respect to any  
     Distribution Date, the fraction expressed as a percentage, the numerator of
  which is the amount of scheduled and unscheduled principal received with
   respect to Group II Mortgage Loans and distributable on such Distribution
Date, and the denominator of which is the amount of scheduled and     
unscheduled principal received from all of the Mortgage Loans and     
distributable on such Distribution Date.                              

 Principal distributions allocated to the Class 2-A Certificates will be
distributed sequentially to the Class 2-A1, Class 2-A2, Class 2-A3 and
Class 2-A4 Certificates; provided however, that on and after the      
   Distribution Date on which the aggregate certificate principal balance of
    Subordinate Certificates and the Class C Certificates have been reduced to
     zero, any principal distributions will be distributed pro rata to the Class
2-A1, Class 2-A2, Class 2-A3 and Class 2-A4 Certificates.             

  After the certificate principal balance of either the Class 1-A or Class
   2-A Certificates has been reduced to zero, the amounts remaining referred
     to in (1) or (2) above, as applicable, will be distributed to the Class 1-A
 or Class 2-A Certificates (i.e., whichever such class or classes remain
   outstanding), as the case may be, according to the principal distribution
allocation aforementioned. After the aggregate certificate principal  
balance of each of the Class 1-A and Class 2-A Certificates has been  
 reduced to zero, the amounts remaining referred to in (1) and (2) above
will be distributed sequentially to the Class M-1, Class M2, Class M3,
    Class M4, Class M5, Class M5, Class B1, Class B2 and Class B3 Certificates
    in each case, until reduced to zero (subject, in the case of the Class M1,
Class M2, and Class M-3 Certificates, to the priorities below).       

  Amounts distributed to the Class M1, Class M2, and Class M3 Certificates
will be paid as follows:                                              

     1)   The Group I Principal Distribution Percentage of amounts distributable
        to the Class M1, Class M2, and Class M3 Certificates will be paid to
         the Class 1-M1, Class 1-M2, and Class 1-M3 Certificates respectively.

2)   The Group II Principal Distribution Percentage of amounts        
      distributable to the Class M1, Class M2, and Class M3 Certificates
will be paid to the Class 2-M1, Class 2-M2, and Class 2-M3  
Certificates respectively.                                  

    Notwithstanding the foregoing, in the event that the certificate principal
   balance of any class of the Class M1, Class M2, and Class M3 Certificates
is reduced to zero while the other class of Class M Certificates of   
 equivalent priority remains outstanding (e.g., the Class 1-M3 and Class
   2-M3 Certificates are of equivalent priority), the amounts referred to in
 (1) and (2) immediately above will be distributed to whichever class of
    Class M Certificates of equivalent priority remains outstanding until such
class's certificate principal balance has been reduced to zero.       

IF THE SUBORDINATE CLASS PRINCIPAL DISTRIBUTION TEST IS MET:                    

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

    All Certificates will be entitled to receive payments of principal, in the
   following order of priority: first to the Class A Certificates, second to
  the Class M1 Certificates, third to the Class M2 Certificates, fourth to
     the Class M3 Certificates, fifth to the Class M4 Certificates, sixth to the
    Class M5 Certificates, seventh to the Class M6 Certificates, eighth to the
    Class B1 Certificates, ninth to the Class B2 Certificates and tenth to the
     Class B3 Certificates, in each case up to amounts necessary to maintain the
     subordination for each class at its required level. Such required levels of
subordination are approximately as follows:                           

                                                                [Download Table]
                    
CLASS A    [42.70%*]
CLASS M1   [32.20%*]
CLASS M2   [25.00%*]
CLASS M3   [21.20%*]
CLASS M4   [17.80%*]
CLASS M5   [14.90%*]
CLASS M6   [13.00%*]
CLASS B1   [10.80%*]
CLASS B2   [9.00%*] 
CLASS B3   [6.20%*] 

*    includes 2x the overcollateralization of [3.10]%                           

    The Class 1-A Certificates and the Class 2-A Certificates will be entitled
  to receive the Group I Principal Distribution Percentage or the Group II
Principal Distribution Percentage, as applicable, of the amount of    
principal to which the Class A Certificates are entitled to receive.  

The Class 1-M1 Certificates and the Class 2-M1 Certificates will be   
  entitled to receive the Group I Principal Distribution Percentage or the
     Group II Principal Distribution Percentage, as applicable, of the amount of
principal to which the Class M1 Certificates are entitled to receive. 

The Class 1-M2 Certificates and the Class 2-M2 Certificates will be   
  entitled to receive the Group I Principal Distribution Percentage or the
     Group II Principal Distribution Percentage, as applicable, of the amount of
principal to which the Class M2 Certificates are entitled to receive. 

The Class 1-M3 Certificates and the Class 2-M3 Certificates will be   
  entitled to receive the Group I Principal Distribution Percentage or the
     Group II Principal Distribution Percentage, as applicable, of the amount of
principal to which the Class M3 Certificates are entitled to receive. 

THE SUBORDINATE CLASS PRINCIPAL DISTRIBUTION TEST IS MET IF:                    

1)   The Distribution Date is on or after the earlier of:                       

i)   the first Distribution Date on which the aggregate certificate   
      principal balance of the Class 1-A and Class 2-A Certificates have
been reduced to zero; and                                   

ii)  the later of the:                                                

a.   July 2010 Distribution Date; and                       

         b.   the applicable Subordinate Class Principal Distribution Date has
occurred (as described below); and                

2)   A Step Down Loss Trigger Event does not exist.                             

                                                                [Download Table]
                                                                                
SUBORDINATE CLASS     The first Distribution Date on which the senior           
PRINCIPAL             enhancement percentage (i.e., the sum of the outstanding  
DISTRIBUTION DATE     principal balance of the Subordinate Certificates and the 
                      O/C amount divided by the aggregate stated principal      
                      balance of the Mortgage Loans, as of the end of the       
                      related due period) is greater than or equal to the Senior
                      Specified Enhancement Percentage (including O/C), which is
                      equal to two times the initial Class A subordination      
                      percentage.                                               

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                        
SENIOR SPECIFIED ENHANCEMENT PERCENTAGE:
[42.70]%                                
or                                      
([18.25]%+[3.10]%)*2                    

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                                                  
STEPDOWN LOSS        The situation that exists with respect to any Distribution                                   
TRIGGER EVENT        Date on or after the Stepdown Date, if (a) the quotient of                                   
(PRELIMINARY AND     (1) the aggregate stated principal balance of all Mortgage                                   
SUBJECT TO           Loans 60 or more days delinquent, measured on a rolling                                      
REVISION)            three month basis (including Mortgage Loans in foreclosure                                   
                     and REO Properties) and (2) the stated principal balance                                     
                     of all the Mortgage Loans as of the preceding Servicer                                       
                     Remittance Date, equals or exceeds the product of (i)                                        
                     [37.47]% and (ii) the Required Percentage or (b) the                                         
                     quotient (expressed as a percentage) of (1) the aggregate                                    
                     Realized Losses incurred from the Cut-off Date through the                                   
                     last day of the calendar month preceding such Distribution                                   
                     Date and (2) the aggregate principal balance of the                                          
                     Mortgage Loans as of the Cut-off Date exceeds the Required                                   
                     Loss Percentage shown below.                                                                 

                     DISTRIBUTION DATE OCCURRING   REQUIRED LOSS PERCENTAGE                                       
                     ---------------------------   ------------------------                                       
                     July 2009 - June 2010         [1.45]% with respect to July 2009, plus an additional 1/12th   
                                                   [1.80]% for each month thereafter                              
                     July 2010 - June 2011         [3.25]% with respect to July 2010, plus an additional 1/12th of
                                                   [1.85]% for each month thereafter                              
                     July 2011 - June 2012         [5.10]% with respect to July 2011, plus an additional 1/12th of
                                                   [1.50]% for each month thereafter                              
                     July 2012 - June 2013         [6.60]% with respect to July 2012, plus an additional 1/12th of
                                                   [0.80]% for each month thereafter                              
                     July 2013 - June 2014         [7.40]% with respect to July 2013, plus an additional 1/12th of
                                                   [0.05]% for each month thereafter                              
                     July 2014 and thereafter      [7.45]%                                                        

                     (PRELIMINARY AND SUBJECT TO REVISION)                                                        

REQUIRED PERCENTAGE  For any Distribution Date, (i) the aggregate stated                                          
                     principal balance of the Mortgage Loans as of the prior                                      
                     Distribution Date less the outstanding certificate                                           
                     principal balance of the most senior class of certificates                                   
                     (for purposes of this calculation, the Class A                                               
                     Certificates are considered as a single class) prior to                                      
                     any distributions on such Distribution Date divided by                                       
                     (ii) the aggregate stated principal balance of the                                           
                     Mortgage Loans as of the prior Distribution Date.                                            

ALLOCATION OF        The principal portion of realized losses on the Mortgage                                     
REALIZED LOSSES      Loans will be allocated as follows: first, to excess                                         
                     interest, second, to the O/C Amount, until the O/C Amount                                    
                     is reduced to zero; third, to the Class B Certificates in                                    
                     reverse order of their numerical class designation until                                     
                     the respective certificate principal balance of each such                                    
                     class has been reduced to zero; fourth, to the Class M6                                      
                     Certificate until the certificate principal balance of                                       
                     each such class has been reduced to zero; fifth, to the                                      
                     Class M5 Certificate until the certificate principal                                         
                     balance of such class has been reduced to zero; sixth, to                                    
                     the Class M4 Certificate until the certificate principal                                     
                     balance of such class has been reduced to zero; seventh,                                     
                     on a pro rata basis based on their respective outstanding                                    
                     certificate principal balances on a Distribution Date                                        
                     after giving effect to any distributions of principal to                                     
                     such certificates on such Distribution Date, to each class                                   
                     of the Class M3 Certificates until the respective                                            
                     certificate principal balance of each such class has been                                    
                     reduced to zero; eighth, on a pro rata basis based on                                        
                     their respective outstanding certificate principal                                           
                     balances on a Distribution Date after giving effect to any                                   
                     distributions of principal to such certificates on such                                      
                     Distribution Date, to each class of the Class M2                                             
                     Certificates until the respective certificate principal                                      
                     balance of each such class has been reduced to zero; and                                     
                     ninth, on a pro rata basis based on their respective                                         
                     outstanding certificate principal balances on a                                              
                     Distribution Date after giving effect to any distributions                                   
                     of principal to such certificates on such Distribution                                       
                     Date, to each class of the Class M1 Certificates until the                                   
                     respective certificate principal balance of each such                                        
                     class has been reduced to zero.                                                              

                     Realized losses are NOT allocated to the Class A                                             
                     Certificates after the certificate principal balance of                                      
                     each class of the Subordinate Certificates has been                                          
                     reduced to zero.                                                                             

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                                [Download Table]
                                                                                
PROSPECTUS            The Offered Certificates will be offered pursuant to a    
                      Prospectus which includes a Prospectus Supplement         
                      (together, the "Prospectus"). Sales of the Offered        
                      Certificates may not be consummated unless the purchaser  
                      has received the Prospectus.                              

MORTGAGE LOAN TABLES  The following tables in the Appendix describe the         
                      Statistical Mortgage Loans and the related mortgaged      
                      properties as of the close of business on the Cut-off     
                      Date. The Mortgage Pool will contain Mortgage Loans that  
                      have a total principal balance as of the Cut-off Date of  
                      approximately $1,600,000,000. The pool of Mortgage Loans  
                      to be delivered on the Closing Date will have             
                      characteristics and a statistical composition that will be
                      substantially similar to the Statistical Mortgage Loans   
                      described herein. The sum of the columns below may not    
                      equal the total indicated due to rounding.                

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

                                                                              17

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 GROUP I FIXED RATE MORTGAGE LOANS

                                                        [Enlarge/Download Table]

                                                           ORIGINAL       REMAINING     ORIGINAL   REMAINING   ORIGINAL 
                                                         AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-   MONTHS TO
                            NET    ORIGINAL  REMAINING       TERM            TERM         ONLY        ONLY    PREPAYMENT
   CURRENT     MORTGAGE  MORTGAGE    TERM       TERM    (LESS IO-TERM)  (LESS IO-TERM)    TERM        TERM      PENALTY 
 BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)   (MONTHS)     (MONTHS)        (MONTHS)     (MONTHS)    (MONTHS)  EXPIRATION
-------------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------  ----------
                                                                                                                        
    86,453.82    8.850     8.350      360       360           480             480            0          0         36    
   133,389.97    9.800     9.300      360       359           600             599            0          0         24    
 1,112,524.68    9.616     9.116      360       360           600             600            0          0         36    
 2,569,361.83    9.785     9.285      360       360           360             360            0          0         36    
    83,029.90    9.850     9.350      360       359           300             300           60         59         36    
    68,478.27   11.950    11.450      360       359           480             479            0          0         24    
   400,835.66   10.027     9.527      360       360           480             480            0          0         36    
   676,455.00    9.325     8.825      360       359           600             599            0          0         36    
 2,091,393.00    9.192     8.692      360       359           360             359            0          0         36    
   132,676.65   10.350     9.850      360       360           480             480            0          0         12    
   385,047.62    8.154     7.654      360       360           480             480            0          0         36    
   122,404.91   11.500    11.000      360       360           600             600            0          0         24    
   515,394.11    9.708     9.208      360       359           600             599            0          0         36    
   130,108.72    8.400     7.900      360       360           360             360            0          0         36    
   516,392.75    9.222     8.722      360       360           480             480            0          0         24    
   724,894.82    9.271     8.771      360       359           600             599            0          0         24    
 3,204,752.36    9.081     8.581      360       360           360             360            0          0         24    
   302,772.88    8.836     8.336      360       359           480             479            0          0         36    
   219,796.23   10.325     9.825      360       360           600             600            0          0         36    
   126,256.81   10.450     9.950      360       359           360             359            0          0         24    
 1,508,813.15    9.776     9.276      360       359           360             359            0          0         36    
   186,127.75    9.700     9.200      360       360           480             480            0          0         36    
   119,836.98    8.990     8.490      360       360           480             480            0          0         36    
   847,085.73    9.230     8.730      360       359           600             599            0          0         36    
   107,472.84    9.250     8.750      180       179           180             179            0          0         36    
 2,198,104.97    9.202     8.702      360       360           360             360            0          0         36    
    99,117.54    9.950     9.450      360       359           480             479            0          0         36    
   199,538.08    9.717     9.217      360       359           600             599            0          0         36    
   125,543.50    8.400     7.900      360       359           360             359            0          0         24    
 1,412,040.99    9.131     8.631      360       359           360             359            0          0         36    
 1,721,897.56    8.381     7.881      360       359           480             479            0          0         12    
 4,302,975.60    8.603     8.103      360       360           480             480            0          0         36    
 3,518,047.44    9.475     8.975      360       359           600             599            0          0         12    
   504,741.93    8.720     8.220      360       359           600             599            0          0         24    
14,079,301.40    8.572     8.072      360       360           600             600            0          0         36    
   417,051.70    7.914     7.414      180       179           180             179            0          0         12    
 1,294,845.18    7.549     7.049      180       179           180             179            0          0         36    
   166,440.24    8.200     7.700      240       240           240             240            0          0         36    
 4,976,285.95    8.788     8.288      360       360           360             360            0          0         12    
   520,317.89   10.047     9.547      360       360           360             360            0          0         24    
23,770,388.60    8.305     7.805      360       359           360             359            0          0         36    
 1,316,161.90    8.696     8.196      360       360           300             300           60         60         12    
   529,042.21    9.706     9.206      360       359           300             300           60         59         24    
 1,575,152.43    8.248     7.748      360       360           300             300           60         60         36    
 4,796,846.37    9.225     8.725      360       360           480             480            0          0          0    
 6,393,369.24    9.650     9.150      360       359           600             599            0          0          0    
   439,756.91    7.432     6.932      180       180           180             180            0          0          0    
21,400,624.21    8.939     8.439      360       360           360             360            0          0          0    
   124,116.87    9.800     9.300      180       180           120             120           60         60          0    
   931,732.49    8.854     8.354      360       360           300             300           60         60          0    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              18

FWP 19th Page of 79 TOC 1st Previous Next ↓Bottom Just 19th
                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

GROUP II FIXED RATE MORTGAGE LOANS

                                                        [Enlarge/Download Table]

                                                           ORIGINAL       REMAINING     ORIGINAL   REMAINING   ORIGINAL 
                                                         AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-   MONTHS TO
                            NET    ORIGINAL  REMAINING       TERM            TERM         ONLY        ONLY    PREPAYMENT
   CURRENT     MORTGAGE  MORTGAGE    TERM       TERM    (LESS IO-TERM)  (LESS IO-TERM)    TERM        TERM      PENALTY 
 BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)   (MONTHS)     (MONTHS)        (MONTHS)     (MONTHS)    (MONTHS)  EXPIRATION
-------------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------  ----------
                                                                                                                        
 1,094,511.05    9.525     9.025      360       360           480             480            0          0         36    
   455,475.62   10.080     9.580      360       360           600             600            0          0         36    
 4,001,865.46    9.496     8.996      360       359           360             359            0          0         36    
   582,778.63    9.541     9.041      360       360           300             300           60         60         36    
   190,550.30   10.067     9.567      360       360           480             480            0          0         36    
    96,535.34    8.150     7.650      360       360           600             600            0          0         24    
   709,986.53    8.167     7.667      360       359           600             599            0          0         36    
   436,548.98   10.400     9.900      360       360           360             360            0          0         12    
    85,502.73   12.250    11.750      360       360           360             360            0          0         24    
 2,932,379.51    9.100     8.600      360       359           360             359            0          0         36    
   558,763.68    7.900     7.400      360       359           300             300           60         59         36    
   160,733.72    7.850     7.350      360       360           480             480            0          0         36    
   225,312.54   11.750    11.250      360       359           600             599            0          0         36    
 1,045,920.01    9.634     9.134      360       360           360             360            0          0         36    
   149,891.33    7.150     6.650      360       360           300             300           60         60         36    
    83,695.67    9.650     9.150      360       359           480             479            0          0         12    
   852,365.99    9.611     9.111      360       359           480             479            0          0         24    
 1,609,849.04    9.429     8.929      360       360           600             600            0          0         24    
    87,500.01    7.150     6.650      180       180           180             180            0          0         24    
 5,990,179.69    9.477     8.977      360       359           360             359            0          0         24    
   915,231.13    9.132     8.632      360       360           300             300           60         60         24    
   328,029.94    9.795     9.295      360       360           480             480            0          0         36    
   259,646.78    9.300     8.800      360       359           600             599            0          0         36    
    92,968.77    9.400     8.900      360       359           360             359            0          0         12    
   204,203.16    9.705     9.205      360       360           360             360            0          0         24    
 4,043,817.07    9.625     9.125      360       360           360             360            0          0         36    
   623,913.14    9.800     9.300      360       360           300             300           60         60         36    
   301,779.94   10.779    10.279      360       360           480             480            0          0         36    
   176,141.33    8.510     8.010      360       359           600             599            0          0         36    
   102,241.86    8.650     8.150      360       359           360             359            0          0         12    
 1,054,451.26    8.984     8.484      360       359           360             359            0          0         36    
   503,553.07   10.616    10.116      360       360           480             480            0          0         36    
   691,421.91   10.081     9.581      360       359           600             599            0          0         36    
    47,554.36    8.650     8.150      180       180           180             180            0          0         36    
 5,194,428.30    9.295     8.795      360       359           360             359            0          0         36    
 1,391,202.67    8.098     7.598      360       360           480             480            0          0         12    
   464,130.51   10.000     9.500      360       359           480             479            0          0         24    
 7,478,159.60    8.717     8.217      360       359           480             479            0          0         36    
 1,330,092.56   10.087     9.587      360       359           600             599            0          0         12    
   804,572.14    8.932     8.432      360       359           600             599            0          0         24    
13,521,259.51    8.607     8.107      360       359           600             599            0          0         36    
    99,293.49    8.100     7.600      180       180           180             180            0          0         12    
 1,429,637.68    8.084     7.584      180       179           180             179            0          0         36    
    74,080.18    9.650     9.150      240       240           240             240            0          0         36    
 9,886,954.76    9.050     8.550      360       359           360             359            0          0         12    
 1,182,429.54   10.939    10.439      360       360           360             360            0          0         24    
41,771,981.85    8.968     8.468      360       359           360             359            0          0         36    
 1,932,894.33    8.082     7.582      360       358           300             300           60         58         12    
 2,908,140.91    8.677     8.177      360       359           300             300           60         59         36    
 3,629,075.68    9.845     9.345      360       359           480             479            0          0          0    
 6,025,560.91    9.743     9.243      360       359           600             599            0          0          0    
 1,347,344.88    8.758     8.258      180       180           180             180            0          0          0    
23,095,888.91    9.656     9.156      360       360           360             360            0          0          0    
   129,347.85   11.800    11.300      180       180           300             300           60         60          0    
   226,786.72    9.838     9.338      180       179           120             120           60         59          0    
 1,679,191.85    8.018     7.518      360       358           300             300           60         58          0    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              19

FWP 20th Page of 79 TOC 1st Previous Next ↓Bottom Just 20th
                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

GROUP I ADJUSTABLE RATE MORTGAGE LOANS

                                                        [Enlarge/Download Table]


                                                           ORIGINAL        REMAINING     ORIGINAL  REMAINING
                                                         AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                            NET    ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
   CURRENT     MORTGAGE  MORTGAGE    TERM      TERM     (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
 BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)  (MONTHS)      (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
-------------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                            
   181,086.99    7.350     6.850      360       359          600              599            0          0   
   209,239.16    8.100     7.600      360       359          240              240          120        119   
   117,554.37    9.500     9.000      360       359          360              359            0          0   
   113,179.37    8.250     7.750      360       360          360              360            0          0   
   756,741.97    8.263     7.763      360       360          360              360            0          0   
   184,035.36    8.950     8.450      360       359          300              300           60         59   
 2,067,568.27    7.824     7.324      360       358          300              300           60         58   
   455,665.83    7.983     7.483      360       360          600              600            0          0   
 1,048,953.97    8.941     8.441      360       359          480              479            0          0   
 1,258,763.79    8.723     8.223      360       360          360              360            0          0   
   817,697.14    8.085     7.585      360       359          360              359            0          0   
12,862,727.03    8.683     8.183      360       359          600              599            0          0   
   647,928.09    9.568     9.068      360       359          480              479            0          0   
 4,170,231.65    8.454     7.954      360       360          300              300           60         60   
   251,087.00    7.950     7.450      360       360          360              360            0          0   
   129,271.76    7.950     7.450      360       359          360              359            0          0   
   162,160.35    8.800     8.300      360       359          360              359            0          0   
   287,473.45    7.641     7.141      360       359          360              359            0          0   
   199,728.29    9.250     8.750      360       359          480              479            0          0   
   291,032.66    7.884     7.384      360       359          600              599            0          0   
   252,989.17    9.350     8.850      360       360          300              300           60         60   
   164,442.96    8.500     8.000      360       359          360              359            0          0   
   814,368.34    9.379     8.879      360       359          360              359            0          0   
   144,565.24    8.450     7.950      360       360          360              360            0          0   
   418,478.33    7.050     6.550      360       360          480              480            0          0   
   617,255.53    8.655     8.155      360       359          360              359            0          0   
    88,546.21   11.000    10.500      360       359          300              300           60         59   
   166,915.79    7.900     7.400      360       359          360              359            0          0   
18,083,328.31    8.994     8.494      360       359          360              359            0          0   
   983,233.85    9.207     8.707      360       359          360              359            0          0   
 2,602,186.76    7.815     7.315      360       360          600              600            0          0   
   876,807.21    9.414     8.914      360       359          480              479            0          0   
 1,028,695.82    8.965     8.465      360       359          480              479            0          0   
 1,853,716.33    7.918     7.418      360       360          600              600            0          0   
36,327,658.70    9.087     8.587      360       360          480              480            0          0   
   309,871.79    9.004     8.504      360       359          600              599            0          0   
   239,406.24    8.174     7.674      360       358          600              598            0          0   
 1,571,231.08    7.734     7.234      360       360          300              300           60         60   


                                                             NUMBER OF                                      
                                                              MONTHS               ORIGINAL                 
            INITIAL                                RATE     UNTIL NEXT             MONTHS TO                
             RATE                                 CHANGE       RATE               PREPAYMENT                
  GROSS     CHANGE   PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT              PENALTY                 
MARGIN(%)   CAP(%)    CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION                
---------  --------  --------  -------  -------  ---------  ----------  --------  ----------                
                                                                                                            
  2.750      3.000     1.000    13.350   7.350       6          59      6M LIBOR       0                    
  2.750      3.000     1.000    14.100   8.100       6          59      6M LIBOR       0                    
  4.900      1.000     1.000    15.500   9.500       6           5      6M LIBOR      24                    
  4.900      1.000     1.000    14.250   8.250       6           6      6M LIBOR      12                    
  4.900      1.000     1.000    14.263   8.263       6           6      6M LIBOR       0                    
  4.900      1.000     1.000    14.950   8.950       6           5      6M LIBOR       0                    
  4.987      3.000     1.000    13.824   7.824       6          34      6M LIBOR       0                    
  5.205      3.000     1.000    13.983   7.983       6          36      6M LIBOR      24                    
  5.289      3.000     1.000    14.941   8.941       6          59      6M LIBOR       0                    
  5.350      3.000     1.000    14.723   8.723       6          36      6M LIBOR      12                    
  5.356      3.000     1.000    14.085   8.085       6          23      6M LIBOR      12                    
  5.365      3.000     1.000    14.683   8.683       6          35      6M LIBOR       0                    
  5.374      3.000     1.000    15.568   9.568       6          23      6M LIBOR      12                    
  5.399      3.000     1.000    14.454   8.454       6          24      6M LIBOR       0                    
  5.400      3.000     1.000    13.950   7.950       6          60      6M LIBOR      36                    
  5.400      3.000     1.000    13.950   7.950       6          23      6M LIBOR      12                    
  5.400      3.000     1.000    14.800   8.800       6          59      6M LIBOR      12                    
  5.400      3.000     1.000    13.641   7.641       6          23      6M LIBOR      36                    
  5.400      3.000     1.000    15.250   9.250       6          35      6M LIBOR      12                    
  5.400      3.000     1.000    13.884   7.884       6          35      6M LIBOR      36                    
  5.400      3.000     1.000    15.350   9.350       6          36      6M LIBOR      36                    
  5.400      2.000     1.000    14.500   8.500       6          11      6M LIBOR      12                    
  5.400      3.000     1.000    15.379   9.379       6          35      6M LIBOR      24                    
  5.400      3.000     1.000    14.450   8.450       6          60      6M LIBOR      12                    
  5.400      3.000     1.000    13.050   7.050       6          60      6M LIBOR      12                    
  5.400      1.000     1.000    14.655   8.655       6           5      6M LIBOR      24                    
  5.400      1.000     1.000    17.000  11.000       6           5      6M LIBOR      12                    
  5.500      3.000     1.000    13.900   7.900       6          23      6M LIBOR      36                    
  5.531      3.000     1.000    14.994   8.994       6          35      6M LIBOR       0                    
  5.535      3.000     1.000    15.207   9.207       6          59      6M LIBOR       0                    
  5.559      3.000     1.000    13.815   7.815       6          60      6M LIBOR      36                    
  5.574      3.000     1.000    15.414   9.414       6          25      6M LIBOR      12                    
  5.608      3.000     1.000    14.965   8.965       6          23      6M LIBOR      24                    
  5.631      3.000     1.000    13.918   7.918       6          36      6M LIBOR      24                    
  5.639      3.000     1.000    15.087   9.087       6          24      6M LIBOR       0                    
  5.654      3.000     1.000    15.004   9.004       6          59      6M LIBOR      36                    
  5.662      3.000     1.000    14.174   8.174       6          34      6M LIBOR      36                    
  5.666      3.000     1.000    13.734   7.734       6          36      6M LIBOR      36                    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              20

FWP 21st Page of 79 TOC 1st Previous Next ↓Bottom Just 21st
                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

GROUP I ADJUSTABLE RATE MORTGAGE LOANS (CONT.)

                                                        [Enlarge/Download Table]


                                                           ORIGINAL        REMAINING     ORIGINAL  REMAINING
                                                         AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                            NET    ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
   CURRENT     MORTGAGE  MORTGAGE    TERM      TERM     (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
 BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)  (MONTHS)      (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
-------------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                            
59,777,724.82    9.172     8.672      360       359           360            359             0          0   
   300,543.53    8.373     7.873      360       360           360            360             0          0   
 1,906,823.45    8.679     8.179      360       359           480            479             0          0   
   487,337.04    8.460     7.960      360       359           600            599             0          0   
 1,227,615.69    7.440     6.940      360       359           240            240           120        119   
43,676,817.51    9.060     8.560      360       359           600            599             0          0   
 7,517,994.56    9.038     8.538      360       359           480            479             0          0   
 1,168,410.51    8.690     8.190      360       359           300            300            60         59   
 1,032,119.73    8.407     7.907      360       359           300            300            60         59   
   151,413.07    7.900     7.400      360       360           300            300            60         60   
   880,373.78    9.151     8.651      360       360           600            600             0          0   
29,901,800.26    7.938     7.438      360       359           600            599             0          0   
 2,963,051.41    8.716     8.216      360       359           360            359             0          0   
 2,075,628.73    9.204     8.704      360       360           360            360             0          0   
   483,442.33    8.780     8.280      360       360           600            600             0          0   
 4,733,479.71    8.114     7.614      360       359           600            599             0          0   
   371,684.84    9.244     8.744      360       359           360            359             0          0   
 1,072,569.47    8.946     8.446      360       360           360            360             0          0   
17,498,902.83    8.432     7.932      360       359           600            599             0          0   
 2,484,586.68    8.262     7.762      360       359           300            300            60         59   
32,758,670.12    8.707     8.207      360       359           480            479             0          0   
 6,489,618.56    8.301     7.801      360       360           360            360             0          0   
   698,407.04    7.867     7.367      360       359           300            300            60         59   
 4,227,526.63    7.941     7.441      360       359           480            479             0          0   
48,091,307.11    8.656     8.156      360       359           360            359             0          0   
   970,156.41    8.682     8.182      360       359           480            479             0          0   
 2,179,321.00    9.159     8.659      360       359           360            359             0          0   
11,884,794.04    8.821     8.321      360       360           600            600             0          0   
   805,428.12    8.352     7.852      360       359           600            599             0          0   
   192,595.14    8.500     8.000      360       360           360            360             0          0   
   162,635.90    9.550     9.050      360       360           360            360             0          0   
   171,195.68    8.250     7.750      360       359           480            479             0          0   
   131,250.02    9.100     8.600      360       360           480            480             0          0   
   145,516.33    9.500     9.000      360       359           600            599             0          0   
   124,116.87    9.550     9.050      360       359           300            300            60         59   
   112,989.15    8.450     7.950      360       359           300            300            60         59   
   599,184.88    8.021     7.521      360       360           480            480             0          0   
   273,913.09    8.750     8.250      360       359           300            300            60         59   


                                                             NUMBER OF                                      
                                                              MONTHS               ORIGINAL                 
            INITIAL                                RATE     UNTIL NEXT             MONTHS TO                
             RATE                                 CHANGE       RATE               PREPAYMENT                
  GROSS     CHANGE   PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT              PENALTY                 
MARGIN(%)   CAP(%)    CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION                
---------  --------  --------  -------  -------  ---------  ----------  --------  ----------                
                                                                                                            
  5.673      3.000     1.000    15.172   9.172       6          23      6M LIBOR       0                    
  5.694      3.000     1.000    14.373   8.373       6          36      6M LIBOR      24                    
  5.697      3.000     1.000    14.679   8.679       6          23      6M LIBOR      24                    
  5.704      3.000     1.000    14.460   8.460       6          23      6M LIBOR      24                    
  5.707      3.000     1.000    13.440   7.440       6          59      6M LIBOR      36                    
  5.723      3.000     1.000    15.060   9.060       6          23      6M LIBOR       0                    
  5.733      3.000     1.000    15.038   9.038       6          35      6M LIBOR       0                    
  5.734      3.000     1.000    14.690   8.690       6          23      6M LIBOR      12                    
  5.743      3.000     1.000    14.407   8.407       6          35      6M LIBOR      12                    
  5.750      3.000     1.000    13.900   7.900       6          36      6M LIBOR      24                    
  5.777      3.000     1.000    15.151   9.151       6          24      6M LIBOR      12                    
  5.787      3.000     1.000    13.938   7.938       6          35      6M LIBOR      36                    
  5.797      3.000     1.000    14.716   8.716       6          23      6M LIBOR      24                    
  5.806      3.000     1.000    15.204   9.204       6          24      6M LIBOR      24                    
  5.812      3.000     1.000    14.780   8.780       6          24      6M LIBOR      24                    
  5.830      3.000     1.000    14.114   8.114       6          23      6M LIBOR      36                    
  5.847      2.000     1.000    15.244   9.244       6          11      6M LIBOR      12                    
  5.849      3.000     1.000    14.946   8.946       6          36      6M LIBOR      36                    
  5.854      3.000     1.000    14.432   8.432       6          23      6M LIBOR      24                    
  5.856      3.000     1.000    14.262   8.262       6          23      6M LIBOR      24                    
  5.862      3.000     1.000    14.707   8.707       6          23      6M LIBOR      24                    
  5.864      3.000     1.000    14.301   8.301       6          36      6M LIBOR      36                    
  5.867      3.000     1.000    13.867   7.867       6          23      6M LIBOR      36                    
  5.877      3.000     1.000    13.941   7.941       6          35      6M LIBOR      36                    
  5.881      3.000     1.000    14.656   8.656       6          23      6M LIBOR      24                    
  5.890      3.000     1.000    14.682   8.682       6          23      6M LIBOR      36                    
  5.890      3.000     1.000    15.159   9.159       6          23      6M LIBOR      36                    
  5.890      3.000     1.000    14.821   8.821       6          24      6M LIBOR      12                    
  5.896      3.000     1.000    14.352   8.352       6          35      6M LIBOR      36                    
  5.900      2.000     1.000    14.500   8.500       6          12      6M LIBOR      24                    
  5.900      3.000     1.000    15.550   9.550       6          24      6M LIBOR      12                    
  5.900      3.000     1.000    14.250   8.250       6          35      6M LIBOR      36                    
  5.900      3.000     1.000    15.100   9.100       6          24      6M LIBOR      36                    
  5.900      3.000     1.000    15.500   9.500       6          23      6M LIBOR      36                    
  5.900      3.000     1.000    15.550   9.550       6          23      6M LIBOR      24                    
  5.900      3.000     1.000    14.450   8.450       6          23      6M LIBOR      36                    
  5.900      3.000     1.000    14.021   8.021       6          36      6M LIBOR      24                    
  5.900      3.000     1.000    14.750   8.750       6          35      6M LIBOR      24                    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              21

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

GROUP I ADJUSTABLE RATE MORTGAGE LOANS (CONT.)

                                                        [Enlarge/Download Table]


                                                           ORIGINAL        REMAINING     ORIGINAL  REMAINING
                                                         AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                            NET    ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
   CURRENT     MORTGAGE  MORTGAGE    TERM      TERM     (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
 BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)  (MONTHS)      (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
-------------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                            
 1,446,175.51    7.864     7.364     360        359           360             359            0          0   
 2,765,942.02    8.745     8.245     360        359           360             359            0          0   
 1,008,120.00    8.331     7.831     360        359           600             599            0          0   
 1,744,372.04    9.141     8.641     360        360           480             480            0          0   
 1,575,047.81    8.938     8.438     360        360           480             480            0          0   
 2,928,634.98    8.721     8.221     360        360           360             360            0          0   
   429,701.16    7.752     7.252     360        360           300             300           60         60   
 3,718,279.42    9.214     8.714     360        360           360             360            0          0   
 4,185,618.09    8.915     8.415     360        359           480             479            0          0   
   315,404.26    7.970     7.470     360        359           360             359            0          0   
 4,015,570.87    9.097     8.597     360        359           360             359            0          0   
 3,277,151.34    8.942     8.442     360        360           600             600            0          0   
   253,052.89    8.795     8.295     360        359           300             300           60         59   
   952,513.74    8.003     7.503     360        359           600             599            0          0   
 2,740,824.76    8.601     8.101     360        359           600             599            0          0   
 1,197,038.24    8.562     8.062     360        360           480             480            0          0   
 1,682,845.45    9.158     8.658     360        359           600             599            0          0   
   960,828.14    8.682     8.182     360        359           480             479            0          0   
   390,421.26    8.341     7.841     360        360           480             480            0          0   
 1,048,240.66    8.899     8.399     360        359           600             599            0          0   
 1,754,708.16    8.363     7.863     360        359           360             359            0          0   
   529,612.86    9.140     8.640     360        360           360             360            0          0   
   537,126.45    9.547     9.047     360        359           360             359            0          0   
 1,244,031.45    8.814     8.314     360        359           360             359            0          0   
   419,524.52    7.639     7.139     360        359           600             599            0          0   
   534,273.18    8.646     8.146     360        359           480             479            0          0   
 1,957,527.49   10.082     9.582     360        360           360             360            0          0   
   541,263.67    8.838     8.338     360        359           480             479            0          0   
   728,304.47    9.003     8.503     360        359           360             359            0          0   
 1,029,218.92    9.190     8.690     360        359           360             359            0          0   
   784,789.53    9.320     8.820     360        360           480             480            0          0   
   314,334.29    8.838     8.338     360        360           600             600            0          0   
 1,625,978.52    9.430     8.930     360        359           480             479            0          0   
 1,485,265.19    9.831     9.331     360        360           600             600            0          0   
   216,847.86    8.450     7.950     360        359           360             359            0          0   
   708,655.01   10.117     9.617     360        360           600             600            0          0   
   125,591.05    9.900     9.400     360        359           360             359            0          0   
    90,353.28   10.150     9.650     360        359           480             479            0          0   


                                                             NUMBER OF                                      
                                                              MONTHS               ORIGINAL                 
            INITIAL                                RATE     UNTIL NEXT             MONTHS TO                
             RATE                                 CHANGE       RATE               PREPAYMENT                
  GROSS     CHANGE   PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT              PENALTY                 
MARGIN(%)   CAP(%)    CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION                
---------  --------  --------  -------  -------  ---------  ----------  --------  ----------                
                                                                                                            
  5.904      3.000     1.000    13.864    7.864      6          35      6M LIBOR      36                    
  5.905      3.000     1.000    14.745    8.745      6          23      6M LIBOR      24                    
  5.909      3.000     1.000    14.331    8.331      6          35      6M LIBOR      36                    
  5.913      3.000     1.000    15.141    9.141      6          24      6M LIBOR      24                    
  5.923      3.000     1.000    14.938    8.938      6          24      6M LIBOR      36                    
  5.927      3.000     1.000    14.721    8.721      6          24      6M LIBOR      24                    
  5.933      3.000     1.000    13.752    7.752      6          36      6M LIBOR      36                    
  5.933      3.000     1.000    15.214    9.214      6          24      6M LIBOR      12                    
  5.952      3.000     1.000    14.915    8.915      6          23      6M LIBOR      12                    
  5.954      2.000     1.000    13.970    7.970      6          18      6M LIBOR      0                     
  5.961      3.000     1.000    15.097    9.097      6          23      6M LIBOR      24                    
  5.965      3.000     1.000    14.942    8.942      6          24      6M LIBOR      36                    
  5.970      3.000     1.000    14.795    8.795      6          23      6M LIBOR      24                    
  5.971      3.000     1.000    14.003    8.003      6          35      6M LIBOR      36                    
  5.990      3.000     1.000    14.601    8.601      6          35      6M LIBOR      12                    
  6.001      3.000     1.000    14.562    8.562      6          60      6M LIBOR      36                    
  6.012      3.000     1.000    15.158    9.158      6          23      6M LIBOR      24                    
  6.012      3.000     1.000    14.682    8.682      6          23      6M LIBOR      24                    
  6.021      3.000     1.000    14.341    8.341      6          36      6M LIBOR      36                    
  6.030      3.000     1.000    14.899    8.899      6          23      6M LIBOR      24                    
  6.044      3.000     1.000    14.363    8.363      6          23      6M LIBOR      36                    
  6.056      3.000     1.000    15.140    9.140      6          24      6M LIBOR      12                    
  6.060      3.000     1.000    15.547    9.547      6          35      6M LIBOR      36                    
  6.066      3.000     1.000    14.814    8.814      6          59      6M LIBOR      36                    
  6.071      3.000     1.000    13.639    7.639      6          23      6M LIBOR      24                    
  6.116      3.000     1.000    14.646    8.646      6          23      6M LIBOR      24                    
  6.125      3.000     1.000    16.082   10.082      6          24      6M LIBOR      24                    
  6.127      3.000     1.000    14.838    8.838      6          35      6M LIBOR      36                    
  6.144      3.000     1.000    15.003    9.003      6          23      6M LIBOR      36                    
  6.177      3.000     1.000    15.190    9.190      6          35      6M LIBOR      36                    
  6.191      3.000     1.000    15.320    9.320      6          24      6M LIBOR      36                    
  6.216      3.000     1.000    14.838    8.838      6          24      6M LIBOR      36                    
  6.217      3.000     1.000    15.430    9.430      6          23      6M LIBOR      24                    
  6.239      3.000     1.000    15.831    9.831      6          24      6M LIBOR      36                    
  6.250      3.000     1.000    14.450    8.450      6          35      6M LIBOR      24                    
  6.325      3.000     1.000    16.117   10.117      6          24      6M LIBOR      24                    
  6.400      2.000     1.000    15.900    9.900      6          11      6M LIBOR      12                    
  6.400      3.000     1.000    16.150   10.150      6          23      6M LIBOR      36                    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              22

FWP 23rd Page of 79 TOC 1st Previous Next ↓Bottom Just 23rd
                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

GROUP I ADJUSTABLE RATE MORTGAGE LOANS (CONT.)

                                                        [Enlarge/Download Table]


                                                           ORIGINAL        REMAINING     ORIGINAL  REMAINING
                                                         AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                            NET    ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
   CURRENT     MORTGAGE  MORTGAGE    TERM      TERM     (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
 BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)  (MONTHS)      (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
-------------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                            
  189,741.88    10.400     9.900      360       360           480            480             0          0   
  324,368.26     9.629     9.129      360       360           480            480             0          0   
  209,144.06     9.911     9.411      360       360           360            360             0          0   
  196,040.66     9.441     8.941      360       359           360            359             0          0   
   95,774.47    11.050    10.550      360       360           300            300            60         60   
  366,834.30     9.580     9.080      360       359           360            359             0          0   
  167,153.56     8.850     8.350      360       359           480            479             0          0   
  307,201.14    11.250    10.750      360       360           600            600             0          0   


                                                             NUMBER OF                                      
                                                              MONTHS               ORIGINAL                 
            INITIAL                                RATE     UNTIL NEXT             MONTHS TO                
             RATE                                 CHANGE       RATE               PREPAYMENT                
  GROSS     CHANGE   PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT              PENALTY                 
MARGIN(%)   CAP(%)    CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION                
---------  --------  --------  -------  -------  ---------  ----------  --------  ----------                
                                                                                                            
  6.400      3.000     1.000    16.400   10.400      6          36      6M LIBOR      24                    
  6.400      3.000     1.000    15.629    9.629      6          36      6M LIBOR      36                    
  6.400      3.000     1.000    15.911    9.911      6          60      6M LIBOR      36                    
  6.400      3.000     1.000    15.441    9.441      6          31      6M LIBOR      36                    
  6.400      3.000     1.000    17.050   11.050      6          24      6M LIBOR      24                    
  6.400      3.000     1.000    15.580    9.580      6          35      6M LIBOR      12                    
  6.400      3.000     1.000    14.850    8.850      6          35      6M LIBOR      12                    
  6.750      3.000     1.000    17.250   11.250      6          60      6M LIBOR      36                    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              23

FWP 24th Page of 79 TOC 1st Previous Next ↓Bottom Just 24th
                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 GROUP II ADJUSTABLE RATE MORTGAGE LOANS

                                                        [Enlarge/Download Table]


                                                            ORIGINAL       REMAINING      ORIGINAL  REMAINING
                                                          AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                             NET    ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
    CURRENT     MORTGAGE  MORTGAGE    TERM       TERM    (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
  BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)   (MONTHS)     (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
  -----------   --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                             
  4,896,319.59    7.346     6.846      360       357           300            300            60         57   
    337,065.27    6.920     6.420      360       359           360            359             0          0   
    220,652.21    8.400     7.900      360       360           300            300            60         60   
    232,065.25    7.300     6.800      360       359           300            300            60         59   
    401,509.03    7.350     6.850      360       360           300            300            60         60   
 10,199,639.48    8.299     7.799      360       359           300            300            60         59   
 21,578,891.85    8.519     8.019      360       359           600            599             0          0   
  1,323,865.70    9.599     9.099      360       360           360            360             0          0   
    114,130.45   10.100     9.600      360       359           360            359             0          0   
     85,548.59    8.900     8.400      360       359           360            359             0          0   
    147,982.50    8.350     7.850      360       360           480            480             0          0   
    134,293.50    7.600     7.100      360       360           300            300            60         60   
    475,543.56    7.950     7.450      360       356           300            300            60         56   
    235,869.60    8.600     8.100      360       359           300            300            60         59   
     55,004.21    7.700     7.200      360       355           360            355             0          0   
    117,858.71    7.900     7.400      360       360           360            360             0          0   
    292,934.83    8.300     7.800      360       360           360            360             0          0   
    241,100.58    6.700     6.200      360       359           360            359             0          0   
    166,440.24    7.400     6.900      360       360           600            600             0          0   
    897,065.36    9.990     9.490      360       360           300            300            60         60   
    833,076.22    7.841     7.341      360       360           300            300            60         60   
    570,652.27    8.400     7.900      360       359           300            300            60         59   
    117,008.44    9.500     9.000      360       359           480            479             0          0   
    238,342.43    7.592     7.092      360       360           360            360             0          0   
    583,306.48    9.038     8.538      360       359           480            479             0          0   
  2,045,195.52    8.210     7.710      360       360           480            480             0          0   
    539,095.20    8.354     7.854      360       359           600            599             0          0   
  1,484,834.27    8.482     7.982      360       360           600            600             0          0   
  3,010,190.70    7.469     6.969      360       360           300            300            60         60   
    420,380.50    8.458     7.958      360       360           600            600             0          0   
    817,459.37    8.365     7.865      360       356           300            300            60         56   
  5,236,466.88    8.226     7.726      360       359           600            599             0          0   
    630,332.98    9.139     8.639      360       360           480            480             0          0   
 80,278,505.99    9.006     8.506      360       359           600            599             0          0   
  7,577,378.86    9.150     8.650      360       359           480            479             0          0   
    224,741.88    9.508     9.008      360       359           600            599             0          0   
  1,716,583.78    7.692     7.192      360       359           480            479             0          0   
 10,794,281.24    8.970     8.470      360       359           360            359             0          0   


                                                            NUMBER OF                                        
                                                             MONTHS               ORIGINAL                   
           INITIAL                                 RATE    UNTIL NEXT             MONTHS TO                  
             RATE                                 CHANGE      RATE               PREPAYMENT                  
  GROSS     CHANGE  PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT              PENALTY                   
MARGIN(%)   CAP(%)   CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION                  
---------  -------  --------  -------  -------  ---------  ----------  --------  ----------                  
                                                                                                             
  3.849     3.000     1.000    13.346    7.346      6          33      6M LIBOR       0                      
  4.900     1.000     1.000    12.920    6.920      6           5      6M LIBOR      24                      
  4.900     1.000     1.000    14.400    8.400      6           6      6M LIBOR      12                      
  4.900     1.000     1.000    13.300    7.300      6           5      6M LIBOR      24                      
  4.900     1.000     1.000    13.350    7.350      6           6      6M LIBOR       0                      
  4.903     3.000     1.000    14.299    8.299      6          23      6M LIBOR       0                      
  5.174     3.000     1.000    14.519    8.519      6          35      6M LIBOR       0                      
  5.281     1.000     1.000    15.599    9.599      6           6      6M LIBOR       0                      
  5.400     3.000     1.000    16.100   10.100      6          23      6M LIBOR      12                      
  5.400     3.000     1.000    14.900    8.900      6          23      6M LIBOR      36                      
  5.400     3.000     1.000    14.350    8.350      6          36      6M LIBOR      36                      
  5.400     3.000     1.000    13.600    7.600      6          24      6M LIBOR      24                      
  5.400     3.000     1.000    13.950    7.950      6          20      6M LIBOR      36                      
  5.400     3.000     1.000    14.600    8.600      6          35      6M LIBOR      36                      
  5.400     3.000     1.000    13.700    7.700      6          55      6M LIBOR      36                      
  5.400     3.000     1.000    13.900    7.900      6          60      6M LIBOR      36                      
  5.400     2.000     1.000    14.300    8.300      6          12      6M LIBOR      12                      
  5.400     3.000     1.000    12.700    6.700      6          35      6M LIBOR      24                      
  5.400     3.000     1.000    13.400    7.400      6          60      6M LIBOR      12                      
  5.400     3.000     1.000    15.990    9.990      6          24      6M LIBOR      36                      
  5.400     3.000     1.000    13.841    7.841      6          36      6M LIBOR      12                      
  5.400     3.000     1.000    14.400    8.400      6          35      6M LIBOR      24                      
  5.400     3.000     1.000    15.500    9.500      6          59      6M LIBOR       0                      
  5.422     3.000     1.000    13.592    7.592      6          36      6M LIBOR      12                      
  5.487     3.000     1.000    15.038    9.038      6          23      6M LIBOR      12                      
  5.511     3.000     1.000    14.210    8.210      6          36      6M LIBOR      12                      
  5.527     3.000     1.000    14.354    8.354      6          23      6M LIBOR      24                      
  5.531     3.000     1.000    14.482    8.482      6          24      6M LIBOR      12                      
  5.533     3.000     1.000    13.469    7.469      6          36      6M LIBOR      36                      
  5.563     3.000     1.000    14.458    8.458      6          36      6M LIBOR      36                      
  5.565     3.000     1.000    14.365    8.365      6          20      6M LIBOR      24                      
  5.571     3.000     1.000    14.226    8.226      6          59      6M LIBOR      36                      
  5.579     3.000     1.000    15.139    9.139      6          24      6M LIBOR      36                      
  5.579     3.000     1.000    15.006    9.006      6          23      6M LIBOR       0                      
  5.584     3.000     1.000    15.150    9.150      6          35      6M LIBOR       0                      
  5.590     3.000     1.000    15.508    9.508      6          59      6M LIBOR      36                      
  5.590     3.000     1.000    13.692    7.692      6          23      6M LIBOR      36                      
  5.598     3.000     1.000    14.970    8.970      6          35      6M LIBOR       0                      

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              24

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 GROUP II ADJUSTABLE RATE MORTGAGE LOANS (CONT.)

                                                        [Enlarge/Download Table]


                                                            ORIGINAL       REMAINING      ORIGINAL  REMAINING
                                                          AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                             NET    ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
    CURRENT     MORTGAGE  MORTGAGE    TERM       TERM    (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
  BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)   (MONTHS)     (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
  -----------   --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                             
  1,316,814.34    8.146     7.646      360       359           600             599            0          0   
  2,677,080.03    8.378     7.878      360       359           360             359            0          0   
    185,747.31    9.996     9.496      360       359           360             359            0          0   
  1,626,836.89    8.570     8.070      360       359           600             599            0          0   
    346,524.69    8.100     7.600      360       359           480             479            0          0   
    310,543.78    7.443     6.943      360       360           600             600            0          0   
  3,161,793.99    8.643     8.143      360       359           600             599            0          0   
    524,904.98    8.017     7.517      360       359           360             359            0          0   
  1,783,577.46    8.673     8.173      360       359           300             300           60         59   
  1,127,599.37    8.459     7.959      360       359           240             240          120        119   
 43,682,564.53    8.001     7.501      360       359           600             599            0          0   
  2,055,297.34    9.210     8.710      360       359           360             359            0          0   
223,788,509.26    8.451     7.951      360       359           600             599            0          0   
    146,419.86    8.570     8.070      360       360           600             600            0          0   
  1,586,056.84    8.942     8.442      360       360           480             480            0          0   
  1,039,338.48    8.833     8.333      360       359           360             359            0          0   
    814,372.77    8.174     7.674      360       359           480             479            0          0   
  3,304,361.95    8.506     8.006      360       360           600             600            0          0   
    223,077.48    7.760     7.260      360       359           600             599            0          0   
 37,553,062.80    8.784     8.284      360       359           480             479            0          0   
 26,950,833.79    8.995     8.495      360       359           600             599            0          0   
 12,980,078.32    8.199     7.699      360       359           300             300           60         59   
  1,760,533.57    8.764     8.264      360       359           600             599            0          0   
    900,027.75    8.339     7.839      360       358           600             598            0          0   
  1,529,714.24    8.844     8.344      360       359           360             359            0          0   
 57,615,792.17    9.426     8.926      360       360           360             360            0          0   
  2,402,433.41    8.678     8.178      360       359           360             359            0          0   
  3,906,503.67    8.955     8.455      360       360           360             360            0          0   
 34,891,117.59    9.446     8.946      360       359           480             479            0          0   
  8,246,355.51    8.779     8.279      360       359           360             359            0          0   
  6,201,573.01    9.587     9.087      360       359           480             479            0          0   
    514,655.59    9.008     8.508      360       359           360             359            0          0   
 12,643,289.17    7.966     7.466      360       359           600             599            0          0   
 82,083,244.82    8.958     8.458      360       359           360             359            0          0   
    647,133.94    8.933     8.433      360       359           600             599            0          0   
    788,189.67    8.912     8.412      360       360           480             480            0          0   
    441,589.75    8.901     8.401      360       359           480             479            0          0   
    980,995.00    8.657     8.157      360       359           360             359            0          0   


                                                            NUMBER OF                                        
                                                             MONTHS               ORIGINAL                   
           INITIAL                                 RATE    UNTIL NEXT             MONTHS TO                  
             RATE                                 CHANGE      RATE               PREPAYMENT                  
  GROSS     CHANGE  PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT              PENALTY                   
MARGIN(%)   CAP(%)   CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION                  
---------  -------  --------  -------  -------  ---------  ----------  --------  ----------                  
                                                                                                             
  5.600     3.000     1.000    14.146   8.146       6          35      6M LIBOR      36                      
  5.621     3.000     1.000    14.378   8.378       6          23      6M LIBOR      24                      
  5.624     3.000     1.000    15.996   9.996       6          23      6M LIBOR      12                      
  5.630     3.000     1.000    14.570   8.570       6          23      6M LIBOR      24                      
  5.633     3.000     1.000    14.100   8.100       6          35      6M LIBOR      24                      
  5.662     3.000     1.000    13.443   7.443       6          36      6M LIBOR      36                      
  5.666     3.000     1.000    14.643   8.643       6          35      6M LIBOR      12                      
  5.678     3.000     1.000    14.017   8.017       6          35      6M LIBOR      36                      
  5.680     3.000     1.000    14.673   8.673       6          23      6M LIBOR      12                      
  5.683     3.000     1.000    14.459   8.459       6          59      6M LIBOR      36                      
  5.696     3.000     1.000    14.001   8.001       6          35      6M LIBOR      36                      
  5.696     2.000     1.000    15.210   9.210       6          11      6M LIBOR       0                      
  5.702     3.000     1.000    14.451   8.451       6          23      6M LIBOR      24                      
  5.725     3.000     1.000    14.570   8.570       6          24      6M LIBOR      24                      
  5.741     3.000     1.000    14.942   8.942       6          24      6M LIBOR      24                      
  5.746     3.000     1.000    14.833   8.833       6          23      6M LIBOR      24                      
  5.755     3.000     1.000    14.174   8.174       6          35      6M LIBOR      36                      
  5.758     3.000     1.000    14.506   8.506       6          36      6M LIBOR      24                      
  5.765     3.000     1.000    13.760   7.760       6          23      6M LIBOR      36                      
  5.768     3.000     1.000    14.784   8.784       6          23      6M LIBOR      24                      
  5.774     3.000     1.000    14.995   8.995       6          23      6M LIBOR      12                      
  5.774     3.000     1.000    14.199   8.199       6          23      6M LIBOR      24                      
  5.777     3.000     1.000    14.764   8.764       6          59      6M LIBOR       0                      
  5.778     3.000     1.000    14.339   8.339       6          22      6M LIBOR      36                      
  5.784     3.000     1.000    14.844   8.844       6          59      6M LIBOR      36                      
  5.785     3.000     1.000    15.426   9.426       6          23      6M LIBOR       0                      
  5.790     3.000     1.000    14.678   8.678       6          23      6M LIBOR      24                      
  5.796     3.000     1.000    14.955   8.955       6          24      6M LIBOR      24                      
  5.806     3.000     1.000    15.446   9.446       6          24      6M LIBOR       0                      
  5.807     3.000     1.000    14.779   8.779       6          35      6M LIBOR      36                      
  5.814     3.000     1.000    15.587   9.587       6          23      6M LIBOR      12                      
  5.820     3.000     1.000    15.008   9.008       6          35      6M LIBOR      36                      
  5.826     3.000     1.000    13.966   7.966       6          26      6M LIBOR      36                      
  5.835     3.000     1.000    14.958   8.958       6          23      6M LIBOR      24                      
  5.846     3.000     1.000    14.933   8.933       6          23      6M LIBOR      24                      
  5.847     3.000     1.000    14.912   8.912       6          24      6M LIBOR      24                      
  5.860     3.000     1.000    14.901   8.901       6          35      6M LIBOR      36                      
  5.862     3.000     1.000    14.657   8.657       6          35      6M LIBOR      36                      

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              25

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 GROUP II ADJUSTABLE RATE MORTGAGE LOANS (CONT.)

                                                        [Enlarge/Download Table]


                                                          ORIGINAL        REMAINING    ORIGINAL   REMAINING
                                                        AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                           NET    ORIGINAL  REMAINING       TERM            TERM         ONLY       ONLY   
  CURRENT     MORTGAGE  MORTGAGE    TERM       TERM    (LESS IO-TERM)  (LESS IO-TERM)    TERM       TERM   
BALANCE ($)    RATE(%)   RATE(%)  (MONTHS)   (MONTHS)     (MONTHS)        (MONTHS)     (MONTHS)   (MONTHS) 
-----------   --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                           
1,192,159.16    9.273     8.773      360       360           600             600            0          0   
  143,994.59    9.780     9.280      360       360           480             480            0          0   
  646,406.35    9.267     8.767      360       359           480             479            0          0   
3,175,275.65    9.649     9.149      360       360           360             360            0          0   
  447,010.94    7.990     7.490      360       359           360             359            0          0   
   92,445.67   11.700    11.200      360       360           360             360            0          0   
  106,521.76    7.900     7.400      360       360           600             600            0          0   
   74,898.11   11.150    10.650      360       360           360             360            0          0   
  226,834.28    8.600     8.100      360       353           240             240          120        113   
2,907,425.74    9.051     8.551      360       359           360             359            0          0   
1,395,910.55    9.038     8.538      360       360           600             600            0          0   
  639,788.69    9.153     8.653      360       359           360             359            0          0   
3,324,887.36    8.989     8.489      360       360           600             600            0          0   
  950,509.80    8.968     8.468      360       359           480             479            0          0   
1,413,580.92    9.527     9.027      360       359           480             479            0          0   
8,947,542.01    9.327     8.827      360       359           360             359            0          0   
  901,059.93    8.976     8.476      360       359           360             359            0          0   
  551,250.09    9.651     9.151      360       360           360             360            0          0   
  194,735.09    9.135     8.635      360       359           480             479            0          0   
2,598,427.05    9.785     9.285      360       359           360             359            0          0   
1,694,028.81   10.167     9.667      360       360           360             360            0          0   
  211,379.11   10.538    10.038      360       360           360             360            0          0   
  372,635.93    8.152     7.652      360       360           480             480            0          0   
  257,744.61    9.014     8.514      360       359           300             300           60         59   
6,672,069.12    8.613     8.113      360       360           480             480            0          0   
5,249,448.49    9.385     8.885      360       359           360             359            0          0   
1,695,590.49    9.419     8.919      360       360           360             360            0          0   
1,539,125.25    9.256     8.756      360       359           480             479            0          0   
  394,415.82    9.471     8.971      360       360           600             600            0          0   
1,134,504.26    9.439     8.939      360       359           480             479            0          0   
  330,788.10    9.308     8.808      360       360           360             360            0          0   
  415,956.05    9.576     9.076      360       359           600             599            0          0   
  701,712.07    9.859     9.359      360       360           360             360            0          0   
  231,071.37    9.095     8.595      360       359           480             479            0          0   
  344,055.76    8.501     8.001      360       359           360             359            0          0   
  777,629.88    9.787     9.287      360       358           360             358            0          0   
   81,317.95    8.500     8.000      360       359           360             359            0          0   
   55,163.05   11.300    10.800      360       360           480             480            0          0   


                                                             NUMBER OF                                     
                                                              MONTHS               ORIGINAL                
            INITIAL                                RATE     UNTIL NEXT            MONTHS TO                
              RATE                                 CHANGE      RATE               PREPAYMENT               
   GROSS     CHANGE  PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT             PENALTY                 
 MARGIN(%)   CAP(%)   CAP(%)   RATE(%)  RATE(%)  (MONTHS)      DATE      INDEX    EXPIRATION               
----------  -------  --------  -------  -------  ---------  ----------  --------  ----------               
                                                                                                           
   5.868     3.000     1.000    15.273    9.273      6          24      6M LIBOR      24                   
   5.882     3.000     1.000    15.780    9.780      6          24      6M LIBOR      36                   
   5.889     3.000     1.000    15.267    9.267      6          23      6M LIBOR      24                   
   5.894     3.000     1.000    15.649    9.649      6          24      6M LIBOR      24                   
   5.900     2.000     1.000    13.990    7.990      6          11      6M LIBOR      12                   
   5.900     3.000     1.000    17.700   11.700      6          36      6M LIBOR      12                   
   5.900     3.000     1.000    13.900    7.900      6          36      6M LIBOR      24                   
   5.900     3.000     1.000    17.150   11.150      6          60      6M LIBOR      12                   
   5.900     3.000     1.000    14.600    8.600      6          53      6M LIBOR       0                   
   5.907     3.000     1.000    15.051    9.051      6          23      6M LIBOR      36                   
   5.923     3.000     1.000    15.038    9.038      6          24      6M LIBOR      36                   
   5.924     3.000     1.000    15.153    9.153      6          35      6M LIBOR      24                   
   5.931     3.000     1.000    14.989    8.989      6          24      6M LIBOR      24                   
   5.944     3.000     1.000    14.968    8.968      6          23      6M LIBOR      24                   
   5.959     3.000     1.000    15.527    9.527      6          23      6M LIBOR      36                   
   5.962     3.000     1.000    15.327    9.327      6          23      6M LIBOR      12                   
   5.964     3.000     1.000    14.976    8.976      6          35      6M LIBOR      36                   
   5.973     3.000     1.000    15.651    9.651      6          24      6M LIBOR      12                   
   5.980     3.000     1.000    15.135    9.135      6          35      6M LIBOR      36                   
   5.997     3.000     1.000    15.785    9.785      6          35      6M LIBOR      12                   
   6.002     3.000     1.000    16.167   10.167      6          36      6M LIBOR      36                   
   6.018     3.000     1.000    16.538   10.538      6          24      6M LIBOR      12                   
   6.021     3.000     1.000    14.152    8.152      6          24      6M LIBOR      36                   
   6.031     3.000     1.000    15.014    9.014      6          23      6M LIBOR      24                   
   6.033     3.000     1.000    14.613    8.613      6          36      6M LIBOR      36                   
   6.038     3.000     1.000    15.385    9.385      6          23      6M LIBOR      24                   
   6.112     3.000     1.000    15.419    9.419      6          24      6M LIBOR      36                   
   6.116     3.000     1.000    15.256    9.256      6          23      6M LIBOR      24                   
   6.134     3.000     1.000    15.471    9.471      6          24      6M LIBOR      36                   
   6.139     3.000     1.000    15.439    9.439      6          59      6M LIBOR      36                   
   6.140     2.000     1.000    15.308    9.308      6          12      6M LIBOR      24                   
   6.170     3.000     1.000    15.576    9.576      6          23      6M LIBOR      36                   
   6.268     3.000     1.000    15.859    9.859      6          60      6M LIBOR       0                   
   6.290     3.000     1.000    15.095    9.095      6          23      6M LIBOR      36                   
   6.294     3.000     1.000    14.501    8.501      6          23      6M LIBOR      36                   
   6.355     3.000     1.000    15.787    9.787      6          22      6M LIBOR      36                   
   6.400     2.000     1.000    14.500    8.500      6          11      6M LIBOR      12                   
   6.400     3.000     1.000    17.300   11.300      6          36      6M LIBOR      36                   

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES   
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.   

                                                                              26

FWP 27th Page of 79 TOC 1st Previous Next ↓Bottom Just 27th
                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 GROUP II ADJUSTABLE RATE MORTGAGE LOANS (CONT.)

                                                        [Enlarge/Download Table]


                                                         ORIGINAL        REMAINING     ORIGINAL  REMAINING
                                                       AMORTIZATION    AMORTIZATION   INTEREST-  INTEREST-
                         NET     ORIGINAL  REMAINING       TERM            TERM          ONLY       ONLY  
  CURRENT    MORTGAGE  MORTGAGE    TERM       TERM    (LESS IO-TERM)  (LESS IO-TERM)     TERM       TERM  
BALANCE ($)   RATE(%)  RATE(%)   (MONTHS)   (MONTHS)     (MONTHS)        (MONTHS)      (MONTHS)   (MONTHS)
-----------  --------  --------  --------  ---------  --------------  --------------  ---------  ---------
                                                                                                          
163,539.43     8.800     8.300      360        359           300             300           60         59  
112,941.59     9.850     9.350      360        360           360             360            0          0  
176,997.31    10.331     9.831      360        359           480             479            0          0  
 48,790.77     9.950     9.450      360        360           480             480            0          0  
309,103.31     9.990     9.490      360        359           300             300           60         59  


                                                           NUMBER OF                                      
                                                             MONTHS               ORIGINAL                
           INITIAL                                 RATE    UNTIL NEXT            MONTHS TO                
            RATE                                  CHANGE      RATE               PREPAYMENT               
  GROSS    CHANGE   PERIODIC  MAXIMUM  MINIMUM  FREQUENCY  ADJUSTMENT             PENALTY                 
MARGIN(%)  CAP(%)    CAP(%)   RATE(%)  RATE(%)   (MONTHS)     DATE       INDEX   EXPIRATION               
---------  -------  --------  -------  -------  ---------  ----------  --------  ----------               
                                                                                                          
  6.400     3.000     1.000    14.800    8.800      6          23      6M LIBOR      24                   
  6.400     3.000     1.000    15.850    9.850      6          24      6M LIBOR      12                   
  6.400     3.000     1.000    16.331   10.331      6          23      6M LIBOR      24                   
  6.400     3.000     1.000    15.950    9.950      6          60      6M LIBOR      36                   
  6.400     3.000     1.000    15.990    9.990      6          23      6M LIBOR      36                   

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              27

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 ONE MONTH LIBOR CORRIDOR TABLE FOR THE GROUP 1 CERTIFICATES

                                                                [Download Table]

        BEGINNING   ENDING    NOTIONAL       1ML STRIKE        1ML STRIKE   
PERIOD   ACCRUAL   ACCRUAL   BALANCE ($)  LOWER COLLAR (%)  UPPER COLLAR (%)
------   -------   -------   -----------  ----------------  ----------------
                                                                            
   1    06/26/07   07/25/07  580,019,000        8.352            10.830     
   2    07/25/07   08/25/07  577,686,248        7.802            10.830     
   3    08/25/07   09/25/07  573,977,320        7.802            10.830     
   4    09/25/07   10/25/07  568,876,537        8.068            10.830     
   5    10/25/07   11/25/07  562,382,433        7.802            10.830     
   6    11/25/07   12/25/07  554,495,805        8.070            10.830     

 ONE MONTH LIBOR CORRIDOR TABLE FOR THE GROUP 2 CERTIFICATES

                                                                [Download Table]

        BEGINNING   ENDING    NOTIONAL       1ML STRIKE        1ML STRIKE   
PERIOD   ACCRUAL   ACCRUAL   BALANCE ($)  LOWER COLLAR (%)  UPPER COLLAR (%)
------   -------   -------   -----------  ----------------  ----------------
                                                                            
   1    06/26/07   07/25/07  850,381,000        8.425            10.320     
   2    07/25/07   08/25/07  846,773,360        7.870            10.320     
   3    08/25/07   09/25/07  841,140,568        7.870            10.320     
   4    09/25/07   10/25/07  833,459,673        8.139            10.320     
   5    10/25/07   11/25/07  823,730,267        7.871            10.320     
   6    11/25/07   12/25/07  811,953,735        8.140            10.320     

ONE MONTH LIBOR CORRIDOR TABLE FOR THE CLASS M4, CLASS M5, CLASS M6, & CLASS B
CERTIFICATES

                                                                [Download Table]

        BEGINNING   ENDING    NOTIONAL       1ML STRIKE        1ML STRIKE   
PERIOD   ACCRUAL   ACCRUAL   BALANCE ($)  LOWER COLLAR (%)  UPPER COLLAR (%)
------   -------   -------   -----------  ----------------  ----------------
                                                                            
   1     06/26/07  07/25/07  120,000,000        7.451            8.380      
   2     07/25/07  08/25/07  120,000,000        6.898            8.380      
   3     08/25/07  09/25/07  120,000,000        6.899            8.380      
   4     09/25/07  10/25/07  120,000,000        7.166            8.380      
   5     10/25/07  11/25/07  120,000,000        6.899            8.380      
   6     11/25/07  12/25/07  120,000,000        7.167            8.380      

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              28

FWP 29th Page of 79 TOC 1st Previous Next ↓Bottom Just 29th
(MERRILL LYNCH LOGO)                                 FREE WRITING PROSPECTUS FOR
                                                                    FFMER 2007-4

SWAP CONTRACT SCHEDULE

                                                                [Download Table]

                                                 FIXED 
         BEGINNING    ENDING       NOTIONAL     STRIKE 
PERIOD    ACCRUAL     ACCRUAL    BALANCE ($)   RATE (%)
------  ----------  ----------  -------------  --------
                                                       
  1     06/26/2007  07/25/2007              0       NA 
  2     07/25/2007  08/25/2007              0       NA 
  3     08/25/2007  09/25/2007              0       NA 
  4     09/25/2007  10/25/2007              0       NA 
  5     10/25/2007  11/25/2007              0       NA 
  6     11/25/2007  12/25/2007              0       NA 
  7     12/25/2007  01/25/2008  1,492,258,070    5.500 
  8     01/25/2008  02/25/2008  1,464,352,871    5.500 
  9     02/25/2008  03/25/2008  1,435,274,831    5.500 
  10    03/25/2008  04/25/2008  1,404,318,001    5.500 
  11    04/25/2008  05/25/2008  1,368,944,131    5.500 
  12    05/25/2008  06/25/2008  1,330,216,185    5.500 
  13    06/25/2008  07/25/2008  1,284,727,486    5.500 
  14    07/25/2008  08/25/2008  1,242,112,950    5.500 
  15    08/25/2008  09/25/2008  1,202,685,969    5.500 
  16    09/25/2008  10/25/2008  1,166,030,853    5.500 
  17    10/25/2008  11/25/2008  1,131,861,906    5.500 
  18    11/25/2008  12/25/2008  1,099,361,483    5.500 
  19    12/25/2008  01/25/2009  1,068,915,852    5.500 
  20    01/25/2009  02/25/2009  1,039,987,428    5.500 
  21    02/25/2009  03/25/2009  1,013,054,171    5.500 
  22    03/25/2009  04/25/2009    987,086,146    5.500 
  23    04/25/2009  05/25/2009    884,368,638    5.500 
  24    05/25/2009  06/25/2009    754,723,763    5.500 
  25    06/25/2009  07/25/2009    645,752,823    5.500 
  26    07/25/2009  08/25/2009    559,141,229    5.500 
  27    08/25/2009  09/25/2009    511,986,456    5.500 
  28    09/25/2009  10/25/2009    476,467,738    5.500 
  29    10/25/2009  11/25/2009    448,651,382    5.500 
  30    11/25/2009  12/25/2009    423,532,952    5.500 

                                                                [Download Table]

                                                 FIXED 
         BEGINNING    ENDING       NOTIONAL     STRIKE 
PERIOD    ACCRUAL     ACCRUAL    BALANCE ($)   RATE (%)
------  ----------  ----------  -------------  --------
                                                       
  31    12/25/2009  01/25/2010    400,163,295    5.500 
  32    01/25/2010  02/25/2010    379,247,009    5.500 
  33    02/25/2010  03/25/2010    360,453,998    5.500 
  34    03/25/2010  04/25/2010    343,221,242    5.500 
  35    04/25/2010  05/25/2010    321,341,086    5.500 
  36    05/25/2010  06/25/2010    289,331,519    5.500 
  37    06/25/2010  07/25/2010    259,928,887    5.500 
  38    07/25/2010  08/25/2010    235,640,172    5.500 
  39    08/25/2010  09/25/2010    216,004,392    5.500 
  40    09/25/2010  10/25/2010    199,726,304    5.500 
  41    10/25/2010  11/25/2010    185,583,498    5.500 
  42    11/25/2010  12/25/2010    172,584,673    5.500 
  43    12/25/2010  01/25/2011    160,992,007    5.500 
  44    01/25/2011  02/25/2011    150,493,801    5.500 
  45    02/25/2011  03/25/2011    140,999,495    5.500 
  46    03/25/2011  04/25/2011    140,999,495    5.500 
  47    04/25/2011  05/25/2011    140,999,495    5.500 
  48    05/25/2011  06/25/2011    140,999,495    5.500 
  49    06/25/2011  07/25/2011    140,999,495    5.500 
  50    07/25/2011  08/25/2011    140,999,495    5.500 
  51    08/25/2011  09/25/2011    135,108,914    5.500 
  52    09/25/2011  10/25/2011    129,276,434    5.500 
  53    10/25/2011  11/25/2011    123,795,311    5.500 
  54    11/25/2011  12/25/2011    118,647,191    5.500 
  55    12/25/2011  01/25/2012    113,789,016    5.500 
  56    01/25/2012  02/25/2012    109,213,312    5.500 
  57    02/25/2012  03/25/2012    104,890,645    5.500 
  58    03/25/2012  04/25/2012    100,736,806    5.500 
  59    04/25/2012  05/25/2012     96,708,459    5.500 
  60    05/25/2012  06/25/2012     92,861,729    5.500 

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

                                                                              29

FWP 30th Page of 79 TOC 1st Previous Next ↓Bottom Just 30th
(MERRILL LYNCH LOGO)                                 FREE WRITING PROSPECTUS FOR
                                                                    FFMER 2007-4

 GROUP 1 AVAILABLE FUNDS CAP TABLE

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  1      7/25/2007        8.522        8.522 
  2      8/25/2007        7.972       11.000 
  3      9/25/2007        7.972       11.000 
  4      10/25/2007       8.238       11.000 
  5      11/25/2007       7.972       11.000 
  6      12/25/2007       8.239       11.000 
  7      1/25/2008        7.974       22.452 
  8      2/25/2008        7.974       22.433 
  9      3/25/2008        8.162       22.624 
  10     4/25/2008        7.974       22.450 
  11     5/25/2008        8.065       22.538 
  12     6/25/2008        7.977       22.436 
  13     7/25/2008        8.072       22.434 
  14     8/25/2008        7.980       22.260 
  15     9/25/2008        7.980       22.200 
  16     10/25/2008       8.075       22.254 
  17     11/25/2008       7.980       22.135 
  18     12/25/2008       8.076       22.217 
  19     1/25/2009        7.982       22.123 
  20     2/25/2009        7.982       22.131 
  21     3/25/2009        8.288       22.462 
  22     4/25/2009        7.983       22.187 
  23     5/25/2009        8.089       21.428 
  24     6/25/2009        9.180       21.411 
  25     7/25/2009        9.590       20.730 
  26     8/25/2009        9.398       19.554 
  27     9/25/2009        9.386       19.167 
  28     10/25/2009       9.583       19.031 

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  29     11/25/2009        9.375      18.559 
  30     12/25/2009        9.580      19.037 
  31     1/25/2010         9.367      18.691 
  32     2/25/2010         9.362      18.505 
  33     3/25/2010        10.046      19.131 
  34     4/25/2010         9.351      18.197 
  35     5/25/2010         9.573      18.182 
  36     6/25/2010         9.632      18.181 
  37     7/25/2010         9.926      18.113 
  38     8/25/2010         9.676      17.383 
  39     9/25/2010         9.669      17.036 
  40     10/25/2010        9.916      17.060 
  41     11/25/2010        9.654      16.515 
  42     12/25/2010        9.919      17.167 
  43     1/25/2011         9.653      16.752 
  44     2/25/2011         9.646      16.560 
  45     3/25/2011        10.492      17.466 
  46     4/25/2011         9.631      16.512 
  47     5/25/2011         9.885      16.980 
  48     6/25/2011         9.616      16.892 
  49     7/25/2011         9.865      17.384 
  50     8/25/2011         9.600      17.199 
  51     9/25/2011         9.592      17.117 
  52     10/25/2011        9.840      17.357 
  53     11/25/2011        9.576      16.947 
  54     12/25/2011        9.825      17.303 
  55     1/25/2012         9.560      16.913 
  56     2/25/2012         9.552      16.841 

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  57     3/25/2012        10.078      17.461 
  58     4/25/2012         9.536      16.702 
  59     5/25/2012         9.787      16.964 
  60     6/25/2012         9.533      16.580 
  61     7/25/2012         9.861      12.143 
  62     8/25/2012         9.534      11.730 
  63     9/25/2012         9.526      11.709 
  64     10/25/2012        9.834      12.077 
  65     11/25/2012        9.508      11.666 
  66     12/25/2012        9.817      12.039 
  67     1/25/2013         9.493      11.635 
  68     2/25/2013         9.484      11.613 
  69     3/25/2013        10.491      12.833 
  70     4/25/2013         9.467      11.569 
  71     5/25/2013         9.773      11.932 
  72     6/25/2013         9.449      11.530 
  73     7/25/2013         9.755      11.898 
  74     8/25/2013         9.431      11.491 
  75     9/25/2013         9.422      11.469 
  76     10/25/2013        9.727      11.828 
  77     11/25/2013        9.404      11.424 
  78     12/25/2013        9.708      11.787 
  79     1/25/2014         0.000      11.389 
  80     2/25/2014         0.000       0.000 
  81     3/25/2014         0.000       0.000 
  82     4/25/2014         0.000       0.000 
  83     5/25/2014         0.000       0.000 
  84     6/25/2014         0.000       0.000 

(1)  Available Funds Cap for the Group 1 Certificates is a per annum rate equal 
   to 12 times the quotient of (x) the total scheduled interest based on the
    Group I Net Mortgage Rates in effect on the related due date, less the pro
   rata portion (calculated based on the ratio of the Group I Mortgage Loans
to the total pool of Mortgage Loans) of any Net Swap Payments or Swap 
    Termination Payments (other than Defaulted Swap Termination Payments) owed
    to the Swap Counterparty for such Distribution Date, and (y) the aggregate
    principal balance of the Group I Mortgage Loans as of the first day of the
     applicable due period, multiplied by 30 and divided by the actual number of
days in the related accrual period.                                   

(2)  Assumes no losses, 10% optional termination, 20% HEP on fixed rate         
collateral and 100% PPC on the adjustable rate collateral, and 1 month
     LIBOR and 6 month LIBOR remain constant at 5.321% and 5.388%, respectively.

(3)  Assumes no losses, 10% optional termination, 20% HEP on fixed rate         
collateral and 100% PPC on the adjustable rate collateral, and 1 month
    LIBOR and 6 month LIBOR remain constant at 5.321% and 5.388% respectively,
for the first Distribution Date and each increase to 20.0000% for each
 Distribution Date thereafter. The values indicated include any Net Swap
     Payments received from the Swap Counterparty, and proceeds from the related
     Corridor Contract, although such proceeds are excluded from the calculation
of the Available Funds Cap described herein.                          

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

                                                                              30

FWP 31st Page of 79 TOC 1st Previous Next ↓Bottom Just 31st
(MERRILL LYNCH LOGO)                                 FREE WRITING PROSPECTUS FOR
                                                                    FFMER 2007-4

 GROUP 2 AVAILABLE FUNDS CAP TABLE

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  1      7/25/2007         8.605       8.605 
  2      8/25/2007         8.050      10.500 
  3      9/25/2007         8.050      10.500 
  4      10/25/2007        8.319      10.500 
  5      11/25/2007        8.051      10.500 
  6      12/25/2007        8.320      10.500 
  7      1/25/2008         8.053      22.530 
  8      2/25/2008         8.053      22.512 
  9      3/25/2008         8.247      22.708 
  10     4/25/2008         8.054      22.529 
  11     5/25/2008         8.148      22.620 
  12     6/25/2008         8.061      22.519 
  13     7/25/2008         8.158      22.521 
  14     8/25/2008         8.064      22.345 
  15     9/25/2008         8.064      22.286 
  16     10/25/2008        8.163      22.342 
  17     11/25/2008        8.066      22.221 
  18     12/25/2008        8.165      22.307 
  19     1/25/2009         8.068      22.210 
  20     2/25/2009         8.069      22.219 
  21     3/25/2009         8.388      22.564 
  22     4/25/2009         8.074      22.279 
  23     5/25/2009         8.189      21.531 
  24     6/25/2009         9.384      21.743 
  25     7/25/2009         9.668      20.901 
  26     8/25/2009         9.473      19.718 
  27     9/25/2009         9.500      19.369 
  28     10/25/2009        9.702      19.241 

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  29     11/25/2009        9.491      18.766 
  30     12/25/2009        9.700      19.328 
  31     1/25/2010         9.484      18.921 
  32     2/25/2010         9.480      18.734 
  33     3/25/2010        10.180      19.399 
  34     4/25/2010         9.482      18.453 
  35     5/25/2010         9.701      18.440 
  36     6/25/2010         9.714      18.454 
  37     7/25/2010        10.001      18.334 
  38     8/25/2010         9.750      17.596 
  39     9/25/2010         9.744      17.263 
  40     10/25/2010        9.995      17.300 
  41     11/25/2010        9.732      16.747 
  42     12/25/2010        9.992      17.465 
  43     1/25/2011         9.726      16.988 
  44     2/25/2011         9.720      16.797 
  45     3/25/2011        10.575      17.742 
  46     4/25/2011         9.707      16.767 
  47     5/25/2011         9.965      17.241 
  48     6/25/2011         9.695      17.131 
  49     7/25/2011         9.949      17.629 
  50     8/25/2011         9.683      17.437 
  51     9/25/2011         9.676      17.357 
  52     10/25/2011        9.929      17.610 
  53     11/25/2011        9.663      17.190 
  54     12/25/2011        9.917      17.541 
  55     1/25/2012         9.651      17.142 
  56     2/25/2012         9.645      17.071 

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  57     3/25/2012        10.178      17.709 
  58     4/25/2012         9.631      16.936 
  59     5/25/2012         9.887      17.207 
  60     6/25/2012         9.641      16.825 
  61     7/25/2012         9.958      12.382 
  62     8/25/2012         9.630      11.963 
  63     9/25/2012         9.623      11.943 
  64     10/25/2012        9.936      12.320 
  65     11/25/2012        9.609      11.903 
  66     12/25/2012        9.922      12.288 
  67     1/25/2013         9.595      11.872 
  68     2/25/2013         9.588      11.852 
  69     3/25/2013        10.607      13.099 
  70     4/25/2013         9.573      11.811 
  71     5/25/2013         9.885      12.183 
  72     6/25/2013         9.559      11.778 
  73     7/25/2013         9.870      12.150 
  74     8/25/2013         9.545      11.737 
  75     9/25/2013         9.537      11.716 
  76     10/25/2013        9.848      12.085 
  77     11/25/2013        9.523      11.674 
  78     12/25/2013        9.833      12.050 
  79     1/25/2014         0.000      11.640 
  80     2/25/2014         0.000       0.000 
  81     3/25/2014         0.000       0.000 
  82     4/25/2014         0.000       0.000 
  83     5/25/2014         0.000       0.000 
  84     6/25/2014         0.000       0.000 

(1)  Available Funds Cap for the Group 2 Certificates is a per annum rate equal 
   to 12 times the quotient of (x) the total scheduled interest based on the
     Group II Net Mortgage Rates in effect on the related due date, less the pro
    rata portion (calculated based on the ratio of the Group II Mortgage Loans
to the total pool of Mortgage Loans) of any Net Swap Payments or Swap 
    Termination Payments (other than Defaulted Swap Termination Payments) owed
    to the Swap Counterparty for such Distribution Date, and (y) the aggregate
     principal balance of the Group II Mortgage Loans as of the first day of the
     applicable due period, multiplied by 30 and divided by the actual number of
days in the related accrual period.                                   

(2)  Assumes no losses, 10% optional termination, 20% HEP on fixed rate         
collateral and 100% PPC on the adjustable rate collateral, and 1 month
     LIBOR and 6 month LIBOR remain constant at 5.321% and 5.388%, respectively.

(3)  Assumes no losses, 10% optional termination, 20% HEP on fixed rate         
collateral and 100% PPC on the adjustable rate collateral, and 1 month
    LIBOR and 6 month LIBOR remain constant at 5.321% and 5.388% respectively,
for the first Distribution Date and each increase to 20.0000% for each
 Distribution Date thereafter. The values indicated include any Net Swap
    Payments received from the Swap Counterparty and proceeds from the related
     Corridor Contract, although such proceeds are excluded from the calculation
of the Available Funds Cap described herein.                          

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

                                                                              31

FWP 32nd Page of 79 TOC 1st Previous Next ↓Bottom Just 32nd
(MERRILL LYNCH LOGO)                                 FREE WRITING PROSPECTUS FOR
                                                                    FFMER 2007-4

CLASS M4, CLASS M5, CLASS M6, & CLASS B CERTIFICATES AVAILABLE FUNDS CAP TABLE

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  1      7/25/2007         8.571       8.571 
  2      8/25/2007         8.018       9.500 
  3      9/25/2007         8.019       9.500 
  4      10/25/2007        8.286       9.500 
  5      11/25/2007        8.019       9.500 
  6      12/25/2007        8.287       9.500 
  7      1/25/2008         8.020      22.498 
  8      2/25/2008         8.021      22.480 
  9      3/25/2008         8.213      22.674 
  10     4/25/2008         8.021      22.497 
  11     5/25/2008         8.114      22.587 
  12     6/25/2008         8.027      22.485 
  13     7/25/2008         8.123      22.486 
  14     8/25/2008         8.030      22.311 
  15     9/25/2008         8.030      22.251 
  16     10/25/2008        8.127      22.306 
  17     11/25/2008        8.031      22.186 
  18     12/25/2008        8.129      22.270 
  19     1/25/2009         8.034      22.175 
  20     2/25/2009         8.034      22.183 
  21     3/25/2009         8.347      22.523 
  22     4/25/2009         8.037      22.242 
  23     5/25/2009         8.149      21.489 
  24     6/25/2009         9.302      21.608 
  25     7/25/2009         9.637      20.831 
  26     8/25/2009         9.443      19.651 
  27     9/25/2009         9.454      19.287 
  28     10/25/2009        9.654      19.156 

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  29     11/25/2009        9.444      18.682 
  30     12/25/2009        9.651      19.210 
  31     1/25/2010         9.436      18.828 
  32     2/25/2010         9.432      18.641 
  33     3/25/2010        10.126      19.290 
  34     4/25/2010         9.429      18.349 
  35     5/25/2010         9.649      18.335 
  36     6/25/2010         9.680      18.343 
  37     7/25/2010         9.970      18.245 
  38     8/25/2010         9.720      17.510 
  39     9/25/2010         9.713      17.171 
  40     10/25/2010        9.963      17.203 
  41     11/25/2010        9.701      16.653 
  42     12/25/2010        9.963      17.344 
  43     1/25/2011         9.696      16.892 
  44     2/25/2011         9.690      16.701 
  45     3/25/2011        10.541      17.630 
  46     4/25/2011         9.676      16.664 
  47     5/25/2011         9.933      17.135 
  48     6/25/2011         9.663      17.034 
  49     7/25/2011         9.915      17.530 
  50     8/25/2011         9.649      17.341 
  51     9/25/2011         9.642      17.260 
  52     10/25/2011        9.893      17.508 
  53     11/25/2011        9.628      17.091 
  54     12/25/2011        9.880      17.445 
  55     1/25/2012         9.614      17.049 
  56     2/25/2012         9.607      16.978 

                                                                [Download Table]

                        Available   Available
                        Funds Cap   Funds Cap
Period   Payment Date   (%)(1)(2)   (%)(1)(3)
------   ------------   ---------   ---------
                                             
  57     3/25/2012        10.138      17.608 
  58     4/25/2012         9.593      16.841 
  59     5/25/2012         9.846      17.108 
  60     6/25/2012         9.597      16.726 
  61     7/25/2012         9.918      12.285 
  62     8/25/2012         9.591      11.869 
  63     9/25/2012         9.583      11.848 
  64     10/25/2012        9.895      12.222 
  65     11/25/2012        9.568      11.807 
  66     12/25/2012        9.880      12.187 
  67     1/25/2013         9.554      11.776 
  68     2/25/2013         9.546      11.755 
  69     3/25/2013        10.560      12.992 
  70     4/25/2013         9.530      11.713 
  71     5/25/2013         9.840      12.082 
  72     6/25/2013         9.515      11.678 
  73     7/25/2013         9.824      12.048 
  74     8/25/2013         9.499      11.638 
  75     9/25/2013         9.491      11.616 
  76     10/25/2013        9.799      11.981 
  77     11/25/2013        9.475      11.573 
  78     12/25/2013        9.783      11.944 
  79     1/25/2014         0.000      11.539 
  80     2/25/2014         0.000       0.000 
  81     3/25/2014         0.000       0.000 
  82     4/25/2014         0.000       0.000 
  83     5/25/2014         0.000       0.000 
  84     6/25/2014         0.000       0.000 

(1)  Available Funds Cap for the Class M4, Class M5, Class M6 and Class B       
Certificates is a per annum rate equal to the weighted average        
(weighted in proportion to the results of subtracting from the        
aggregate principal balance of each loan group the current principal  
balance of the related Group 1 or Group 2 Certificates) of the Group 1
Available Funds Cap and the Group 2 Available Funds Cap.              

(2)  Assumes no losses, 10% optional termination, 20% HEP on fixed rate         
collateral and 100% PPC on the adjustable rate collateral, and 1 month
     LIBOR and 6 month LIBOR remain constant at 5.321% and 5.388%, respectively.

(3)  Assumes no losses, 10% optional termination, 20% HEP on fixed rate         
collateral and 100% PPC on the adjustable rate collateral, and 1 month
     LIBOR and 6 month LIBOR remain constant at 5.321% and 5.388%, respectively,
for the first Distribution Date and each increase to 20.0000% for each
 Distribution Date thereafter. The values indicated include any Net Swap
    Payments received from the Swap Counterparty and proceeds from the related
     Corridor Contract, although such proceeds are excluded from the calculation
of the Available Funds Cap described herein.                          

RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES 
SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS. 

                                                                              32

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 DISCOUNT MARGIN TABLE (TO CALL)

                                                        [Enlarge/Download Table]

                         0%            80%            100%          150%            200%    
                   PRICING SPEED  PRICING SPEED  PRICING SPEED  PRICING SPEED  PRICING SPEED
                   -------------  -------------  -------------  -------------  -------------
                                                                                            
CLASS 1-A                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       14             14             14             14             14      
        WAL (YRS)      24.57          2.97           2.34           1.40           1.13     
   MOD DURN (YRS)      12.87          2.59           2.11           1.32           1.08     
 PRINCIPAL WINDOW  07/07 - 05/37  07/07 - 10/15  07/07 - 12/13  07/07 - 03/10  07/07 - 06/09

CLASS 2-A1                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        6              6              6              6              6      
        WAL (YRS)      19.05          1.16           1.00           0.76           0.64     
   MOD DURN (YRS)      11.25          1.11           0.96           0.74           0.62     
 PRINCIPAL WINDOW  07/07 - 06/34  07/07 - 06/09  07/07 - 03/09  07/07 - 09/08  07/07 - 06/08

CLASS 2-A2                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       13             13             13             13             13      
        WAL (YRS)      28.91          2.36           2.00           1.50           1.17     
   MOD DURN (YRS)      14.29          2.19           1.87           1.43           1.12     
 PRINCIPAL WINDOW  06/34 - 05/37  06/09 - 05/10  03/09 - 10/09  09/08 - 04/09  06/08 - 11/08

CLASS 2-A3                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       17             17             17             17             17      
        WAL (YRS)      29.91          4.76           3.50           2.01           1.64     
   MOD DURN (YRS)      14.43          4.10           3.12           1.88           1.55     
 PRINCIPAL WINDOW  05/37 - 05/37  05/10 - 01/15  10/09 - 05/13  04/09 - 09/09  11/08 - 04/09

CLASS 2-A4                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       25             25             25             25             25      
        WAL (YRS)      29.91          8.25           6.44           2.50           1.93     
   MOD DURN (YRS)      14.29          6.52           5.34           2.31           1.81     
 PRINCIPAL WINDOW  05/37 - 05/37  01/15 - 10/15  05/13 - 12/13  09/09 - 03/10  04/09 - 06/09

CLASS 1-M1                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       25             25             25             25             25      
        WAL (YRS)      29.91          5.52           4.69           4.00           2.58     
   MOD DURN (YRS)      14.29          4.62           4.05           3.54           2.38     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  01/11 - 12/13  06/11 - 06/11  01/10 - 01/10

CLASS 2-M1                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       25             25             25             25             25      
        WAL (YRS)      29.91          5.53           4.70           4.00           2.58     
   MOD DURN (YRS)      14.29          4.62           4.06           3.54           2.38     

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              33

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                            
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  01/11 - 12/13  06/11 - 06/11  01/10 - 01/10

CLASS 1-M2                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       26             26             26             26             26      
        WAL (YRS)      29.91          5.51           4.59           3.95           2.55     
   MOD DURN (YRS)      14.28          4.61           3.97           3.50           2.35     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  11/10 - 12/13  03/11 - 06/11  11/09 - 01/10

CLASS 2-M2                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       26             26             26             26             26      
        WAL (YRS)      29.91          5.52           4.59           3.95           2.55     
   MOD DURN (YRS)      14.28          4.61           3.97           3.50           2.35     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  11/10 - 12/13  03/11 - 06/11  11/09 - 01/10

CLASS 1-M3                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       29             29             29             29             29      
        WAL (YRS)      29.91          5.51           4.54           3.69           2.37     
   MOD DURN (YRS)      14.23          4.61           3.93           3.30           2.20     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  10/10 - 12/13  12/10 - 06/11  09/09 - 01/10

CLASS 2-M3                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       29             29             29             29             29      
        WAL (YRS)      29.91          5.52           4.55           3.70           2.38     
   MOD DURN (YRS)      14.23          4.61           3.93           3.30           2.20     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  10/10 - 12/13  12/10 - 06/11  09/09 - 01/10

CLASS M4                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       40             40             40             40             40      
        WAL (YRS)      29.91          5.51           4.52           3.54           2.29     
   MOD DURN (YRS)      14.05          4.59           3.90           3.17           2.12     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  09/10 - 12/13  10/10 - 06/11  08/09 - 01/10

CLASS M5                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       45             45             45             45             45      
        WAL (YRS)      29.91          5.51           4.50           3.44           2.27     
   MOD DURN (YRS)      13.97          4.58           3.88           3.08           2.10     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  09/10 - 12/13  08/10 - 06/11  08/09 - 01/10

CLASS M6                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       75             75             75             75             75      
        WAL (YRS)      29.91          5.51           4.49           3.38           2.23     

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              34

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                            
   MOD DURN (YRS)      13.51          4.53           3.84           3.01           2.06     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  08/10 - 12/13  07/10 - 06/11  07/09 - 01/10

CLASS B1                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       120            120            120            120            120     
        WAL (YRS)      29.91          5.51           4.48           3.33           2.21     
   MOD DURN (YRS)      12.85          4.46           3.78           2.94           2.03     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  08/10 - 12/13  06/10 - 06/11  07/09 - 01/10

CLASS B2                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       175            175            175            175            175     
        WAL (YRS)      29.91          5.51           4.48           3.27           2.21     
   MOD DURN (YRS)      12.12          4.38           3.72           2.86           2.01     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  08/10 - 12/13  06/10 - 06/11  07/09 - 01/10

CLASS B3                                                                                    
PRICE = 96.3297%                                                                            
  DISCOUNT MARGIN       283            335            350            380            433     
        WAL (YRS)      29.91          5.51           4.47           3.24           2.21     
   MOD DURN (YRS)      10.92          4.22           3.59           2.76           1.96     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  07/10 - 12/13  05/10 - 06/11  07/09 - 01/10

CLASS 1A                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       14              14            14             14             14      
        WAL (YRS)      24.57           2.97          2.34           1.40           1.13     
   MOD DURN (YRS)      12.87           2.59          2.11           1.32           1.08     
 PRINCIPAL WINDOW  07/07 - 05/37  07/07 - 10/15  07/07 - 12/13  07/07 - 03/10  07/07 - 06/09

CLASS 2A1                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        6              6              6              6              6      
        WAL (YRS)      19.05           1.16          1.00           0.76           0.64     
   MOD DURN (YRS)      11.25           1.11          0.96           0.74           0.62     
 PRINCIPAL WINDOW  07/07 - 06/34  07/07 - 06/09  07/07 - 03/09  07/07 - 09/08  07/07 - 06/08

CLASS 2A2                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       13              13            13             13             13      
        WAL (YRS)      28.91           2.36          2.00           1.50           1.17     
   MOD DURN (YRS)      14.29           2.19          1.87           1.43           1.12     
 PRINCIPAL WINDOW  06/34 - 05/37  06/09 - 05/10  03/09 - 10/09  09/08 - 04/09  06/08 - 11/08

CLASS 2A3                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       17              17            17             17             17      
        WAL (YRS)      29.91           4.76          3.50           2.01           1.64     
   MOD DURN (YRS)      14.43           4.10          3.12           1.88           1.55     

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              35

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                            
 PRINCIPAL WINDOW  05/37 - 05/37  05/10 - 01/15  10/09 - 05/13  04/09 - 09/09  11/08 - 04/09

CLASS 2A4                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       25              25            25             25             25      
        WAL (YRS)      29.91           8.25          6.44           2.50           1.93     
   MOD DURN (YRS)      14.29           6.52          5.34           2.31           1.81     
 PRINCIPAL WINDOW  05/37 - 05/37  01/15 - 10/15  05/13 - 12/13  09/09 - 03/10  04/09 - 06/09

CLASS 1M1                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       25              25            25             25             25      
        WAL (YRS)      29.91           5.52          4.69           4.00           2.58     
   MOD DURN (YRS)      14.29           4.62          4.05           3.54           2.38     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  01/11 - 12/13  06/11 - 06/11  01/10 - 01/10

CLASS 1M2                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       25              25            25             25             25      
        WAL (YRS)      29.91           5.53          4.70           4.00           2.58     
   MOD DURN (YRS)      14.29           4.62          4.06           3.54           2.38     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  01/11 - 12/13  06/11 - 06/11  01/10 - 01/10

CLASS 2M1                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       26              26            26             26             26      
        WAL (YRS)      29.91           5.51          4.59           3.95           2.55     
   MOD DURN (YRS)      14.28           4.61          3.97           3.50           2.35     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  11/10 - 12/13  03/11 - 06/11  11/09 - 01/10

CLASS 2M2                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       26              26            26             26             26      
        WAL (YRS)      29.91           5.52          4.59           3.95           2.55     
   MOD DURN (YRS)      14.28           4.61          3.97           3.50           2.35     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  11/10 - 12/13  03/11 - 06/11  11/09 - 01/10

CLASS 3M1                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       29              29            29             29             29      
        WAL (YRS)      29.91           5.51          4.54           3.69           2.37     
   MOD DURN (YRS)      14.23           4.61          3.93           3.30           2.20     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  10/10 - 12/13  12/10 - 06/11  09/09 - 01/10

CLASS 3M2                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       29              29            29             29             29      
        WAL (YRS)      29.91           5.52          4.55           3.70           2.38     
   MOD DURN (YRS)      14.23           4.61          3.93           3.30           2.20     
 PRINCIPAL WINDOW  05/37 - 05/37  08/10 - 10/15  10/10 - 12/13  12/10 - 06/11  09/09 - 01/10

CLASS M4                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       40              40            40             40             40      
        WAL (YRS)      29.91           5.51          4.52           3.54           2.29     

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              36

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                            
   MOD DURN (YRS)      14.05           4.59          3.90           3.17           2.12     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  09/10 - 12/13  10/10 - 06/11  08/09 - 01/10

CLASS M5                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       45              45            45             45             45      
        WAL (YRS)      29.91           5.51          4.50           3.44           2.27     
   MOD DURN (YRS)      13.97           4.58          3.88           3.08           2.10     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  09/10 - 12/13  08/10 - 06/11  08/09 - 01/10

CLASS M5                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       75              75            75             75             75      
        WAL (YRS)      29.91           5.51          4.49           3.38           2.23     
   MOD DURN (YRS)      13.51           4.53          3.84           3.01           2.06     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  08/10 - 12/13  07/10 - 06/11  07/09 - 01/10

CLASS B1                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       120            120            120            120            120     
        WAL (YRS)      29.91           5.51          4.48           3.33           2.21     
   MOD DURN (YRS)      12.85           4.46          3.78           2.94           2.03     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  08/10 - 12/13  06/10 - 06/11  07/09 - 01/10

CLASS B2                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       175            175            175            175            175     
        WAL (YRS)      29.91           5.51          4.48           3.27           2.21     
   MOD DURN (YRS)      12.12           4.38          3.72           2.86           2.01     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  08/10 - 12/13  06/10 - 06/11  07/09 - 01/10

CLASS B3                                                                                    
PRICE = 96.3297%                                                                            
  DISCOUNT MARGIN       283            335            350            380            433     
        WAL (YRS)      29.91           5.51          4.47           3.24           2.21     
   MOD DURN (YRS)      10.92           4.22          3.59           2.76           1.96     
 PRINCIPAL WINDOW  05/37 - 05/37  07/10 - 10/15  07/10 - 12/13  05/10 - 06/11  07/09 - 01/10

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              37

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 DISCOUNT MARGIN TABLE (TO MATURITY)

                                                        [Enlarge/Download Table]

                         0%            80%            100%          150%            200%    
                   PRICING SPEED  PRICING SPEED  PRICING SPEED  PRICING SPEED  PRICING SPEED
                   -------------  -------------  -------------  -------------  -------------
                                                                                            
CLASS 1-A                                                                                   
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        14             15            15             14              14     
        WAL (YRS)      24.58           3.24          2.56           1.40            1.13    
   MOD DURN (YRS)      12.87           2.73          2.24           1.32            1.08    
 PRINCIPAL WINDOW  07/07 - 06/37  07/07 - 07/27  07/07 - 07/23  07/07 - 03/10  07/07 - 06/09

CLASS 2-A1                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        6              6              6              6              6      
        WAL (YRS)      19.05           1.16          1.00           0.76            0.64    
   MOD DURN (YRS)      11.25           1.11          0.96           0.74            0.62    
 PRINCIPAL WINDOW  07/07 - 06/34  07/07 - 06/09  07/07 - 03/09  07/07 - 09/08  07/07 - 06/08

CLASS 2-A2                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        13             13            13             13              13     
        WAL (YRS)      28.91           2.36          2.00           1.50            1.17    
   MOD DURN (YRS)      14.29           2.19          1.87           1.43            1.12    
 PRINCIPAL WINDOW  06/34 - 05/37  06/09 - 05/10  03/09 - 10/09  09/08 - 04/09  06/08 - 11/08

CLASS 2-A3                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        17             17            17             17              17     
        WAL (YRS)      29.91           4.76          3.50           2.01            1.64    
   MOD DURN (YRS)      14.43           4.10          3.12           1.88            1.55    
 PRINCIPAL WINDOW  05/37 - 05/37  05/10 - 01/15  10/09 - 05/13  04/09 - 09/09  11/08 - 04/09

CLASS 2-A4                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        25             30            30             25              25     
        WAL (YRS)      29.94          11.00          8.63           2.50            1.93    
   MOD DURN (YRS)      14.30           7.98          6.66           2.31            1.81    
 PRINCIPAL WINDOW  05/37 - 06/37  01/15 - 02/27  05/13 - 02/23  09/09 - 03/10  04/09 - 06/09

CLASS 1-M1                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        25             26            26             29              29     
        WAL (YRS)      29.93           6.16          5.20           6.17            4.13    
   MOD DURN (YRS)      14.30           4.97          4.37           5.11            3.62    
 PRINCIPAL WINDOW  05/37 - 06/37  08/10 - 12/23  01/11 - 06/20  12/11 - 05/17  05/10 - 04/14

CLASS 2-M1                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        25             26            26             29              29     
        WAL (YRS)      29.92           6.19          5.24           6.26            4.23    
   MOD DURN (YRS)      14.29           4.98          4.39           5.17            3.70    
 PRINCIPAL WINDOW  05/37 - 06/37  08/10 - 01/24  01/11 - 08/20  12/11 - 09/17  05/10 - 09/14

CLASS 1-M2                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        26             27            27             27              27     

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              38

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                            
        WAL (YRS)      29.93           6.12          5.07           4.34            2.82    
   MOD DURN (YRS)      14.28           4.94          4.27           3.79            2.57    
 PRINCIPAL WINDOW  05/37 - 06/37  08/10 - 11/22  11/10 - 08/19  03/11 - 12/14  11/09 - 07/12

CLASS 2-M2                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        26             27            27             27              27     
        WAL (YRS)      29.92           6.14          5.10           4.38            2.87    
   MOD DURN (YRS)      14.28           4.96          4.28           3.83            2.61    
 PRINCIPAL WINDOW  05/37 - 06/37  08/10 - 11/22  11/10 - 09/19  03/11 - 02/15  11/09 - 09/12

CLASS 1-M3                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        29             30            30             30              30     
        WAL (YRS)      29.93           6.09          5.00           3.97            2.54    
   MOD DURN (YRS)      14.23           4.92          4.21           3.50            2.34    
 PRINCIPAL WINDOW  05/37 - 06/37  08/10 - 11/21  10/10 - 10/18  12/10 - 07/14  09/09 - 03/12

CLASS 2-M3                                                                                  
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        29             30            30             30              30     
        WAL (YRS)      29.92           6.11          5.02           4.01            2.62    
   MOD DURN (YRS)      14.23           4.93          4.23           3.53            2.40    
 PRINCIPAL WINDOW  05/37 - 06/37  08/10 - 11/21  10/10 - 11/18  12/10 - 07/14  09/09 - 04/12

CLASS M4                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        40             41            41             41              41     
        WAL (YRS)      29.92           6.07          4.97           3.82            2.49    
   MOD DURN (YRS)      14.05           4.89          4.17           3.37            2.28    
 PRINCIPAL WINDOW  05/37 - 06/37  07/10 - 04/21  09/10 - 04/18  10/10 - 03/14  08/09 - 01/12

CLASS M5                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        45             46            46             46              47     
        WAL (YRS)      29.92           6.02          4.92           3.70            2.45    
   MOD DURN (YRS)      13.97           4.86          4.14           3.27            2.25    
 PRINCIPAL WINDOW  05/37 - 06/37  07/10 - 07/20  09/10 - 10/17  08/10 - 11/13  08/09 - 10/11

CLASS M6                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN        75             77            77             77              77     
        WAL (YRS)      29.92           5.98          4.88           3.61            2.40    
   MOD DURN (YRS)      13.51           4.79          4.07           3.18            2.20    
 PRINCIPAL WINDOW  05/37 - 06/37  07/10 - 11/19  08/10 - 03/17  07/10 - 07/13  07/09 - 07/11

CLASS B1                                                                                    
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       120            123            123            123            123     
        WAL (YRS)      29.92           5.94          4.82           3.54            2.36    
   MOD DURN (YRS)      12.85           4.69          3.98           3.09            2.15    
 PRINCIPAL WINDOW  05/37 - 06/37  07/10 - 05/19  08/10 - 10/16  06/10 - 03/13  07/09 - 04/11

CLASS B2                                                                                    

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              39

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

                                                        [Enlarge/Download Table]
                                                                                            
PRICE = 100.0000%                                                                           
  DISCOUNT MARGIN       175            178            179            179            179     
        WAL (YRS)      29.92           5.87          4.77           3.46            2.34    
   MOD DURN (YRS)      12.12           4.57          3.89           2.99            2.11    
 PRINCIPAL WINDOW  05/37 - 06/37  07/10 - 08/18  08/10 - 03/16  06/10 - 11/12  07/09 - 01/11

CLASS B3                                                                                    
PRICE = 96.3297%                                                                            
  DISCOUNT MARGIN       283            336            351            380            431     
        WAL (YRS)      29.92           5.75          4.66           3.36            2.30    
   MOD DURN (YRS)      10.92           4.33          3.70           2.85            2.03    
 PRINCIPAL WINDOW  05/37 - 06/37  07/10 - 12/17  07/10 - 09/15  05/10 - 07/12  07/09 - 10/10

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              40

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 BREAKEVEN CDR TABLE

The tables below display the Constant Default Rate ("CDR"), and the related     
cumulative collateral loss, that can be sustained without the referenced Class  
incurring a writedown. Calculations are run to maturity at forward LIBOR, and at
varying loss severity percentages. Other assumptions include: (1) prepayment    
speed at 20% HEP for the fixed rate mortgage loans and 100% PPC for the         
adjustable rate mortgage loans, (2) 0 month lag from default to loss, (3) 100%  
P&I advancing, (4) triggers fail (i.e., no OC stepdown):                        

                                                                [Download Table]

                                  FORWARD LIBOR        
                         ------------------------------
                         35% LOSS   45% LOSS   55% LOSS
                         SEVERITY   SEVERITY   SEVERITY
                         --------   --------   --------
                                                       
CLASS 1-M1   CDR Break    32.66%     23.63%     18.52% 
             Cum Loss     20.45%     21.51%     22.27% 

CLASS 2-M1   CDR Break    32.65%     23.63%     18.51% 
             Cum Loss     20.44%     21.51%     22.26% 

CLASS 1-M2   CDR Break    25.63%     19.02%     15.12% 
             Cum Loss     17.63%     18.56%     19.22% 

CLASS 2-M2   CDR Break    25.63%     19.02%     15.12% 
             Cum Loss     17.63%     18.56%     19.22% 

CLASS 1-M3   CDR Break    22.40%     16.82%     13.46% 
             Cum Loss     16.15%     17.00%     17.60% 

CLASS 2-M3   CDR Break    22.39%     16.81%     13.46% 
             Cum Loss     16.14%     17.00%     17.60% 

CLASS M4     CDR Break    19.72%     14.95%     12.04% 
             Cum Loss     14.81%     15.59%     16.14% 

CLASS M5     CDR Break    17.58%     13.43%     10.87% 
             Cum Loss     13.65%     14.37%     14.88% 

CLASS M5     CDR Break    16.21%     12.44%     10.10% 
             Cum Loss     12.87%     13.55%     14.03% 

CLASS B1     CDR Break    14.64%     11.30%      9.19% 
             Cum Loss     11.94%     12.56%     12.98% 

CLASS B2     CDR Break    13.36%     10.34%      8.43% 
             Cum Loss     11.13%     11.70%     12.08% 

CLASS B3     CDR Break    11.75%      9.17%      7.52% 
             Cum Loss     10.08%     10.60%     10.97% 

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              41

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 (PERFORMANCE GRAPH)

 (PERFORMANCE GRAPH)

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              42

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                                                     FREE WRITING PROSPECTUS FOR
(MERRILL LYNCH LOGO)                                                FFMER 2007-4

 EXCESS SPREAD

The table below displays excess spread in bps. Calculations are run to call at  
both static (1ML = 5.321% and 6ML = 5.388%) and forward LIBOR. Excess spread    
means the per annum rate equal to 12 times the quotient of (x) the difference   
between (a) the sum of the total scheduled interest of the mortgage loans based 
on the Net Mortgage Rates in effect on the related due date, any Net Swap       
Payments received from the Swap Counterparty and any Cap Payments received from 
the Cap Counterparty, minus (b) the sum of the total interest due on the        
Certificates and the any Net Swap Payments owed to the Swap Counterparty,       
divided by (y) the aggregate principal balance of the Certificates as of the    
first day of the applicable accrual period. Other assumptions include: (1)      
prepayment speed is 20% HEP for the fixed rate mortgage loans and 100% PPC for  
the adjustable rate mortgage loans, (2) no defaults and no losses:              

                                                                [Download Table]

           EXCESS SPREAD    EXCESS SPREAD 
              IN BPS            IN BPS    
PERIOD    (STATIC LIBOR)   (FORWARD LIBOR)
-------   --------------   ---------------
                                          
Avg yr1         287              287      
Avg yr2         302              302      
Avg yr3         468              465      
Avg yr4         490              490      
Avg yr5         479              480      

                                                        [Enlarge/Download Table]

         Excess                     Excess            Excess                     Excess 
         Spread                     Spread            Spread                     Spread 
         in bps  1 Month  6 Month   in bps            in bps  1 Month  6 Month   in bps 
        (Static  Forward  Forward  (Forward          (Static  Forward  Forward  (Forward
PERIOD   LIBOR)   LIBOR    LIBOR     LIBOR)  PERIOD   LIBOR)   LIBOR    LIBOR    LIBOR) 
------  -------  -------  -------  --------  ------  -------  -------  -------  --------
                                                                                        
   1        *    5.3210%  5.3880%       *      42      494    5.3390%  5.4180%     495  
   2      283    5.3290%  5.3850%     282      43      482    5.3470%  5.4240%     482  
   3      283    5.3530%  5.3810%     279      44      481    5.3540%  5.4290%     481  
   4      301    5.3320%  5.3700%     300      45      519    5.3610%  5.4330%     519  
   5      283    5.3200%  5.3610%     283      46      480    5.3660%  5.4370%     479  
   6      302    5.3110%  5.3490%     303      47      492    5.3710%  5.4400%     491  
   7      284    5.3060%  5.3350%     284      48      478    5.3750%  5.4440%     479  
   8      284    5.3020%  5.3190%     284      49      490    5.3780%  5.4470%     490  
   9      285    5.2920%  5.3020%     285      50      477    5.3800%  5.4500%     477  
  10      285    5.2730%  5.2840%     284      51      476    5.3830%  5.4540%     476  
  11      285    5.2500%  5.2690%     285      52      487    5.3860%  5.4580%     487  
  12      286    5.2290%  5.2580%     286      53      474    5.3900%  5.4630%     474  
  13      287    5.2130%  5.2500%     287      54      486    5.3940%  5.4680%     487  
  14      287    5.2010%  5.2450%     287      55      473    5.3980%  5.4730%     474  
  15      288    5.1910%  5.2420%     288      56      472    5.4030%  5.4790%     472  
  16      289    5.1850%  5.2420%     289      57      496    5.4080%  5.4850%     496  
  17      289    5.1820%  5.2440%     289      58      470    5.4130%  5.4920%     470  
  18      290    5.1820%  5.2480%     290      59      482    5.4190%  5.4980%     481  
  19      290    5.1840%  5.2520%     290      60      471    5.4250%  5.5050%     472  
  20      291    5.1880%  5.2560%     291      61      490    5.4320%  5.5110%     487  
  21      294    5.1920%  5.2600%     294      62      470    5.4390%  5.5170%     466  
  22      293    5.1960%  5.2640%     292      63      469    5.4450%  5.5230%     464  
  23      296    5.2010%  5.2680%     297      64      487    5.4520%  5.5280%     482  
  24      433    5.2050%  5.2730%     428      65      467    5.4570%  5.5330%     461  
  25      457    5.2080%  5.2780%     452      66      485    5.4630%  5.5370%     481  
  26      453    5.2120%  5.2840%     449      67      465    5.4680%  5.5410%     460  
  27      456    5.2170%  5.2900%     452      68      464    5.4720%  5.5450%     459  
  28      465    5.2220%  5.2960%     461      69      520    5.4760%  5.5470%     516  
  29      459    5.2280%  5.3040%     455      70      462    5.4800%  5.5500%     456  
  30      468    5.2340%  5.3120%     466      71      480    5.4830%  5.5520%     474  
  31      461    5.2410%  5.3200%     459      72      461    5.4850%  5.5550%     455  
  32      463    5.2480%  5.3290%     461      73      479    5.4870%  5.5570%     473  
  33      490    5.2560%  5.3390%     487      74      459    5.4890%  5.5600%     452  
  34      466    5.2650%  5.3480%     464      75      458    5.4920%  5.5620%     451  
  35      477    5.2740%  5.3580%     474      76      476    5.4940%  5.5650%     470  
  36      499    5.2840%  5.3680%     499      77      456    5.4960%  5.5690%     449  
  37      516    5.2930%  5.3770%     516      78      474    5.4990%  5.5720%     468  
  38      479    5.3030%  5.3860%     478      79      ***    5.5020%  5.5760%     ***  
  39      482    5.3130%  5.3950%     481      80      ***    5.5060%  5.5800%     ***  
  40      494    5.3220%  5.4030%     492      81      ***    5.5090%  5.5840%     ***  
  41      482    5.3310%  5.4110%     480      82      ***    5.5130%  5.5890%     ***  

 RECIPIENTS SHOULD READ THE INFORMATION CONTAINED IN THE IMPORTANT NOTICES
 SECTION FOLLOWING THE COVER PAGE OF THIS FREE WRITING PROSPECTUS.

                                                                              43

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AGGREGATE MORTGAGE LOAN CHARACTERISTICS                                         

                                                                [Download Table]
                                                        
Aggregate Outstanding Principal Balance   $1,682,285,442
Aggregate Original Principal Balance      $1,682,370,130
Number of Mortgage Loans                           7,936

                                                                [Download Table]

                                MINIMUM     MAXIMUM    AVERAGE (1)
                                -------   ----------   -----------
                                                                  
Original Principal Balance      $33,500   $1,300,000     $211,992 
Outstanding Principal Balance   $33,399   $1,300,000     $211,982 

                                                                [Download Table]

                                MINIMUM     MAXIMUM    WEIGHTED AVERAGE (2)
                                -------   ----------   --------------------
                                                                           
Original Term (mos)                180         360               359       
Stated remaining Term (mos)        179         360               359       
Loan Age (mos)                       0           8                 1       
Current Interest Rate            5.350%     13.400%            8.785%      
Initial Interest Rate Cap(4)     1.000%      3.000%            2.990%      
Periodic Rate Cap(4)             1.000%      1.000%            1.000%      
Gross Margin(4)                  2.750%      6.750%            5.731%      
Maximum Mortgage Rate(4)        11.350%     19.050%           14.734%      
Minimum Mortgage Rate(4)         5.350%     13.050%            8.734%      
Months to Roll(4)                    5          60                26       
Original Loan-to-Value           15.06%     100.00%            85.30%      
Combined Loan-to-Value           15.06%     100.00%            89.90%      
Credit Score (3)                   540         809               640       

                                                                [Download Table]

                                 EARLIEST      LATEST  
                                ----------   ----------
                                                       
Maturity Date                   05/01/2022   06/01/2037

                                                                [Download Table]

                                 PERCENT OF  
                                MORTGAGE POOL
                                -------------
                                             
LIEN POSITION                                
1st Lien                           100.00%   
2nd Lien                             0.00%   

OCCUPANCY                                    
Primary                             95.17%   
Second Home                          0.62%   
Investment                           4.20%   

LOAN TYPE                                    
Fixed Rate                          16.84%   
ARM                                 83.16%   

AMORTIZATION TYPE                            
Fully Amortizing                    34.51%   
Interest Only                        4.41%   
15/30 Balloon                        0.01%   
30/40 Balloon                       15.11%   
30/50 Balloon                       45.96%   

                                                                [Download Table]

                                  PERCENT OF 
                                MORTGAGE POOL
                                -------------
                                             
YEAR OF ORIGINATION                          
2006                                 1.44%   
2007                                98.56%   

LOAN PURPOSE                                 
Purchase                            48.37%   
Refinance - Rate/Term                7.40%   
Refinance - Cashout                 44.23%   

PROPERTY TYPE                                
Single Family                       70.43%   
Condominium                          4.72%   
Planned Unit Development            18.28%   
Two- to Four-Family                  6.57%   

(1)  Sum of Principal Balance divided by total number of loans.                 

(2)  Weighted by Outstanding Principal Balance.                                 

(3)  Minimum and Weighting only for loans with scores.                          

(4)  ARM Loans only                                                             

FWP 45th Page of 79 TOC 1st Previous Next ↓Bottom Just 45th
MORTGAGE RATES                                                                  

                                                        [Enlarge/Download Table]

                                AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF        BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF            MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MORTGAGE RATES        LOANS        ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
--------------      --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                              
5.500% or less             1        823,138        0.05     5.350       702      823,138     62.26     52.00   100.00     0.00
5.501% to 6.000%           8      1,762,176        0.10     5.969       716      220,272     59.01     44.24    95.19    14.11
6.001% to 6.500%          68     19,726,485        1.17     6.369       698      290,095     73.61     40.34    80.07    23.45
6.501% to 7.000%         224     61,333,642        3.65     6.822       685      273,811     76.69     42.33    71.70     8.30
7.001% to 7.500%         440    117,806,062        7.00     7.322       671      267,741     78.94     43.86    73.26     9.16
7.501% to 8.000%         978    248,017,219       14.74     7.813       659      253,596     82.22     44.03    70.22     5.59
8.001% to 8.500%       1,101    264,816,170       15.74     8.294       646      240,523     83.52     44.61    69.06     4.29
8.501% to 9.000%       1,453    310,894,999       18.48     8.778       636      213,968     85.68     43.53    71.37     2.73
9.001% to 9.500%       1,209    239,275,272       14.22     9.291       626      197,912     86.72     43.90    74.31     3.81
9.501% to 10.000%      1,240    227,514,138       13.52     9.765       619      183,479     89.16     44.02    72.80     2.99
10.001% to 10.500%       543     90,927,261        5.40    10.274       613      167,454     91.03     42.70    77.65     0.98
10.501% to 11.000%       315     48,134,803        2.86    10.752       621      152,809     92.24     41.65    78.62     4.81
11.001% to 11.500%       167     23,979,026        1.43    11.266       618      143,587     95.75     42.12    82.99     1.11
11.501% to 12.000%       126     17,340,086        1.03    11.773       629      137,620     98.30     46.00    82.11     1.60
12.001% to 12.500%        43      6,559,825        0.39    12.310       628      152,554     99.51     44.68    69.92     2.06
12.501% to 13.000%        16      3,054,740        0.18    12.709       629      190,921     99.51     46.19    88.36     0.00
13.001% to 13.500%         4        320,400        0.02    13.209       628       80,100    100.00     43.26    75.50     0.00
                       -----  -------------      ------    ------       ---      -------    ------     -----   ------    -----
TOTAL:                 7,936  1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                       =====  =============      ======    ======       ===      =======    ======     =====   ======    =====

As of the Cut-off Date, Mortgage Rates borne by the Mortgage Loans ranged from  
5.350% per annum to 13.400% per annum and the weighted average Mortgage Rate of 
the Mortgage Loans was approximately 8.785% per annum.                          

REMAINING MONTHS TO STATED MATURITY                                             

                                                        [Enlarge/Download Table]

                             AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
RANGE OF            OF        BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
REMAINING TERMS  MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
(MONTHS)           LOANS        ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
---------------  --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                           
169 to 180             57      6,046,458        0.36     8.262       651      106,078     74.99     37.62    72.39     8.35
229 to 240              2        252,890        0.02     8.647       660      126,445     89.81     35.85    69.20     0.00
349 to 360          7,877  1,675,986,094       99.63     8.787       640      212,770     85.34     43.78    72.58     4.40
                    -----  -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:              7,936  1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                    =====  =============      ======     =====       ===      =======     =====     =====    =====     ====

As of the Cut-off Date, the remaining term to stated maturity of the Mortgage   
Loans ranged from 179 months to 360 months and the weighted average term to     
stated maturity of the Mortgage Loans was approximately 359 months.             

FWP 46th Page of 79 TOC 1st Previous Next ↓Bottom Just 46th
ORIGINAL MORTGAGE LOAN PRINCIPAL BALANCES                                       

                                                        [Enlarge/Download Table]

                                     AGGREGATE                                      AVERAGE              WEIGHTED                  
                          NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
RANGE OF ORIGINAL           OF        BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
MORTGAGE                 MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN PRINCIPAL BALANCES    LOANS        ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
-----------------------  --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                   
$50,000 or less                52      2,529,779        0.15    10.025       621       48,650     74.76     36.72    96.05     0.00
$50,001 to $100,000         1,566    121,923,474        7.25     9.525       624       77,857     85.31     39.77    88.51     0.94
$100,001 to $150,000        1,766    221,283,818       13.15     9.032       628      125,302     84.91     42.41    84.47     2.05
$150,001 to $200,000        1,450    252,362,441       15.00     8.793       633      174,043     84.25     43.44    76.95     3.53
$200,001 to $250,000          917    205,937,406       12.24     8.751       637      224,577     85.41     44.50    73.20     3.44
$250,001 to $300,000          628    172,077,841       10.23     8.763       638      274,009     85.96     44.58    70.61     5.51
$300,001 to $350,000          425    138,154,625        8.21     8.646       641      325,070     86.13     44.91    67.52     3.08
$350,001 to $400,000          307    115,169,358        6.85     8.643       645      375,144     85.80     45.61    62.22     2.58
$400,001 to $450,000          220     93,671,596        5.57     8.598       645      425,780     85.59     45.82    61.66     4.07
$450,001 to $500,000          184     87,488,026        5.20     8.738       652      475,478     86.51     45.02    55.33     6.04
$500,001 to $550,000          118     61,929,327        3.68     8.588       651      524,825     86.91     44.90    61.85     7.76
$550,001 to $600,000          107     61,585,445        3.66     8.671       654      575,565     86.71     44.30    58.93     9.23
$600,001 to $650,000           61     38,197,490        2.27     8.724       656      626,188     87.31     45.64    57.38     4.92
$650,001 to $700,000           43     28,998,163        1.72     8.599       662      674,376     84.50     40.84    74.38     9.23
$700,001 to $750,000           21     15,213,040        0.90     8.307       667      724,430     84.15     43.62    76.18     9.31
$750,001 to $800,000           15     11,618,554        0.69     8.446       665      774,570     83.36     47.46    93.34     6.89
$800,001 to $850,000           14     11,604,808        0.69     8.105       668      828,915     79.93     39.97    85.48    14.06
$850,001 to $900,000            7      6,142,500        0.37     8.742       653      877,500     81.35     36.02    71.88    43.01
$900,001 to $950,000            7      6,481,990        0.39     8.205       666      925,999     82.85     43.18    71.61    42.84
$950,001 to $1,000,000         13     12,770,750        0.76     7.882       681      982,365     81.83     40.11    92.17     0.00
$1,000,001 or greater          15     17,145,012        1.02     7.621       696    1,143,001     78.44     39.06    87.33    14.46
                            -----  -------------      ------    ------       ---    ---------     -----     -----    -----    -----
TOTAL:                      7,936  1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                            =====  =============      ======    ======       ===    =========     =====     =====    =====    =====

As of the Cut-off Date, the outstanding principal balances of the Mortgage Loans
ranged from approximately $33,399 to approximately $1,300,000 and the average   
outstanding principal balance of the Mortgage Loans was approximately $211,982. 

PRODUCT TYPES                                                                   

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                        NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                          OF        BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                       MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PRODUCT TYPES            LOANS        ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
-------------          --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
Balloon - 30/50             301     57,778,932        3.43     9.083       626      191,957     84.16     44.98    66.34     0.00
ARM - 1 Year/6 Month         23      4,602,173        0.27     8.894       658      200,094     85.51     37.88    86.76     0.00
ARM - 2 Year/6 Month                                                                                                             
   (50 due in 30)         2,035    572,690,521       34.04     8.620       648      281,420     85.21     45.65    72.51     0.00
ARM - 3 Year/6 Month                                                                                                             
   (50 due in 30)           448    131,421,303        7.81     8.193       650      293,351     84.15     45.74    67.60     0.00
ARM - 5 Year/6 Month                                                                                                             
   (50 due in 30)            38     11,343,366        0.67     8.322       652      298,510     81.20     42.04    75.54     0.00
15 Year Fixed Loans          56      5,910,458        0.35     8.180       652      105,544     74.41     37.47    71.76     6.24
15/30 Balloon Loans           1        136,000        0.01    11.800       627      136,000    100.00     44.00   100.00   100.00
20 Year Fixed Loans           2        252,890        0.02     8.647       660      126,445     89.81     35.85    69.20     0.00
2/28 LIBOR Loans          2,015    364,065,053       21.64     8.992       633      180,677     86.52     41.67    75.47    10.72
2/28 LIBOR Loans                                                                                                                 
   (40 due in 30)           809    183,681,375       10.92     9.020       627      227,047     86.46     44.68    69.69     0.00
30 Year Fixed Loans       1,381    188,144,362       11.18     9.045       638      136,238     83.59     40.38    77.40     7.70
30/40 Balloon Loans         181     31,119,387        1.85     9.067       630      171,930     84.26     44.81    76.98     0.00
3/27 LIBOR Loans            413     78,439,571        4.66     8.661       643      189,926     85.05     41.59    71.10    20.54
3/27 LIBOR Loans                                                                                                                 
   (40 due in 30)           150     35,223,269        2.09     8.748       641      234,822     87.99     44.21    54.44     0.00
5/25 LIBOR Loans             42      8,689,738        0.52     8.674       659      206,899     85.24     45.28    76.43    33.77
5/25 LIBOR Loans                                                                                                                 
   (40 due in 30)            20      4,168,676        0.25     8.798       646      208,434     89.56     42.75    81.16     0.00
Six Month LIBOR Loans        21      4,618,368        0.27     8.607       642      219,922     81.36     45.56    90.87    25.65
                          -----  -------------      ------     -----       ---      -------    ------     -----   ------   ------
TOTAL:                    7,936  1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                          =====  =============      ======     =====       ===      =======    ======     =====   ======   ======

FWP 47th Page of 79 TOC 1st Previous Next ↓Bottom Just 47th
AMORTIZATION TYPE                                                               

                                                        [Enlarge/Download Table]

                                      AGGREGATE                                      AVERAGE              WEIGHTED                  
                          NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                            OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                         MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
AMORTIZATION TYPE          LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
-----------------        --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                    
Fully Amortizing            3,708     580,591,042       34.51     9.041       632      156,578     85.64     41.37    76.09     0.00
Balloon                     3,983   1,027,562,829       61.08     8.679       642      257,987     85.28     45.32    70.62     0.01
60 Month Interest-Only        235      71,196,731        4.23     8.270       669      302,965     82.86     40.43    72.68   100.00
120 Month Interest-Only        10       2,934,840        0.17     7.995       684      293,484     84.47     46.95    63.63   100.00
                            -----   -------------      ------     -----       ---      -------     -----     -----    -----   ------
TOTAL:                      7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                            =====   =============      ======     =====       ===      =======     =====     =====    =====   ======

FWP 48th Page of 79 TOC 1st Previous Next ↓Bottom Just 48th
ADJUSTMENT TYPE                                                                 

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                    OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                 MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
ADJUSTMENT TYPE    LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
ARM                 6,014   1,398,943,413       83.16     8.734       641      232,614     85.64     44.16    72.10     4.24
Fixed Rate          1,922     283,342,029       16.84     9.038       635      147,420     83.60     41.74    74.99     5.29
                    -----   -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:              7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                    =====   =============      ======     =====       ===      =======     =====     =====    =====     ====

STATE DISTRIBUTIONS OF MORTGAGED PROPERTIES                                     

                                                        [Enlarge/Download Table]

                                      AGGREGATE                                      AVERAGE              WEIGHTED                  
                          NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                            OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                         MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
GEOGRAPHIC DISTRIBUTION    LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
-----------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                    
Alabama                        78       9,045,487        0.54     9.413      635       115,968     88.14     42.89    82.71     5.06
Arizona                       238      48,540,282        2.89     8.666      642       203,951     85.00     44.40    74.87     4.29
Arkansas                       27       3,254,013        0.19     8.982      623       120,519     84.26     39.49    97.02     0.00
California                    743     292,797,503       17.40     8.117      657       394,075     82.49     45.36    67.40     6.83
Colorado                      142      33,927,703        2.02     8.934      641       238,927     86.30     44.03    83.62     0.94
Connecticut                    57      12,629,614        0.75     9.004      625       221,572     86.52     44.18    72.22     8.38
Delaware                        9       2,693,539        0.16     8.772      636       299,282     84.93     43.58    82.13     9.82
District of Columbia            4       1,354,050        0.08     8.903      621       338,513     83.67     42.74   100.00     0.00
Florida                       795     178,457,315       10.61     8.584      643       224,475     84.17     42.68    65.85     3.14
Georgia                       275      48,355,815        2.87     9.403      636       175,839     87.65     43.38    83.10     4.65
Idaho                          48       9,644,884        0.57     9.059      631       200,935     88.73     44.52    82.12     0.00
Illinois                      540     118,067,557        7.02     9.114      631       218,644     86.73     44.28    58.39     2.85
Indiana                       258      27,356,725        1.63     9.270      616       106,034     88.24     41.78    82.61     3.77
Iowa                           30       3,063,414        0.18     9.578      613       102,114     89.87     39.96    90.65     0.00
Kansas                         30       3,286,222        0.20     9.846      618       109,541     88.69     42.96    95.78     0.00
Kentucky                       78       9,435,795        0.56     9.247      622       120,972     88.69     40.27    83.63     2.33
Louisiana                      44       5,612,921        0.33     9.429      623       127,566     88.77     40.69    93.64     0.00
Maine                          22       4,045,415        0.24     9.652      642       183,883     89.03     44.14    78.57     7.28
Maryland                      153      48,690,741        2.89     8.952      640       318,240     85.85     46.34    77.46     3.08
Massachusetts                 113      32,869,422        1.95     9.092      635       290,880     83.67     45.01    72.26     4.16
Michigan                      287      37,599,466        2.24     9.444      629       131,009     88.66     41.00    81.24     5.29
Minnesota                     142      26,751,979        1.59     8.703      636       188,394     86.48     44.73    77.83     8.27
Mississippi                    45       5,812,329        0.35     9.323      628       129,163     87.78     44.04    90.63     0.00
Missouri                      142      19,038,614        1.13     9.279      619       134,075     87.41     41.92    83.04     4.16
Montana                         7       1,018,925        0.06     8.388      623       145,561     86.49     45.99    92.05     0.00
Nebraska                       19       2,421,775        0.14     9.719      630       127,462     91.48     43.00    87.42     0.00
Nevada                        118      33,294,357        1.98     8.557      650       282,156     83.25     46.29    82.29     3.95
New Hampshire                  15       3,058,844        0.18     9.271      630       203,923     86.75     47.00    92.79     0.00
New Jersey                    173      50,943,710        3.03     8.983      632       294,472     86.35     45.58    53.36     3.57
New Mexico                     38       6,808,735        0.40     9.398      628       179,177     87.00     43.53    89.25     5.95
New York                      393     111,320,340        6.62     8.745      647       283,258     85.79     44.55    51.10     6.67
North Carolina                256      39,840,071        2.37     9.339      635       155,625     86.94     41.58    87.27     3.80
North Dakota                    2         240,150        0.01    10.255      641       120,075     98.12     41.62    62.42     0.00
Ohio                          311      38,398,939        2.28     9.185      625       123,469     87.12     41.56    83.98     4.36
Oklahoma                       42       4,153,785        0.25     9.779      630        98,900     88.95     39.86   100.00     0.00
Oregon                        185      41,553,825        2.47     8.480      646       224,615     85.13     42.86    80.53     8.31
Pennsylvania                  212      28,848,196        1.71     9.087      626       136,076     87.08     42.75    77.55     3.20
Rhode Island                   44      12,065,163        0.72     9.027      645       274,208     85.16     45.14    69.29     2.32
South Carolina                 79      10,949,913        0.65     9.666      619       138,606     87.12     41.49    87.85     1.22
South Dakota                    7       1,163,055        0.07     9.847      628       166,151     92.32     42.08    84.08     0.00
Tennessee                     234      33,313,233        1.98     9.011      627       142,364     86.37     44.58    83.26     3.93
Texas                         569      81,077,364        4.82     9.104      637       142,491     85.57     42.40    85.55     2.95
Utah                          287      58,843,517        3.50     8.567      641       205,030     84.30     41.50    82.37     4.33
Vermont                         9       1,191,520        0.07     8.365      624       132,391     83.94     46.49   100.00    25.85
Virginia                       72      17,143,597        1.02     8.578      635       238,106     85.10     44.91    57.45     0.00
Washington                    328      85,137,428        5.06     8.508      644       259,565     84.34     42.86    75.84     3.95
West Virginia                  14       2,322,340        0.14     9.863      629       165,881     90.68     43.57    89.77     0.00
Wisconsin                     206      31,909,263        1.90     9.236      627       154,899     87.38     42.50    83.39     1.24
Wyoming                        16       2,936,595        0.17     9.144      625       183,537     88.38     46.57   100.00     7.49
                            -----   -------------      ------    ------      ---       -------     -----     -----   ------    -----
TOTAL:                      7,936   1,682,285,442      100.00     8.785      640       211,982     85.30     43.76    72.58     4.41
                            =====   =============      ======    ======      ===       =======     =====     =====   ======    =====

No more than approximately 0.22% of the Mortgage Loans will be secured by       
mortgaged properties located in any one zip code.                               

ORIGINAL LOAN-TO-VALUE RATIOS                                                   

FWP 49th Page of 79 TOC 1st Previous Next ↓Bottom Just 49th
                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF ORIGINAL     MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN-TO-VALUE RATIOS    LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
--------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
50.00% or less              92      12,284,286        0.73     8.034      630       133,525     40.69     37.98    61.23     1.34
50.01% to 55.00%            42       7,527,816        0.45     7.703      625       179,234     53.23     40.49    54.16     2.99
55.01% to 60.00%            74      13,295,994        0.79     7.910      627       179,676     57.71     40.46    55.42     4.16
60.01% to 65.00%           135      24,407,681        1.45     7.824      627       180,798     63.01     41.39    67.22     3.44
65.01% to 70.00%           164      32,857,425        1.95     7.957      622       200,350     68.52     40.87    64.22     7.87
70.01% to 75.00%           241      52,760,089        3.14     8.131      625       218,922     73.81     40.91    61.43     5.46
75.01% to 80.00%         2,583     586,298,793       34.85     8.340      654       226,984     79.81     44.14    84.24     6.67
80.01% to 85.00%           773     146,031,509        8.68     8.770      608       188,915     84.43     42.98    68.16     2.35
85.01% to 90.00%         1,776     377,565,941       22.44     8.807      629       212,593     89.70     43.64    62.32     3.71
90.01% to 95.00%         1,585     344,556,168       20.48     9.367      644       217,386     94.89     44.49    67.24     2.51
95.01% to 100.00%          471      84,699,740        5.03    10.784      657       179,830     99.96     45.21    84.73     2.11
                         -----   -------------      ------    ------      ---       -------     -----     -----    -----     ----
TOTAL:                   7,936   1,682,285,442      100.00     8.785      640       211,982     85.30     43.76    72.58     4.41
                         =====   =============      ======    ======      ===       =======     =====     =====    =====     ====

As of the Cut-off Date, the Original Loan-to-Value Ratios of the Mortgage Loans 
ranged from 15.06% to 100.00%.                                                  

FWP 50th Page of 79 TOC 1st Previous Next ↓Bottom Just 50th
COMBINED LOAN-TO-VALUE RATIOS                                                   

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF COMBINED     MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN-TO-VALUE RATIOS    LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
--------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
50.00% or less              92      12,284,286        0.73     8.034       630      133,525     40.69     37.98    61.23     1.34
50.01% to 55.00%            42       7,527,816        0.45     7.703       625      179,234     53.23     40.49    54.16     2.99
55.01% to 60.00%            73      13,162,894        0.78     7.900       627      180,314     57.72     40.55    54.97     4.20
60.01% to 65.00%           133      24,164,496        1.44     7.825       627      181,688     63.00     41.42    66.89     3.48
65.01% to 70.00%           163      32,357,425        1.92     7.932       622      198,512     68.52     40.75    63.67     7.99
70.01% to 75.00%           235      48,923,839        2.91     8.146       623      208,187     73.77     41.24    58.41     4.10
75.01% to 80.00%           953     194,913,061       11.59     8.116       631      204,526     79.47     41.39    59.99     6.84
80.01% to 85.00%           775     147,146,509        8.75     8.758       608      189,866     84.37     42.88    68.40     2.34
85.01% to 90.00%         1,806     387,496,779       23.03     8.769       630      214,561     89.40     43.65    63.28     4.09
90.01% to 95.00%         1,636     362,881,485       21.57     9.316       645      221,810     94.11     44.24    68.47     3.16
95.01% to 100.00%        2,028     451,426,851       26.83     8.917       665      222,597     83.72     45.68    94.29     5.28
                         -----   -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                   7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                         =====   =============      ======     =====       ===      =======     =====     =====    =====     ====

As of the Cut-off Date, the Combined Loan-to-Value Ratios of the Mortgage Loans 
ranged from 15.06% to 100.00% and the weighted average Combined Loan-to-Value   
Ratio for Mortgage Loans was approximately 89.90%. . This table was calculated  
using the Combined Loan-to-Value Ratio for Mortgage Loans that are in a second  
lien position and for Mortgage Loans that are in a first lien position with     
subordinate financing. Approximately 23.56% of the Mortgage Loans are in a first
lien position with subordinate financing and the weighted average Combined      
Loan-to-Value Ratio for such Mortgage Loans was approximately 99.40%.           

DEBT-TO-INCOME RATIOS                                                           

                                                        [Enlarge/Download Table]

                                AGGREGATE                                      AVERAGE              WEIGHTED                  
                    NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                      OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF DEBT-TO-  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
INCOME RATIOS        LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
-----------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                              
20.00% or less          261      50,138,823        2.98     8.706       645      192,103     83.77     14.11    89.90    17.57
20.01% to 25.00%        257      46,345,733        2.75     8.753       639      180,334     82.48     23.34    85.69     3.08
25.01% to 30.00%        469      78,189,303        4.65     8.734       635      166,715     84.00     28.12    81.40     5.48
30.01% to 35.00%        705     129,665,924        7.71     8.783       640      183,923     84.12     33.16    74.25     2.70
35.01% to 40.00%      1,019     200,742,266       11.93     8.797       637      196,999     84.56     38.20    68.57     5.38
40.01% to 45.00%      1,396     292,636,975       17.40     8.849       638      209,625     85.54     43.19    64.49     3.80
45.01% to 50.00%      1,892     436,407,251       25.94     8.853       639      230,659     86.03     48.22    66.67     4.29
50.01% to 55.00%      1,933     447,253,017       26.59     8.696       645      231,378     85.81     53.48    80.07     3.49
55.01% to 60.00%          4         906,150        0.05     7.700       647      226,538     76.05     58.00   100.00     0.00
                      -----   -------------      ------     -----       ---      -------     -----     -----   ------    -----
TOTAL:                7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                      =====   =============      ======     =====       ===      =======     =====     =====   ======    =====

As of the Cut-off Date, the Debt-to-Income Ratios of the Mortgage Loans ranged  
from 1.00% to 59.00% and the weighted average Debt-to-Income Ratio for Mortgage 
Loans with Debt-to-Income Ratios was approximately 43.76%.                      

FWP 51st Page of 79 TOC 1st Previous Next ↓Bottom Just 51st
LOAN PURPOSE                                                                    

                                                        [Enlarge/Download Table]

                                    AGGREGATE                                      AVERAGE              WEIGHTED                  
                        NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                          OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                       MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN PURPOSE             LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
------------           --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                  
Purchase                  3,901     813,748,665       48.37     8.943       653      208,600     86.55     43.87    89.61     5.36
Refinance - Cashout       3,397     744,072,359       44.23     8.653       627      219,038     84.14     43.80    54.64     3.15
Refinance - Rate Term       638     124,464,418        7.40     8.543       635      195,085     84.07     42.72    68.55     5.79
                          -----   -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                    7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                          =====   =============      ======     =====       ===      =======     =====     =====    =====     ====

PROPERTY TYPE                                                                   

                                                        [Enlarge/Download Table]

                                      AGGREGATE                                      AVERAGE              WEIGHTED                  
                          NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                            OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                         MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PROPERTY TYPE              LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------            --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                    
Single Family               5,981   1,184,797,677       70.43     8.821       637      198,094     85.43     43.65    71.79     3.86
Planned Unit Development    1,177     307,537,863       18.28     8.719       646      261,290     85.21     43.82    80.46     5.83
Two- to Four-Family           401     110,472,434        6.57     8.604       651      275,492     84.39     44.98    58.80     4.38
Condominium                   377      79,477,467        4.72     8.764       656      210,816     84.96     43.44    73.10     7.29
                            -----   -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                      7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                            =====   =============      ======     =====       ===      =======     =====     =====    =====     ====

DOCUMENTATION                                                                   

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                    MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
DOCUMENTATION         LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------       --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
Full Documentation     6,171   1,221,065,970       72.58     8.811       639      197,872     85.15     43.54   100.00     4.40
Rapid                  1,353     356,671,986       21.20     8.583       638      263,616     85.86     44.78     0.00     3.27
Stated Income            302      76,159,461        4.53     9.338       662      252,184     84.52     42.13     0.00    10.86
Limited Income                                                                                                                 
   Verifictation          85      20,353,535        1.21     8.534       649      239,453     85.31     44.52     0.00     2.86
Stated Plus               12       5,001,367        0.30     8.942       671      416,781     88.67     42.84     0.00     0.00
Blended                   13       3,033,125        0.18     9.776       660      233,317     95.15     46.65     0.00     0.00
                       -----   -------------      ------     -----       ---      -------     -----     -----   ------    -----
TOTAL:                 7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                       =====   =============      ======     =====       ===      =======     =====     =====   ======    =====

FWP 52nd Page of 79 TOC 1st Previous Next ↓Bottom Just 52nd
OCCUPANCY                                                                       

                                                        [Enlarge/Download Table]

                          AGGREGATE                                      AVERAGE              WEIGHTED                  
              NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
             MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
OCCUPANCY      LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
---------    --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                        
Primary         7,434   1,601,063,076       95.17     8.801       638      215,370     85.37     43.88    71.80     4.16
Investment        458      70,721,637        4.20     8.431       681      154,414     83.37     41.57    88.10    10.93
Second Home        44      10,500,730        0.62     8.856       665      238,653     88.02     39.77    88.23     0.00
                -----   -------------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:          7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                =====   =============      ======     =====       ===      =======     =====     =====    =====    =====

The information set forth above with respect to occupancy is based upon         
representations of the related mortgagors at the time of origination.           

MORTGAGE LOANS AGE SUMMARY                                                      

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
MORTGAGE LOANS AGE  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
(MONTHS)              LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
0                      3,732     797,630,242       47.41     8.822       642      213,727     85.71     43.87    70.35     3.97
1                      4,085     849,424,081       50.49     8.791       638      207,937     85.08     43.69    74.98     3.67
2                          5       1,906,495        0.11     7.976       599      381,299     77.92     49.17    81.64     0.00
3                         14       2,480,469        0.15     8.374       649      177,176     83.87     46.64    47.73    10.36
4                         15       6,592,498        0.39     7.945       637      439,500     81.52     42.56    67.23    23.59
5                         53      15,513,591        0.92     7.472       668      292,709     80.97     39.65    75.20    43.28
6                         12       2,593,475        0.15     7.870       651      216,123     79.01     47.62    56.17    55.71
7                         19       5,943,609        0.35     8.227       652      312,822     83.98     45.26    46.33    24.14
8                          1         200,982        0.01     7.750       609      200,982     30.61     37.00     0.00     0.00
                       -----   -------------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:                 7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                       =====   =============      ======     =====       ===      =======     =====     =====    =====    =====

As of the Cut-off Date, the weighted average age of the Mortgage Loans was      
approximately 1 months.                                                         

ORIGINAL PREPAYMENT PENALTY TERM                                                

                                                        [Enlarge/Download Table]

                                  AGGREGATE                                      AVERAGE              WEIGHTED                  
                      NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                        OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
ORIGINAL PREPAYMENT  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PENALTY TERM           LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                
None                    2,335     518,145,048       30.80     9.096       639      221,904     85.67     43.59    70.86     5.16
12 Months                 477     123,199,195        7.32     8.978       646      258,279     85.45     44.19    65.49     7.15
24 Months               3,158     684,265,393       40.67     8.636       640      216,677     85.46     44.07    75.85     3.07
36 Months               1,966     356,675,806       21.20     8.554       641      181,422     84.40     43.25    71.27     4.96
                        -----   -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                  7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                        =====   =============      ======     =====       ===      =======     =====     =====    =====     ====

The weighted average prepayment penalty term at origination with respect to the 
Mortgage Loans having prepayment penalties is approximately 26 months.          

FWP 53rd Page of 79 TOC 1st Previous Next ↓Bottom Just 53rd
CREDIT SCORES                                                                   

                                                        [Enlarge/Download Table]

                            AGGREGATE                                      AVERAGE              WEIGHTED                  
                NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                  OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF       MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
CREDIT SCORES    LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                          
526 to 550          196      29,905,931        1.78     9.509       545      152,581     77.72     42.56    86.39     1.73
551 to 575          618      99,894,316        5.94     9.401       564      161,641     82.46     42.35    80.92     1.75
576 to 600          998     173,355,013       10.30     9.384       589      173,702     86.25     42.51    77.58     1.13
601 to 625        1,705     345,966,223       20.57     9.009       614      202,913     85.94     44.05    71.74     2.52
626 to 650        1,786     378,900,645       22.52     8.986       638      212,150     86.08     44.41    70.39     2.49
651 to 675        1,369     328,168,189       19.51     8.503       662      239,714     85.25     44.14    68.87     6.17
676 to 700          696     173,024,094       10.29     8.112       686      248,598     84.71     42.85    71.23     9.72
701 to 725          304      82,864,932        4.93     7.957       711      272,582     85.47     45.39    73.54     7.17
726 to 750          133      35,350,468        2.10     7.858       737      265,793     84.74     43.87    78.02    12.61
751 to 775           85      22,833,366        1.36     7.933       762      268,628     83.46     42.51    83.30    18.72
776 to 800           39      10,779,416        0.64     7.962       784      276,395     85.29     42.06    66.56     0.00
801 to 809            7       1,242,850        0.07     7.745       806      177,550     80.50     29.00    84.49    13.76
                  -----   -------------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:            7,936   1,682,285,442      100.00     8.785       640      211,982     85.30     43.76    72.58     4.41
                  =====   =============      ======     =====       ===      =======     =====     =====    =====    =====

The Credit Scores of the Mortgage Loans that were scored as of the Cut-off Date 
ranged from 540 to 809 and the weighted average Credit Score of the Mortgage    
Loans that were scored as of the Cut-off Date was approximately 640.            

CREDIT GRADE                                                                    

                                                        [Enlarge/Download Table]

                     AGGREGATE                                      AVERAGE              WEIGHTED                  
         NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
           OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
CREDIT  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
GRADE     LOANS         ($)        POOL (%)      (%)      SCORE       ($)      LTV (%)      (%)    DOC (%)   IO (%)
------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                   
0                                                                                                                  

FWP 54th Page of 79 TOC 1st Previous Next ↓Bottom Just 54th
GROSS MARGIN                                                                    
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                               AGGREGATE                                        AVERAGE              WEIGHTED                  
                   NUMBER      PRINCIPAL                WEIGHTED   WEIGHTED    PRINCIPAL   WEIGHTED   AVERAGE                  
                     OF         BALANCE     PERCENT OF   AVERAGE    AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF          MORTGAGE    OUTSTANDING    MORTGAGE    COUPON     CREDIT    OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
GROSS MARGINS       LOANS         ($)        POOL (%)      (%)       SCORE        ($)       LTV (%)     (%)    DOC (%)  IO (%) 
-------------     --------  --------------  ----------  --------  ----------  -----------  --------  --------  -------  -------
                                                                                                                               
2.501% to 3.000%        50      21,143,843        1.51     7.495  689.766278      422,877     81.11     37.00    86.45    32.37
4.001% to 4.500%        15       2,709,950        0.19     9.721         605      180,663     74.60     38.66    50.03     0.00
4.501% to 5.000%        99      21,374,327        1.53     9.186         611      215,902     86.20     44.78    60.17     5.11
5.001% to 5.500%     2,663     627,681,823       44.87     8.344         648      235,705     78.56     44.46    78.00     4.86
5.501% to 6.000%     1,680     382,339,879       27.33     8.676         625      227,583     88.41     43.69    63.32     3.21
6.001% to 6.500%     1,506     343,370,590       24.54     9.550         647      228,002     95.84     44.60    71.09     2.49
6.501% to 7.000%         1         323,000        0.02    11.250         604      323,000     95.00     45.00   100.00     0.00
                     -----   -------------      ------    ------  ----------      -------     -----     -----   ------    -----
TOTAL:               6,014   1,398,943,413      100.00     8.734         641      232,614     85.64     44.16    72.10     4.24
                     =====   =============      ======    ======  ==========      =======     =====     =====   ======    =====

As of the Cut-off Date, the Gross Margin for the Adjustable Rate Mortgage Loans 
ranged from 2.750% per annum to 6.750% per annum and the weighted average Gross 
Margin of the Adjustable Rate Mortgage Loans was approximately 5.731% per annum.

FWP 55th Page of 79 TOC 1st Previous Next ↓Bottom Just 55th
MAXIMUM MORTGAGE RATES                                                          
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF MAXIMUM    MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MORTGAGE RATES        LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
----------------    --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
11.500% or less            1         823,138        0.06     5.350       702      823,138     62.26     52.00   100.00     0.00
11.501% to 12.000%         5         901,176        0.06     5.949       718      180,235     61.03     41.60    90.60    27.59
12.001% to 12.500%        44      13,969,600        1.00     6.373       698      317,491     75.15     40.93    73.64    31.44
12.501% to 13.000%       168      48,903,225        3.50     6.825       680      291,091     77.34     44.21    69.56     7.99
13.001% to 13.500%       376     106,294,045        7.60     7.326       669      282,697     79.52     44.00    73.29     9.59
13.501% to 14.000%       800     212,807,479       15.21     7.814       657      266,009     83.06     44.48    71.43     4.89
14.001% to 14.500%       913     233,770,317       16.71     8.294       644      256,046     83.67     44.92    69.46     4.15
14.501% to 15.000%     1,141     262,581,563       18.77     8.776       637      230,133     86.23     43.83    71.33     2.54
15.001% to 15.500%       958     203,509,530       14.55     9.290       629      212,432     87.22     44.15    74.13     3.37
15.501% to 16.000%       904     181,772,646       12.99     9.764       621      201,076     89.71     44.39    71.58     2.25
16.001% to 16.500%       353      67,238,527        4.81    10.280       616      190,477     91.57     42.93    75.97     0.68
16.501% to 17.000%       172      33,133,856        2.37    10.758       624      192,639     92.82     42.11    77.51     6.54
17.001% to 17.500%        88      15,672,482        1.12    11.283       620      178,096     96.16     42.38    78.74     0.64
17.501% to 18.000%        61      10,750,462        0.77    11.775       637      176,237     99.40     46.75    76.02     0.52
18.001% to 18.500%        24       4,857,900        0.35    12.325       631      202,413     99.87     45.25    59.38     0.00
18.501% to 19.000%         5       1,898,465        0.14    12.683       631      379,693     99.84     49.12   100.00     0.00
19.001% to 19.500%         1          59,000        0.00    13.050       633       59,000    100.00     20.00   100.00     0.00
                       -----   -------------      ------    ------       ---      -------    ------     -----   ------    -----
TOTAL:                 6,014   1,398,943,413      100.00     8.734       641      232,614     85.64     44.16    72.10     4.24
                       =====   =============      ======    ======       ===      =======    ======     =====   ======    =====

As of the Cut-off Date, the Maximum Mortgage Rates for the Adjustable Rate      
Mortgage Loans ranged from 11.350% per annum to 19.050% per annum and the       
weighted average Maximum Mortgage Rate of the Adjustable Rate Mortgage Loans was
approximately 14.734% per annum.                                                

NEXT RATE ADJUSTMENT DATE                                                       
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                    OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
NEXT RATE        MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
ADJUSTMENT DATE    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
November 2007           9       1,827,200        0.13     8.606       628      203,022     82.14     46.95    84.31    29.04
December 2007          14       3,356,168        0.24     8.711       640      239,726     80.52     44.56    88.53    19.49
May 2008               13       2,395,028        0.17     8.965       642      184,233     83.15     41.92    82.23     0.00
June 2008               9       2,023,320        0.14     8.822       673      224,813     87.43     32.46   100.00     0.00
October 2008            1         200,982        0.01     7.750       609      200,982     30.61     37.00     0.00     0.00
November 2008          10       2,198,048        0.16     8.365       645      219,805     89.07     46.57    38.82     9.76
December 2008           7       2,049,374        0.15     7.533       663      292,768     77.62     48.29    44.53    70.50
January 2009           21       6,275,050        0.45     7.503       663      298,812     82.65     41.26    67.24    49.55
February 2009          10       4,792,464        0.34     7.823       647      479,246     80.67     42.65    68.02    29.63
March 2009              2         549,928        0.04     8.459       630      274,964     77.61     42.30     0.00     0.00
April 2009              3         506,819        0.04     8.543       588      168,940     88.09     48.44    30.92     0.00
May 2009            2,518     570,818,598       40.80     8.796       638      226,695     85.51     44.14    75.29     3.06
June 2009           2,286     531,588,732       38.00     8.853       641      232,541     86.33     44.27    71.01     2.89
November 2009           6       3,047,125        0.22     8.024       670      507,854     80.27     44.14    43.28    20.97
December 2009           1         101,209        0.01     7.400       593      101,209     80.00     45.00   100.00     0.00
January 2010           15       6,094,619        0.44     7.166       667      406,308     79.24     40.52    73.11    46.98
February 2010           3       1,524,489        0.11     7.893       607      508,163     82.69     42.58    68.05     0.00
March 2010              3         903,434        0.06     7.176       638      301,145     78.08     46.10    49.10     0.00
April 2010              2       1,399,676        0.10     7.770       603      699,838     74.23     49.43   100.00     0.00
May 2010              533     123,803,025        8.85     8.511       643      232,276     85.26     44.22    69.14     4.63
June 2010             446     107,839,544        7.71     8.424       650      241,793     85.35     44.29    64.04     6.38
May 2011                1         458,800        0.03     9.750       631      458,800     80.00     48.00   100.00     0.00
November 2011           1         238,500        0.02     8.600       663      238,500     90.00     37.00   100.00   100.00
January 2012            1          57,833        0.00     7.700       605       57,833     64.44     26.00   100.00     0.00
May 2012               50      12,988,592        0.93     8.522       659      259,772     85.00     45.16    84.87    15.84
June 2012              49      11,904,855        0.85     8.445       652      242,956     83.98     42.17    69.40     5.37
                    -----   -------------      ------     -----       ---      -------     -----     -----   ------   ------
TOTAL:              6,014   1,398,943,413      100.00     8.734       641      232,614     85.64     44.16    72.10     4.24
                    =====   =============      ======     =====       ===      =======     =====     =====   ======   ======

FWP 56th Page of 79 TOC 1st Previous Next ↓Bottom Just 56th
GROUP ONE MORTGAGE LOAN CHARACTERISTICS                                         

                                                                [Download Table]
                                                      
Aggregate Outstanding Principal Balance   $682,157,720
Aggregate Original Principal Balance      $682,189,862
Number of Mortgage Loans                         3,238

                                                                [Download Table]

                                MINIMUM    MAXIMUM   AVERAGE (1)
                                -------   --------   -----------
                                                                
Original Principal Balance      $50,000   $720,000    $210,682  
Outstanding Principal Balance   $50,000   $720,000    $210,673  

                                                                [Download Table]

                                                       WEIGHTED 
                                MINIMUM    MAXIMUM   AVERAGE (2)
                                -------   --------   -----------
                                                                
Original Term (mos)                180        360         359   
Stated remaining Term (mos)        179        360         359   
Loan Age (mos)                       0          8           1   
Current Interest Rate            5.800%    12.300%      8.737%  
Initial Interest Rate Cap(4)     1.000%     3.000%      2.991%  
Periodic Rate Cap(4)             1.000%     1.000%      1.000%  
Gross Margin(4)                  2.750%     6.750%      5.776%  
Maximum Mortgage Rate(4)        11.800%    18.300%     14.714%  
Minimum Mortgage Rate(4)         5.800%    12.300%      8.714%  
Months to Roll(4)                    5         60          26   
Original Loan-to-Value           16.33%    100.00%      85.73%  
Combined Loan-to-Value           16.33%    100.00%      87.21%  
Credit Score (3)                   540        809         633   

                                                                [Download Table]

                 EARLIEST      LATEST  
                ----------   ----------
                                       
Maturity Date   05/01/2022   06/01/2037

                                                                [Download Table]

                           PERCENT OF
                            MORTGAGE 
                              POOL   
                           ----------
                                     
LIEN POSITION                        
1st Lien                     100.00% 
2nd Lien                       0.00% 
OCCUPANCY                            
Primary                       92.82% 
Second Home                    1.06% 
Investment                     6.12% 
LOAN TYPE                            
Fixed Rate                    17.45% 
ARM                           82.55% 
AMORTIZATION TYPE                    
Fully Amortizing              36.85% 
Interest Only                  3.26% 
15/30 Balloon                  0.00% 
30/40 Balloon                 17.92% 
30/50 Balloon                 41.97% 

                                                                [Download Table]

                           PERCENT OF
                            MORTGAGE 
                              POOL   
                           ----------
                                     
YEAR OF ORIGINATION                  
2006                          0.25%  
2007                         99.75%  
LOAN PURPOSE                         
Purchase                     25.34%  
Refinance - Rate/Term        10.89%  
Refinance - Cashout          63.77%  
PROPERTY TYPE                        
Single Family                73.28%  
Condominium                   4.82%  
Planned Unit Development     13.53%  
Two- to Four-Family           8.37%  

(1)  Sum of Principal Balance divided by total number of loans.                 

(2)  Weighted by Outstanding Principal Balance.                                 

(3)  Minimum and Weighting only for loans with scores.                          

(4)  ARM Loans only                                                             

FWP 57th Page of 79 TOC 1st Previous Next ↓Bottom Just 57th
MORTGAGE RATES                                                                  

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
RANGE OF            MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MORTGAGE RATES        LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
--------------      --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
5.501% to 6.000%          3         664,676       0.10      5.972      720      221,559      70.54     45.76     87.26   37.41 
6.001% to 6.500%         38       8,159,090       1.20      6.356      697      214,713      71.20     42.39     75.32   12.52 
6.501% to 7.000%        104      24,472,818       3.59      6.805      677      235,316      74.58     43.28     66.15    2.77 
7.001% to 7.500%        196      46,518,126       6.82      7.311      663      237,337      78.67     43.37     63.13    5.57 
7.501% to 8.000%        417      96,052,211      14.08      7.807      653      230,341      82.83     44.37     64.41    2.93 
8.001% to 8.500%        484     108,576,405      15.92      8.293      639      224,331      84.60     45.43     59.34    4.55 
8.501% to 9.000%        645     139,551,804      20.46      8.779      631      216,359      87.14     44.65     61.53    3.55 
9.001% to 9.500%        501     100,374,714      14.71      9.295      618      200,349      87.74     45.12     69.79    2.68 
9.501% to 10.000%       495      95,147,026      13.95      9.768      612      192,216      89.67     45.89     66.47    1.75 
10.001% to 10.500%      215      38,949,143       5.71     10.261      602      181,159      90.61     44.57     63.84    0.87 
10.501% to 11.000%       84      14,636,917       2.15     10.727      615      174,249      91.40     44.20     72.04    1.34 
11.001% to 11.500%       36       6,308,370       0.92     11.228      605      175,233      93.54     44.38     66.55    1.60 
11.501% to 12.000%       19       2,551,421       0.37     11.818      635      134,285      98.86     48.20     87.13    0.00 
12.001% to 12.500%        1         195,000       0.03     12.300      642      195,000     100.00     54.00    100.00    0.00 
                      -----     -----------     ------     ------      ---      -------     ------     -----    ------   ----- 
TOTAL:                3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81     64.47    3.26 
                      =====     ===========     ======     ======      ===      =======     ======     =====    ======   ===== 

As of the Cut-off Date, Mortgage Rates borne by the Mortgage Loans ranged from  
5.800% per annum to 12.300% per annum and the weighted average Mortgage Rate of 
the Mortgage Loans was approximately 8.737% per annum.                          

REMAINING MONTHS TO STATED MATURITY                                             

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
RANGE OF            OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
REMAINING TERMS  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
(MONTHS)           LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
169 to 180            18       2,505,810       0.37      7.785      652      139,212      73.47     42.28     72.42    5.21 
229 to 240             1         175,000       0.03      8.200      643      175,000      87.50     34.00    100.00    0.00 
349 to 360         3,219     679,476,910      99.61      8.741      633      211,083      85.78     44.83     64.43    3.25 
                   -----     -----------     ------      -----      ---      -------      -----     -----    ------    ---- 
TOTAL:             3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81     64.47    3.26 
                   =====     ===========     ======      =====      ===      =======      =====     =====    ======    ==== 

As of the Cut-off Date, the remaining term to stated maturity of the Mortgage   
Loans ranged from 179 months to 360 months and the weighted average term to     
stated maturity of the Mortgage Loans was approximately 359 months.             

FWP 58th Page of 79 TOC 1st Previous Next ↓Bottom Just 58th
ORIGINAL MORTGAGE LOAN PRINCIPAL BALANCES                                       

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
RANGE OF ORIGINAL        OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
MORTGAGE LOAN         MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PRINCIPAL BALANCES      LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
------------------    --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
$50,000 or less             3         150,000       0.02      9.633      626       50,000      75.81     34.33    100.00    0.00 
$50,001 to $100,000       240      20,202,526       2.96      9.405      626       84,177      85.09     41.91     84.21    1.71 
$100,001 to $150,000      758      96,838,149      14.20      9.027      629      127,755      85.39     43.72     84.69    1.91 
$150,001 to $200,000      770     134,631,093      19.74      8.745      630      174,846      83.87     44.07     71.43    3.10 
$200,001 to $250,000      504     113,025,936      16.57      8.650      634      224,258      85.45     45.25     63.72    3.35 
$250,001 to $300,000      367     100,640,097      14.75      8.677      632      274,224      85.93     45.33     57.86    4.69 
$300,001 to $350,000      284      92,663,803      13.58      8.624      635      326,281      87.45     45.27     55.80    2.47 
$350,001 to $400,000      214      80,313,660      11.77      8.688      635      375,297      87.11     45.72     50.90    2.32 
$400,001 to $450,000       65      27,023,278       3.96      8.465      638      415,743      86.01     45.75     58.17    6.27 
$450,001 to $500,000       19       9,124,820       1.34      8.766      658      480,254      87.64     45.30     10.17   10.71 
$500,001 to $550,000       12       6,194,358       0.91      8.130      677      516,197      87.16     47.00     58.01    8.67 
$600,001 to $650,000        1         630,000       0.09      7.800      686      630,000      90.00     50.00    100.00    0.00 
$700,001 to $750,000        1         720,000       0.11      7.750      695      720,000      90.00     49.00    100.00    0.00 
                        -----     -----------     ------      -----      ---      -------      -----     -----    ------   ----- 
TOTAL:                  3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81     64.47    3.26 
                        =====     ===========     ======      =====      ===      =======      =====     =====    ======   ===== 

As of the Cut-off Date, the outstanding principal balances of the Mortgage Loans
ranged from approximately $50,000 to approximately $720,000 and the average     
outstanding principal balance of the Mortgage Loans was approximately $210,673. 

PRODUCT TYPES                                                                   

                                                        [Enlarge/Download Table]

                                    AGGREGATE                                      AVERAGE              WEIGHTED                  
                        NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                          OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
                       MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PRODUCT TYPES            LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
-------------          --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                  
Balloon - 30/50            153      30,540,781       4.48      9.075      625      199,613      84.34     45.68     63.14    0.00 
ARM - 1 Year/6 Month         7       1,229,875       0.18      8.744      632      175,696      86.46     46.28     71.00    0.00 
ARM - 2 Year/6 Month                                                                                                              
   (50 due in 30)          827     198,432,592      29.09      8.633      637      239,943      86.30     46.29     61.49    0.00 
ARM - 3 Year/6 Month                                                                                                              
   (50 due in 30)          218      53,739,804       7.88      8.177      647      246,513      85.15     45.77     64.71    0.00 
ARM - 5 Year/6 Month                                                                                                              
   (50 due in 30)           15       3,575,221       0.52      8.209      646      238,348      81.09     40.90     65.92    0.00 
15 Year Fixed Loans         18       2,505,810       0.37      7.785      652      139,212      73.47     42.28     72.42    5.21 
20 Year Fixed Loans          1         175,000       0.03      8.200      643      175,000      87.50     34.00    100.00    0.00 
2/28 LIBOR Loans           780     151,570,950      22.22      8.916      628      194,322      86.52     43.41     66.37    6.32 
2/28 LIBOR Loans                                                                                                                  
   (40 due in 30)          406      89,657,869      13.14      8.922      619      220,832      86.44     45.47     63.20    0.00 
30 Year Fixed Loans        425      71,990,368      10.55      8.779      639      169,389      83.00     41.97     70.31    6.48 
30/40 Balloon Loans         73      13,794,172       2.02      8.928      630      188,961      84.40     45.12     69.10    0.00 
3/27 LIBOR Loans           198      39,523,584       5.79      8.691      638      199,614      85.93     44.08     62.53   15.37 
3/27 LIBOR Loans                                                                                                                  
   (40 due in 30)           72      15,987,375       2.34      8.711      634      222,047      88.07     46.47     58.10    0.00 
5/25 LIBOR Loans            22       4,658,960       0.68      8.477      665      211,771      84.81     46.69     70.14   32.43 
5/25 LIBOR Loans                                                                                                                  
   (40 due in 30)           12       2,801,500       0.41      8.474      654      233,458      88.37     42.54     74.89    0.00 
Six Month LIBOR Loans       11       1,973,860       0.29      8.665      636      179,442      81.84     46.86     85.48   14.52 
                         -----     -----------     ------      -----      ---      -------      -----     -----    ------   ----- 
TOTAL:                   3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81     64.47    3.26 
                         =====     ===========     ======      =====      ===      =======      =====     =====    ======   ===== 

FWP 59th Page of 79 TOC 1st Previous Next ↓Bottom Just 59th
AMORTIZATION TYPE                                                               

                                                        [Enlarge/Download Table]

                                      AGGREGATE                                      AVERAGE              WEIGHTED                  
                          NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                            OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
                         MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
AMORTIZATION TYPE          LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
-----------------        --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                    
Fully Amortizing           1,366     251,385,253      36.85      8.870      630      184,030      85.41     43.07    67.87      0.00
Balloon                    1,776     408,529,314      59.89      8.678      633      230,028      86.00     45.89    62.67      0.00
60 Month Interest-Only        91      20,732,404       3.04      8.400      664      227,829      84.38     44.12    61.22    100.00
120 Month Interest-Only        5       1,510,750       0.22      7.536      697      302,150      83.78     52.99    29.34    100.00
                           -----     -----------     ------      -----      ---      -------      -----     -----    -----    ------
TOTAL:                     3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81    64.47      3.26
                           =====     ===========     ======      =====      ===      =======      =====     =====    =====    ======

FWP 60th Page of 79 TOC 1st Previous Next ↓Bottom Just 60th
ADJUSTMENT TYPE                                                                 

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                    OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
                 MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
ADJUSTMENT TYPE    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
ARM                2,568     563,151,589      82.55      8.714      633      219,296      86.24     45.14    63.63     3.10 
Fixed Rate           670     119,006,131      17.45      8.851      634      177,621      83.31     43.28    68.42     4.03 
                   -----     -----------     ------      -----      ---      -------      -----     -----    -----     ---- 
TOTAL:             3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81    64.47     3.26 
                   =====     ===========     ======      =====      ===      =======      =====     =====    =====     ==== 

STATE DISTRIBUTIONS OF MORTGAGED PROPERTIES                                     

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
GEOGRAPHIC            MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
DISTRIBUTION            LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
------------          --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
Alabama                    21       3,018,865       0.44      8.756      647      143,755      87.01     46.37     69.22    0.00 
Arizona                   101      21,040,008       3.08      8.710      638      208,317      85.56     44.34     65.75    2.47 
Arkansas                    6         577,333       0.08      9.309      605       96,222      88.79     39.91     83.22    0.00 
California                260      77,552,766      11.37      8.020      646      298,280      82.22     46.00     55.31    3.34 
Colorado                   65      13,450,230       1.97      8.824      633      206,927      87.22     45.26     80.72    2.37 
Connecticut                33       7,861,332       1.15      8.908      621      238,222      85.79     45.02     64.63    9.46 
Delaware                    2         390,199       0.06      8.010      673      195,099      89.38     41.12     43.80    0.00 
District of Columbia        2         450,700       0.07      9.106      605      225,350      75.60     52.43    100.00    0.00 
Florida                   300      66,125,330       9.69      8.510      637      220,418      84.24     44.81     50.17    2.03 
Georgia                   121      21,399,503       3.14      9.296      630      176,855      88.03     43.83     78.60    4.44 
Idaho                      21       4,159,545       0.61      8.845      634      198,074      89.18     47.31     87.42    0.00 
Illinois                  349      73,968,552      10.84      9.110      623      211,944      86.57     45.77     54.40    1.89 
Indiana                    69       9,126,379       1.34      9.064      612      132,266      87.99     44.67     77.82    0.00 
Iowa                        9       1,362,899       0.20      9.182      616      151,433      88.94     43.08     87.85    0.00 
Kansas                      6         822,145       0.12      9.156      597      137,024      87.34     41.73    100.00    0.00 
Kentucky                   17       2,714,305       0.40      9.427      611      159,665      88.89     41.66     75.82    8.09 
Louisiana                  10       1,416,900       0.21      9.658      600      141,690      88.07     43.48     87.93    0.00 
Maine                       7       1,684,200       0.25      9.914      628      240,600      89.00     43.02     67.63    0.00 
Maryland                   63      15,703,475       2.30      8.940      626      249,262      84.88     46.00     66.06    2.90 
Massachusetts              59      15,137,642       2.22      9.045      628      256,570      82.90     46.96     67.49    0.97 
Michigan                  104      16,899,572       2.48      9.487      624      162,496      89.36     43.16     67.42    1.12 
Minnesota                  94      19,060,178       2.79      8.675      635      202,768      87.51     45.52     77.53    6.12 
Mississippi                 8       1,051,385       0.15      8.909      711      131,423      87.12     42.25     62.75    0.00 
Missouri                   58       8,781,469       1.29      9.372      624      151,405      88.78     44.67     77.52    2.32 
Montana                     3         639,900       0.09      8.024      619      213,300      86.68     46.77    100.00    0.00 
Nebraska                    6         854,364       0.13      9.250      633      142,394      93.18     44.03     78.66    0.00 
Nevada                     52      12,990,323       1.90      8.428      648      249,814      86.53     45.79     59.75    2.12 
New Hampshire               9       1,898,450       0.28      8.708      628      210,939      86.55     45.51     88.39    0.00 
New Jersey                100      28,853,530       4.23      8.738      629      288,535      86.10     46.23     45.62    0.75 
New Mexico                 22       3,707,169       0.54      9.028      630      168,508      86.35     42.58     86.19   10.92 
New York                  139      39,372,069       5.77      8.640      638      283,252      85.29     44.85     50.48    7.24 
North Carolina            187      27,422,281       4.02      9.265      631      146,643      86.70     42.71     86.94    2.65 
North Dakota                1         149,900       0.02     10.650      640      149,900     100.00     42.00    100.00    0.00 
Ohio                       82      12,902,487       1.89      8.927      628      157,347      87.91     42.89     71.62    3.43 
Oklahoma                   10         990,700       0.15      9.487      640       99,070      87.21     36.86    100.00    0.00 
Oregon                     98      21,580,386       3.16      8.268      643      220,208      83.97     42.57     76.09    8.30 
Pennsylvania               65      11,532,199       1.69      8.790      633      177,418      87.07     44.09     64.80    5.26 
Rhode Island               29       7,402,685       1.09      8.736      645      255,265      85.33     46.67     61.71    3.78 
South Carolina             27       4,620,390       0.68      9.468      615      171,126      87.51     42.71     87.59    2.88 
South Dakota                3         345,500       0.05      9.170      640      115,167      89.05     44.72    100.00    0.00 
Tennessee                  52       8,002,129       1.17      8.920      625      153,887      87.16     46.65     73.91    0.00 
Texas                      90      15,054,845       2.21      8.718      630      167,276      86.52     44.22     78.39    1.69 
Utah                      164      32,288,327       4.73      8.492      638      196,880      85.07     43.30     72.12    4.66 
Vermont                     3         487,000       0.07      8.218      605      162,333      80.62     45.24    100.00   41.07 
Virginia                   26       6,114,835       0.90      8.685      628      235,186      88.73     46.54     49.74    0.00 
Washington                176      43,508,837       6.38      8.476      638      247,209      85.86     43.87     68.72    4.39 
West Virginia               2         253,800       0.04     10.795      622      126,900      93.69     43.21    100.00    0.00 
Wisconsin                 107      17,430,707       2.56      9.164      624      162,904      87.63     44.98     77.43    2.27 
                        -----     -----------     ------     ------      ---      -------     ------     -----    ------   ----- 
TOTAL:                  3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81     64.47    3.26 
                        =====     ===========     ======     ======      ===      =======     ======     =====    ======   ===== 

No more than approximately 0.34% of the Mortgage Loans will be secured by       
mortgaged properties located in any one zip code.                               

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ORIGINAL LOAN-TO-VALUE RATIOS                                                   

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
RANGE OF ORIGINAL     MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN-TO-VALUE RATIOS    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
--------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
50.00% or less             31       5,043,742       0.74      7.941      629      162,701      40.16     38.25    41.79     3.26 
50.01% to 55.00%           19       3,958,369       0.58      7.579      633      208,335      53.58     43.38    69.44     0.00 
55.01% to 60.00%           32       6,227,960       0.91      8.016      622      194,624      57.57     41.86    40.39     0.00 
60.01% to 65.00%           58      11,338,827       1.66      7.827      622      195,497      63.34     41.42    60.29     3.00 
65.01% to 70.00%           97      18,212,300       2.67      8.029      619      187,756      68.38     40.70    70.31     3.12 
70.01% to 75.00%          113      25,820,548       3.79      8.137      624      228,500      73.86     43.65    57.38     2.12 
75.01% to 80.00%          786     155,758,996      22.83      8.215      641      198,167      79.64     44.86    72.11     5.18 
80.01% to 85.00%          365      78,269,368      11.47      8.796      606      214,437      84.41     44.21    64.65     2.89 
85.01% to 90.00%          934     205,682,697      30.15      8.778      630      220,217      89.70     44.82    60.91     3.96 
90.01% to 95.00%          714     158,154,194      23.18      9.345      645      221,504      94.91     46.08    61.47     1.19 
95.01% to 100.00%          89      13,690,720       2.01     10.495      661      153,828      99.91     47.60    91.51     2.01 
                        -----     -----------     ------     ------      ---      -------      -----     -----    -----     ---- 
TOTAL:                  3,238     682,157,720     100.00      8.737      633      210,673      85.73     44.81    64.47     3.26 
                        =====     ===========     ======     ======      ===      =======      =====     =====    =====     ==== 

As of the Cut-off Date, the Original Loan-to-Value Ratios of the Mortgage Loans 
ranged from 16.33% to 100.00%.                                                  

FWP 62nd Page of 79 TOC 1st Previous Next ↓Bottom Just 62nd
COMBINED LOAN-TO-VALUE RATIOS                                                   

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
RANGE OF COMBINED     MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN-TO-VALUE RATIOS    LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
--------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
50.00% or less              31       5,043,742        0.74     7.941       629      162,701     40.16     38.25    41.79     3.26
50.01% to 55.00%            19       3,958,369        0.58     7.579       633      208,335     53.58     43.38    69.44     0.00
55.01% to 60.00%            32       6,227,960        0.91     8.016       622      194,624     57.57     41.86    40.39     0.00
60.01% to 65.00%            57      11,145,642        1.63     7.834       621      195,538     63.32     41.55    59.60     3.05
65.01% to 70.00%            97      18,212,300        2.67     8.029       619      187,756     68.38     40.70    70.31     3.12
70.01% to 75.00%           112      25,610,548        3.75     8.136       623      228,666     73.85     43.69    57.03     2.14
75.01% to 80.00%           477     103,012,400       15.10     8.040       631      215,959     79.49     42.91    58.75     4.88
80.01% to 85.00%           364      78,137,618       11.45     8.793       606      214,664     84.41     44.20    64.59     2.90
85.01% to 90.00%           949     209,309,792       30.68     8.748       631      220,558     89.51     44.80    61.58     4.24
90.01% to 95.00%           733     162,009,015       23.75     9.320       646      221,022     94.54     46.05    62.39     1.48
95.01% to 100.00%          367      59,490,334        8.72     9.116       660      162,099     84.54     48.92    96.46     3.45
                         -----     -----------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                   3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                         =====     ===========      ======     =====       ===      =======     =====     =====    =====     ====

As of the Cut-off Date, the Combined Loan-to-Value Ratios of the Mortgage Loans 
ranged from 16.33% to 100.00% and the weighted average Combined Loan-to-Value   
Ratio for Mortgage Loans was approximately 87.21%. . This table was calculated  
using the Combined Loan-to-Value Ratio for Mortgage Loans that are in a second  
lien position and for Mortgage Loans that are in a first lien position with     
subordinate financing. Approximately 7.83% of the Mortgage Loans are in a first 
lien position with subordinate financing and the weighted average Combined      
Loan-to-Value Ratio for such Mortgage Loans was approximately 98.83%.           

DEBT-TO-INCOME RATIOS                                                           

                                                        [Enlarge/Download Table]

                                AGGREGATE                                      AVERAGE              WEIGHTED                  
                    NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                      OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
RANGE OF DEBT-TO-  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
INCOME RATIOS        LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
-----------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                              
20.01% to 25.00%         73      14,181,846        2.08     8.334       646      194,272     81.00     23.15    77.31     2.12
25.01% to 30.00%        176      32,563,591        4.77     8.594       634      185,020     82.96     28.20    72.46     4.24
30.01% to 35.00%        280      53,131,359        7.79     8.584       634      189,755     83.76     33.32    63.92     2.73
35.01% to 40.00%        427      87,370,321       12.81     8.694       632      204,614     84.52     38.31    64.48     4.53
40.01% to 45.00%        590     124,319,414       18.22     8.784       630      210,711     86.13     43.29    54.40     2.38
45.01% to 50.00%        832     184,417,887       27.03     8.851       629      221,656     86.28     48.19    60.77     3.09
50.01% to 55.00%        860     186,173,302       27.29     8.714       639      216,481     86.90     53.37    72.63     3.49
                      -----     -----------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                      =====     ===========      ======     =====       ===      =======     =====     =====    =====     ====

As of the Cut-off Date, the Debt-to-Income Ratios of the Mortgage Loans ranged  
from 21.00% to 55.00% and the weighted average Debt-to-Income Ratio for Mortgage
Loans with Debt-to-Income Ratios was approximately 44.81%.                      

FWP 63rd Page of 79 TOC 1st Previous Next ↓Bottom Just 63rd
LOAN PURPOSE                                                                    

                                                        [Enlarge/Download Table]

                                    AGGREGATE                                      AVERAGE              WEIGHTED                  
                        NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                          OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
                       MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN PURPOSE             LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
------------           --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                  
Refinance - Cashout       1,943     434,991,498       63.77     8.676       626      223,876     84.64     44.40    54.13     2.94
Purchase                    914     172,870,419       25.34     8.976       651      189,136     88.80     46.26    87.82     3.69
Refinance - Rate Term       381      74,295,803       10.89     8.541       636      195,002     84.98     43.87    70.66     4.16
                          -----     -----------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                    3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                          =====     ===========      ======     =====       ===      =======     =====     =====    =====     ====

PROPERTY TYPE                                                                   

                                                        [Enlarge/Download Table]

                                  AGGREGATE                                      AVERAGE              WEIGHTED                  
                      NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                        OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
                     MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PROPERTY TYPE          LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------        --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                
Single Family           2,458     499,886,550       73.28     8.779       630      203,371     85.83     44.56    65.03     3.30
Planned Unit                                                                                                                    
   Development            415      92,295,714       13.53     8.638       635      222,399     86.27     45.42    70.61     1.54
Two- to Four-Family       197      57,098,861        8.37     8.492       649      289,842     83.76     45.80    52.21     5.03
Condominium               168      32,876,595        4.82     8.815       653      195,694     86.15     45.25    59.95     4.44
                        -----     -----------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                  3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                        =====     ===========      ======     =====       ===      =======     =====     =====    =====     ====

DOCUMENTATION                                                                   

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
                    MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
DOCUMENTATION         LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------       --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
Full Documentation     2,251     439,765,171       64.47     8.757       631      195,364     85.79     44.94   100.00     2.99
Rapid                    840     206,861,352       30.32     8.612       635      246,264     85.99     44.84     0.00     3.65
Stated Income            110      26,736,531        3.92     9.449       653      243,059     82.07     42.27     0.00     4.70
Limited Income                                                                                                                 
   Verifictation          32       7,938,291        1.16     8.408       643      248,072     86.99     45.87     0.00     3.78
Blended                    4         685,375        0.10     9.429       667      171,344     94.69     43.74     0.00     0.00
Stated Plus                1         171,000        0.03     9.850       685      171,000     95.00     42.00     0.00     0.00
                       -----     -----------      ------     -----       ---      -------     -----     -----   ------     ----
TOTAL:                 3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                       =====     ===========      ======     =====       ===      =======     =====     =====   ======     ====

FWP 64th Page of 79 TOC 1st Previous Next ↓Bottom Just 64th
OCCUPANCY                                                                       

                                                        [Enlarge/Download Table]

                          AGGREGATE                                      AVERAGE              WEIGHTED                  
              NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
             MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
OCCUPANCY      LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
---------    --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                        
Primary         2,986     633,178,138       92.82     8.763       630      212,049     85.79     44.96    62.68     2.84
Investment        221      41,744,917        6.12     8.349       686      188,891     84.56     43.06    88.38    10.19
Second Home        31       7,234,665        1.06     8.768       667      233,376     87.35     42.53    82.91     0.00
                -----     -----------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:          3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                =====     ===========      ======     =====       ===      =======     =====     =====    =====    =====

The information set forth above with respect to occupancy is based upon         
representations of the related mortgagors at the time of origination.           

MORTGAGE LOANS AGE SUMMARY                                                      

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
MORTGAGE LOANS AGE  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
(MONTHS)              LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
0                      1,429     311,271,827       45.63     8.733       635      217,825     85.77     44.98    62.07     2.98
1                      1,791     366,829,576       53.77     8.749       632      204,818     85.78     44.67    66.60     3.34
2                          4         706,652        0.10     8.104       596      176,663     74.38     40.96    50.46     0.00
3                          4         692,467        0.10     8.908       616      173,117     87.67     50.00    62.10    24.83
4                          3         978,328        0.14     7.918       589      326,109     80.58     40.12    72.59     0.00
5                          5       1,302,685        0.19     7.784       637      260,537     82.11     47.28    59.54    41.21
7                          1         175,204        0.03     7.500       686      175,204     80.00     48.00     0.00     0.00
8                          1         200,982        0.03     7.750       609      200,982     30.61     37.00     0.00     0.00
                       -----     -----------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:                 3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                       =====     ===========      ======     =====       ===      =======     =====     =====    =====    =====

As of the Cut-off Date, the weighted average age of the Mortgage Loans was      
approximately 1 months.                                                         

ORIGINAL PREPAYMENT PENALTY TERM                                                

                                                        [Enlarge/Download Table]

                                  AGGREGATE                                      AVERAGE              WEIGHTED                  
                      NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                        OF         BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE    AVERAGE   DEBT-TO-  PERCENT         
ORIGINAL PREPAYMENT  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PENALTY TERM           LOANS         ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)   IO (%)
-------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                
None                    1,117     233,679,113       34.26     9.042       630      209,202     85.83     45.01    65.11     3.46
12 Months                 192      46,722,979        6.85     8.875       641      243,349     86.52     45.05    58.01     8.11
24 Months               1,196     255,500,043       37.45     8.608       631      213,629     86.15     44.95    65.68     1.61
36 Months                 733     146,255,585       21.44     8.433       640      199,530     84.58     44.17    63.37     4.28
                        -----     -----------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                  3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                        =====     ===========      ======     =====       ===      =======     =====     =====    =====     ====

The weighted average prepayment penalty term at origination with respect to the 
Mortgage Loans having prepayment penalties is approximately 27 months.          

FWP 65th Page of 79 TOC 1st Previous Next ↓Bottom Just 65th
CREDIT SCORES                                                                   

                                                        [Enlarge/Download Table]

                                     AGGREGATE                                      AVERAGE              WEIGHTED                  
                         NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                           OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                        MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
RANGE OF CREDIT SCORES    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
----------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                   
526 to 550                    84      16,217,202        2.38     9.450       545      193,062     77.45     44.03    83.00     3.18
551 to 575                   275      51,842,139        7.60     9.392       564      188,517     82.08     44.07    73.43     0.00
576 to 600                   401      81,485,684       11.95     9.342       589      203,206     85.57     44.26    71.12     0.41
601 to 625                   762     160,932,035       23.59     8.868       613      211,197     86.24     45.30    64.25     1.65
626 to 650                   698     147,575,375       21.63     8.753       638      211,426     86.75     45.12    61.84     2.63
651 to 675                   518     114,499,894       16.78     8.419       662      221,042     86.48     44.70    55.00     5.39
676 to 700                   271      58,975,680        8.65     8.053       686      217,622     85.39     44.79    65.37     6.22
701 to 725                   118      27,603,625        4.05     7.940       712      233,929     86.97     45.04    63.71     9.42
726 to 750                    58      12,410,409        1.82     7.822       736      213,973     86.59     45.00    63.27    15.62
751 to 775                    35       7,206,494        1.06     7.924       762      205,900     85.50     44.61    83.62     6.64
776 to 800                    16       3,008,832        0.44     8.253       787      188,052     86.81     38.74    74.47     0.00
801 to 809                     2         400,350        0.06     7.258       809      200,175     66.02     41.65   100.00     0.00
                           -----     -----------      ------     -----       ---      -------     -----     -----   ------    -----
TOTAL:                     3,238     682,157,720      100.00     8.737       633      210,673     85.73     44.81    64.47     3.26
                           =====     ===========      ======     =====       ===      =======     =====     =====   ======    =====

The Credit Scores of the Mortgage Loans that were scored as of the Cut-off Date 
ranged from 540 to 809 and the weighted average Credit Score of the Mortgage    
Loans that were scored as of the Cut-off Date was approximately 633.            

CREDIT GRADE                                                                    

                                                        [Enlarge/Download Table]

                           AGGREGATE                                      AVERAGE              WEIGHTED                  
               NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                 OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
              MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
CREDIT GRADE    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                         
0                                                                                                                        

FWP 66th Page of 79 TOC 1st Previous Next ↓Bottom Just 66th
GROSS MARGINS                                                                   
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                               AGGREGATE                                        AVERAGE              WEIGHTED                  
                   NUMBER      PRINCIPAL                WEIGHTED   WEIGHTED    PRINCIPAL   WEIGHTED   AVERAGE                  
                     OF         BALANCE     PERCENT OF   AVERAGE    AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF GROSS    MORTGAGE    OUTSTANDING    MORTGAGE    COUPON     CREDIT    OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MARGINS             LOANS         ($)        POOL (%)      (%)       SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
--------------    --------  --------------  ----------  --------  ----------  -----------  --------  --------  -------  -------
                                                                                                                               
2.501% to 3.000%        23       5,092,650        0.90     7.855  669.689877      221,420     84.48     41.38    87.96    22.07
4.001% to 4.500%        10       2,104,250        0.37     9.890         598      210,425     74.41     41.38    35.64     0.00
4.501% to 5.000%        70      13,768,759        2.44     9.310         604      196,697     86.49     45.16    59.24     1.41
5.001% to 5.500%       980     203,354,927       36.11     8.320         633      207,505     78.34     44.94    64.72     3.38
5.501% to 6.000%       883     204,675,147       36.34     8.661         626      231,795     88.35     44.83    60.66     3.64
6.001% to 6.500%       601     133,832,855       23.76     9.339         647      222,684     95.23     46.12    66.40     1.36
6.501% to 7.000%         1         323,000        0.06    11.250         604      323,000     95.00     45.00   100.00     0.00
                     -----     -----------      ------    ------  ----------      -------     -----     -----   ------    -----
TOTAL:               2,568     563,151,589      100.00     8.714         633      219,296     86.24     45.14    63.63     3.10
                     =====     ===========      ======    ======  ==========      =======     =====     =====   ======    =====

As of the Cut-off Date, the Gross Margin for the Adjustable Rate Mortgage Loans 
ranged from 2.750% per annum to 6.750% per annum and the weighted average Gross 
Margin of the Adjustable Rate Mortgage Loans was approximately 5.776% per annum.

FWP 67th Page of 79 TOC 1st Previous Next ↓Bottom Just 67th
MAXIMUM MORTGAGE RATES                                                          
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF MAXIMUM    MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MORTGAGE RATES        LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
----------------    --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
11.501% to 12.000%         3         664,676        0.12     5.972       720      221,559     70.54     45.76    87.26    37.41
12.001% to 12.500%        21       5,212,400        0.93     6.378       692      248,210     74.54     43.48    66.16    19.59
12.501% to 13.000%        71      17,529,757        3.11     6.822       668      246,898     75.13     44.99    62.71     2.88
13.001% to 13.500%       169      39,950,776        7.09     7.318       659      236,395     79.28     43.16    62.74     6.48
13.501% to 14.000%       347      81,297,768       14.44     7.807       651      234,288     83.67     44.57    66.28     2.68
14.001% to 14.500%       418      96,228,266       17.09     8.292       636      230,211     84.90     45.83    59.26     4.09
14.501% to 15.000%       524     117,583,615       20.88     8.776       631      224,396     87.72     44.81    60.14     3.04
15.001% to 15.500%       405      83,524,229       14.83     9.297       621      206,233     88.44     45.31    70.18     2.66
15.501% to 16.000%       381      76,599,532       13.60     9.764       614      201,049     90.01     46.27    64.03     0.94
16.001% to 16.500%       147      28,987,550        5.15    10.260       607      197,194     91.01     45.36    61.10     0.57
16.501% to 17.000%        47       9,453,012        1.68    10.725       617      201,128     90.97     44.37    73.82     2.07
17.001% to 17.500%        23       4,196,821        0.75    11.236       607      182,470     93.23     44.61    63.93     2.40
17.501% to 18.000%        11       1,728,187        0.31    11.849       642      157,108     99.07     49.80    81.00     0.00
18.001% to 18.500%         1         195,000        0.03    12.300       642      195,000    100.00     54.00   100.00     0.00
                       -----     -----------      ------    ------       ---      -------    ------     -----   ------    -----
TOTAL:                 2,568     563,151,589      100.00     8.714       633      219,296     86.24     45.14    63.63     3.10
                       =====     ===========      ======    ======       ===      =======    ======     =====   ======    =====


As of the Cut-off Date, the Maximum Mortgage Rates for the Adjustable Rate      
Mortgage Loans ranged from 11.800% per annum to 18.300% per annum and the       
weighted average Maximum Mortgage Rate of the Adjustable Rate Mortgage Loans was
approximately 14.714% per annum.                                                

NEXT RATE ADJUSTMENT DATE                                                       
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                    OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
NEXT RATE        MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
ADJUSTMENT DATE    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
November 2007           6       1,145,600        0.20     9.308      601       190,933     83.42     46.57    74.98    25.02
December 2007           6       1,143,260        0.20     8.540      650       190,543     82.50     46.64   100.00     0.00
May 2008                4         695,750        0.12     9.183      620       173,938     86.93     47.55    75.15     0.00
June 2008               2         350,300        0.06     7.867      624       175,150     81.03     44.42   100.00     0.00
October 2008            1         200,982        0.04     7.750      609       200,982     30.61     37.00     0.00     0.00
November 2008           1         175,204        0.03     7.500      686       175,204     80.00     48.00     0.00     0.00
January 2009            1         199,933        0.04     8.350      661       199,933     80.00     43.00     0.00     0.00
February 2009           2         595,081        0.11     8.413      566       297,541     80.95     45.99    54.94     0.00
March 2009              1         262,440        0.05     8.250      573       262,440     75.00     47.00     0.00     0.00
April 2009              3         506,819        0.09     8.543      588       168,940     88.09     48.44    30.92     0.00
May 2009            1,123     238,642,101       42.38     8.769      630       212,504     86.25     44.93    66.11     2.63
June 2009             883     199,318,697       35.39     8.819      631       225,729     86.69     45.37    60.75     1.65
January 2010            2         863,997        0.15     7.102      630       431,998     80.00     49.41    62.13    62.13
February 2010           1         383,246        0.07     7.150      625       383,246     80.00     31.00   100.00     0.00
March 2010              1         131,719        0.02     8.150      587       131,719     85.00     55.00   100.00     0.00
April 2010              1         199,833        0.04     6.990      616       199,833     39.60     22.00   100.00     0.00
May 2010              276      61,259,175       10.88     8.520      639       221,954     86.10     44.99    62.41     4.51
June 2010             205      46,041,770        8.18     8.364      647       224,594     85.86     45.73    62.82     6.03
May 2012               26       5,698,851        1.01     8.455      665       219,187     86.17     45.02    76.15    21.18
June 2012              23       5,336,830        0.95     8.319      647       232,036     82.73     42.42    63.40     5.70
                    -----     -----------      ------     -----      ---       -------     -----     -----   ------    -----
TOTAL:              2,568     563,151,589      100.00     8.714      633       219,296     86.24     45.14    63.63     3.10
                    =====     ===========      ======     =====      ===       =======     =====     =====   ======    =====

FWP 68th Page of 79 TOC 1st Previous Next ↓Bottom Just 68th
GROUP TWO MORTGAGE LOAN CHARACTERISTICS                                         

                                                                [Download Table]
                                                        
Aggregate Outstanding Principal Balance   $1,000,127,722
Aggregate Original Principal Balance      $1,000,180,268
Number of Mortgage Loans                           4,698

                                                                [Download Table]

                                MINIMUM     MAXIMUM    AVERAGE (1)
                                -------   ----------   -----------
                                                                  
Original Principal Balance      $33,500   $1,300,000     $212,895 
Outstanding Principal Balance   $33,399   $1,300,000     $212,884 

                                                                [Download Table]

                                                         WEIGHTED 
                                MINIMUM     MAXIMUM    AVERAGE (2)
                                -------   ----------   -----------
                                                                  
Original Term (mos)                 180        360          359   
Stated remaining Term (mos)         179        360          359   
Loan Age (mos)                        0          7            1   
Current Interest Rate             5.350%    13.400%       8.818%  
Initial Interest Rate Cap(4)      1.000%     3.000%       2.990%  
Periodic Rate Cap(4)              1.000%     1.000%       1.000%  
Gross Margin(4)                   2.750%     6.400%       5.700%  
Maximum Mortgage Rate(4)         11.350%    19.050%      14.748%  
Minimum Mortgage Rate(4)          5.350%    13.050%       8.748%  
Months to Roll(4)                     5         60           26   
Original Loan-to-Value            15.06%    100.00%       85.01%  
Combined Loan-to-Value            15.06%    100.00%       91.72%  
Credit Score (3)                    540        808          645   

                                                                [Download Table]

                                 EARLIEST      LATEST  
                                ----------   ----------
                                                       
Maturity Date                   05/01/2022   06/01/2037

                                                                [Download Table]

                                  PERCENT OF 
                                MORTGAGE POOL
                                -------------
                                             
LIEN POSITION                                
1st Lien                           100.00%   
2nd Lien                             0.00%   

OCCUPANCY                                    
Primary                             96.78%   
Second Home                          0.33%   
Investment                           2.90%   

LOAN TYPE                                    
Fixed Rate                          16.43%   
ARM                                 83.57%   

AMORTIZATION TYPE                            
Fully Amortizing                    32.92%   
Interest Only                        5.20%   
15/30 Balloon                        0.01%   
30/40 Balloon                       13.19%   
30/50 Balloon                       48.69%   

                                                                [Download Table]

                                  PERCENT OF 
                                MORTGAGE POOL
                                -------------
                                             
YEAR OF ORIGINATION                          
2006                                 2.26%   
2007                                97.74%   

LOAN PURPOSE                                 
Purchase                            64.08%   
Refinance - Rate/Term                5.02%   
Refinance - Cashout                 30.90%   

PROPERTY TYPE                                
Single Family                       68.48%   
Condominium                          4.66%   
Planned Unit Development            21.52%   
Two- to Four-Family                  5.34%   

(1)  Sum of Principal Balance divided by total number of loans.                 

(2)  Weighted by Outstanding Principal Balance.                                 

(3)  Minimum and Weighting only for loans with scores.                          

(4)  ARM Loans only                                                             

FWP 69th Page of 79 TOC 1st Previous Next ↓Bottom Just 69th
MORTGAGE RATES                                                                  

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF            MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MORTGAGE RATES        LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
--------------      --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
5.500% or less             1         823,138        0.08     5.350       702      823,138     62.26     52.00   100.00     0.00
5.501% to 6.000%           5       1,097,500        0.11     5.967       713      219,500     52.02     43.33   100.00     0.00
6.001% to 6.500%          30      11,567,395        1.16     6.377       698      385,580     75.31     38.90    83.41    31.17
6.501% to 7.000%         120      36,860,824        3.69     6.834       691      307,174     78.08     41.69    75.39    11.97
7.001% to 7.500%         244      71,287,935        7.13     7.330       676      292,164     79.12     44.18    79.87    11.51
7.501% to 8.000%         561     151,965,009       15.19     7.818       662      270,882     81.84     43.81    73.89     7.28
8.001% to 8.500%         617     156,239,765       15.62     8.295       650      253,225     82.77     44.04    75.82     4.10
8.501% to 9.000%         808     171,343,195       17.13     8.777       640      212,058     84.49     42.62    79.38     2.07
9.001% to 9.500%         708     138,900,558       13.89     9.288       632      196,187     85.99     43.02    77.58     4.62
9.501% to 10.000%        745     132,367,112       13.24     9.764       623      177,674     88.79     42.68    77.36     3.88
10.001% to 10.500%       328      51,978,118        5.20    10.284       620      158,470     91.35     41.30    88.01     1.06
10.501% to 11.000%       231      33,497,886        3.35    10.763       623      145,012     92.60     40.54    81.49     6.33
11.001% to 11.500%       131      17,670,656        1.77    11.280       623      134,891     96.53     41.32    88.86     0.93
11.501% to 12.000%       107      14,788,664        1.48    11.765       628      138,212     98.20     45.62    81.25     1.87
12.001% to 12.500%        42       6,364,825        0.64    12.310       628      151,543     99.49     44.40    69.00     2.12
12.501% to 13.000%        16       3,054,740        0.31    12.709       629      190,921     99.51     46.19    88.36     0.00
13.001% to 13.500%         4         320,400        0.03    13.209       628       80,100    100.00     43.26    75.50     0.00
                       -----   -------------      ------    ------       ---      -------     -----     -----   ------     ----
TOTAL:                 4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                       =====   =============      ======    ======       ===      =======     =====     =====   ======     ====

As of the Cut-off Date, Mortgage Rates borne by the Mortgage Loans ranged from  
5.350% per annum to 13.400% per annum and the weighted average Mortgage Rate of 
the Mortgage Loans was approximately 8.818% per annum.                          

REMAINING MONTHS TO STATED MATURITY                                             

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF REMAINING  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
TERMS (MONTHS)        LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
169 to 180                39       3,540,648        0.35     8.599       651       90,786     76.06     34.32    72.37    10.58
229 to 240                 1          77,890        0.01     9.650       698       77,890     94.99     40.00     0.00     0.00
349 to 360             4,658     996,509,184       99.64     8.819       645      213,935     85.04     43.07    78.15     5.18
                       -----   -------------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:                 4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                       =====   =============      ======     =====       ===      =======     =====     =====    =====    =====

As of the Cut-off Date, the remaining term to stated maturity of the Mortgage   
Loans ranged from 179 months to 360 months and the weighted average term to     
stated maturity of the Mortgage Loans was approximately 359 months.             

FWP 70th Page of 79 TOC 1st Previous Next ↓Bottom Just 70th
ORIGINAL MORTGAGE LOAN PRINCIPAL BALANCES                                       

                                                        [Enlarge/Download Table]

                                     AGGREGATE                                      AVERAGE              WEIGHTED                  
                         NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
RANGE OF                   OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
ORIGINAL MORTGAGE LOAN  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PRINCIPAL BALANCES        LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
----------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                   
$50,000 or less               49       2,379,779        0.24    10.050       621       48,567     74.69     36.87    95.80     0.00
$50,001 to $100,000        1,326     101,720,949       10.17     9.549       623       76,713     85.35     39.34    89.37     0.78
$100,001 to $150,000       1,008     124,445,669       12.44     9.036       627      123,458     84.53     41.39    84.30     2.16
$150,001 to $200,000         680     117,731,348       11.77     8.849       635      173,134     84.69     42.73    83.28     4.02
$200,001 to $250,000         413      92,911,470        9.29     8.874       642      224,967     85.35     43.58    84.74     3.54
$250,001 to $300,000         261      71,437,744        7.14     8.885       645      273,708     86.00     43.51    88.57     6.67
$300,001 to $350,000         141      45,490,822        4.55     8.692       655      322,630     83.43     44.17    91.39     4.30
$350,001 to $400,000          93      34,855,697        3.49     8.542       666      374,792     82.79     45.36    88.29     3.19
$400,001 to $450,000         155      66,648,318        6.66     8.652       647      429,989     85.42     45.85    63.08     3.18
$450,001 to $500,000         165      78,363,206        7.84     8.735       651      474,929     86.38     44.99    60.59     5.49
$500,001 to $550,000         106      55,734,969        5.57     8.639       648      525,802     86.89     44.67    62.27     7.65
$550,001 to $600,000         107      61,585,445        6.16     8.671       654      575,565     86.71     44.30    58.93     9.23
$600,001 to $650,000          60      37,567,490        3.76     8.739       655      626,125     87.27     45.57    56.67     5.00
$650,001 to $700,000          43      28,998,163        2.90     8.599       662      674,376     84.50     40.84    74.38     9.23
$700,001 to $750,000          20      14,493,040        1.45     8.335       666      724,652     83.86     43.36    75.00     9.77
$750,001 to $800,000          15      11,618,554        1.16     8.446       665      774,570     83.36     47.46    93.34     6.89
$800,001 to $850,000          14      11,604,808        1.16     8.105       668      828,915     79.93     39.97    85.48    14.06
$850,001 to $900,000           7       6,142,500        0.61     8.742       653      877,500     81.35     36.02    71.88    43.01
$900,001 to $950,000           7       6,481,990        0.65     8.205       666      925,999     82.85     43.18    71.61    42.84
$950,001 to $1,000,000        13      12,770,750        1.28     7.882       681      982,365     81.83     40.11    92.17     0.00
$1,000,001 or greater         15      17,145,012        1.71     7.621       696    1,143,001     78.44     39.06    87.33    14.46
                           -----   -------------      ------    ------       ---    ---------     -----     -----    -----    -----
TOTAL:                     4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                           =====   =============      ======    ======       ===    =========     =====     =====    =====    =====

As of the Cut-off Date, the outstanding principal balances of the Mortgage Loans
ranged from approximately $33,399 to approximately $1,300,000 and the average   
outstanding principal balance of the Mortgage Loans was approximately $212,884. 

PRODUCT TYPES                                                                   

                                                        [Enlarge/Download Table]

                                    AGGREGATE                                      AVERAGE              WEIGHTED                  
                        NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                          OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                       MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PRODUCT TYPES            LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)   IO (%)
-------------          --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                  
Balloon - 30/50             148      27,238,151        2.72     9.093       627      184,042     83.95     44.19    69.92     0.00
ARM - 1 Year/6 Month         16       3,372,298        0.34     8.949       667      210,769     85.16     34.82    92.50     0.00
ARM - 2 Year/6 Month                                                                                                              
   (50 due in 30)         1,208     374,257,929       37.42     8.613       653      309,816     84.63     45.31    78.35     0.00
ARM - 3 Year/6 Month                                                                                                              
   (50 due in 30)           230      77,681,499        7.77     8.205       653      337,746     83.47     45.71    69.60     0.00
ARM - 5 Year/6 Month                                                                                                              
   (50 due in 30)            23       7,768,145        0.78     8.375       654      337,745     81.24     42.57    79.97     0.00
15 Year Fixed Loans          38       3,404,648        0.34     8.471       652       89,596     75.10     33.93    71.27     7.00
15/30 Balloon Loans           1         136,000        0.01    11.800       627      136,000    100.00     44.00   100.00   100.00
20 Year Fixed Loans           1          77,890        0.01     9.650       698       77,890     94.99     40.00     0.00     0.00
2/28 LIBOR Loans          1,235     212,494,103       21.25     9.047       637      172,060     86.52     40.43    81.96    13.86
2/28 LIBOR Loans                                                                                                                  
   (40 due in 30)           403      94,023,506        9.40     9.113       634      233,309     86.48     43.92    75.89     0.00
30 Year Fixed Loans         956     116,153,994       11.61     9.210       638      121,500     83.95     39.40    81.80     8.46
30/40 Balloon Loans         108      17,325,214        1.73     9.179       631      160,419     84.14     44.56    83.25     0.00
3/27 LIBOR Loans            215      38,915,987        3.89     8.631       647      181,005     84.15     39.05    79.80    25.79
3/27 LIBOR Loans                                                                                                                  
   (40 due in 30)            78      19,235,895        1.92     8.780       647      246,614     87.92     42.33    51.40     0.00
5/25 LIBOR Loans             20       4,030,778        0.40     8.902       652      201,539     85.73     43.66    83.71    35.33
5/25 LIBOR Loans                                                                                                                  
   (40 due in 30)             8       1,367,176        0.14     9.464       629      170,897     92.00     43.17    94.00     0.00
Six Month LIBOR Loans        10       2,644,508        0.26     8.564       647      264,451     81.00     44.59    94.90    33.96
                          -----   -------------      ------    ------       ---      -------    ------     -----    -----   ------
TOTAL:                    4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                          =====   =============      ======    ======       ===      =======    ======     =====    =====   ======

FWP 71st Page of 79 TOC 1st Previous Next ↓Bottom Just 71st
AMORTIZATION TYPE                                                               

                                                        [Enlarge/Download Table]

                                      AGGREGATE                                      AVERAGE              WEIGHTED                  
                          NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                            OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                         MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
AMORTIZATION TYPE          LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
-----------------        --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                    
Fully Amortizing            2,342     329,205,790       32.92     9.172       634      140,566     85.81     40.08    82.38     0.00
Balloon                     2,207     619,033,516       61.90     8.679       648      280,486     84.80     44.95    75.87     0.02
60 Month Interest-Only        144      50,464,327        5.05     8.217       670      350,447     82.24     38.92    77.39   100.00
120 Month Interest-Only         5       1,424,090        0.14     8.483       670      284,818     85.21     40.54   100.00   100.00
                            -----   -------------      ------     -----       ---      -------     -----     -----   ------   ------
TOTAL:                      4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                            =====   =============      ======     =====       ===      =======     =====     =====   ======   ======

FWP 72nd Page of 79 TOC 1st Previous Next ↓Bottom Just 72nd
ADJUSTMENT TYPE                                                                 

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                    OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                 MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
ADJUSTMENT TYPE    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
ARM                 3,446     835,791,824       83.57     8.748       647      242,540     85.24     43.51    77.80     5.00
Fixed Rate          1,252     164,335,898       16.43     9.174       635      131,259     83.81     40.63    79.74     6.21
                    -----   -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:              4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                    =====   =============      ======     =====       ===      =======     =====     =====    =====     ====

STATE DISTRIBUTIONS OF MORTGAGED PROPERTIES                                     

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
GEOGRAPHIC            MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
DISTRIBUTION            LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
------------          --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
Alabama                     57       6,026,622        0.60     9.743       630      105,730     88.70     41.15    89.46     7.59
Arizona                    137      27,500,274        2.75     8.633       645      200,732     84.57     44.45    81.84     5.69
Arkansas                    21       2,676,681        0.27     8.912       627      127,461     83.29     39.40   100.00     0.00
California                 483     215,244,737       21.52     8.152       661      445,641     82.59     45.13    71.76     8.08
Colorado                    77      20,477,473        2.05     9.006       646      265,941     85.70     43.22    85.53     0.00
Connecticut                 24       4,768,282        0.48     9.163       633      198,678     87.73     42.80    84.75     6.61
Delaware                     7       2,303,340        0.23     8.901       630      329,049     84.18     44.00    88.63    11.49
District of Columbia         2         903,350        0.09     8.801       629      451,675     87.69     37.90   100.00     0.00
Florida                    495     112,331,985       11.23     8.627       647      226,933     84.13     41.42    75.08     3.79
Georgia                    154      26,956,312        2.70     9.488       640      175,041     87.34     43.02    86.68     4.83
Idaho                       27       5,485,339        0.55     9.222       628      203,161     88.38     42.40    78.11     0.00
Illinois                   191      44,099,004        4.41     9.121       644      230,885     87.01     41.79    65.08     4.46
Indiana                    189      18,230,346        1.82     9.373       618       96,457     88.37     40.33    85.01     5.66
Iowa                        21       1,700,515        0.17     9.896       611       80,977     90.61     37.46    92.90     0.00
Kansas                      24       2,464,077        0.25    10.076       625      102,670     89.14     43.36    94.37     0.00
Kentucky                    61       6,721,490        0.67     9.175       627      110,188     88.61     39.71    86.79     0.00
Louisiana                   34       4,196,021        0.42     9.351       631      123,412     89.00     39.75    95.57     0.00
Maine                       15       2,361,215        0.24     9.466       652      157,414     89.05     44.94    86.38    12.47
Maryland                    90      32,987,267        3.30     8.958       646      366,525     86.31     46.50    82.89     3.17
Massachusetts               54      17,731,780        1.77     9.132       641      328,366     84.33     43.34    76.33     6.87
Michigan                   183      20,699,894        2.07     9.409       633      113,114     88.09     39.23    92.52     8.68
Minnesota                   48       7,691,801        0.77     8.771       637      160,246     83.92     42.76    78.59    13.61
Mississippi                 37       4,760,944        0.48     9.415       609      128,674     87.93     44.44    96.79     0.00
Missouri                    84      10,257,145        1.03     9.200       615      122,109     86.23     39.57    87.76     5.73
Montana                      4         379,025        0.04     9.004       629       94,756     86.18     44.66    78.63     0.00
Nebraska                    13       1,567,411        0.16     9.974       628      120,570     90.54     42.44    92.19     0.00
Nevada                      66      20,304,034        2.03     8.640       652      307,637     81.15     46.61    96.71     5.11
New Hampshire                6       1,160,394        0.12    10.193       635      193,399     87.06     49.44   100.00     0.00
New Jersey                  73      22,090,180        2.21     9.303       637      302,605     86.68     44.73    63.46     7.25
New Mexico                  16       3,101,566        0.31     9.840       626      193,848     87.78     44.66    92.91     0.00
New York                   254      71,948,271        7.19     8.803       652      283,261     86.07     44.38    51.44     6.35
North Carolina              69      12,417,790        1.24     9.503       645      179,968     87.46     39.08    88.00     6.34
North Dakota                 1          90,250        0.01     9.600       642       90,250     95.00     41.00     0.00     0.00
Ohio                       229      25,496,453        2.55     9.316       623      111,338     86.72     40.89    90.23     4.84
Oklahoma                    32       3,163,085        0.32     9.871       626       98,846     89.49     40.80   100.00     0.00
Oregon                      87      19,973,438        2.00     8.709       650      229,580     86.39     43.17    85.32     8.32
Pennsylvania               147      17,315,997        1.73     9.284       621      117,796     87.08     41.86    86.04     1.83
Rhode Island                15       4,662,478        0.47     9.488       644      310,832     84.89     42.71    81.31     0.00
South Carolina              52       6,329,523        0.63     9.810       622      121,722     86.84     40.60    88.04     0.00
South Dakota                 4         817,555        0.08    10.134       622      204,389     93.70     40.96    77.35     0.00
Tennessee                  182      25,311,104        2.53     9.040       627      139,072     86.12     43.93    86.22     5.17
Texas                      479      66,022,520        6.60     9.191       639      137,834     85.36     41.99    87.19     3.24
Utah                       123      26,555,190        2.66     8.659       645      215,896     83.36     39.32    94.84     3.93
Vermont                      6         704,520        0.07     8.466       638      117,420     86.24     47.35   100.00    15.33
Virginia                    46      11,028,762        1.10     8.518       639      239,756     83.09     44.00    61.73     0.00
Washington                 152      41,628,591        4.16     8.541       650      273,872     82.76     41.80    83.28     3.49
West Virginia               12       2,068,540        0.21     9.749       630      172,378     90.31     43.61    88.52     0.00
Wisconsin                   99      14,478,556        1.45     9.323       631      146,248     87.08     39.52    90.57     0.00
Wyoming                     16       2,936,595        0.29     9.144       625      183,537     88.38     46.57   100.00     7.49
                         -----   -------------      ------    ------       ---      -------     -----     -----   ------    -----
TOTAL:                   4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                         =====   =============      ======    ======       ===      =======     =====     =====   ======    =====

No more than approximately 0.32% of the Mortgage Loans will be secured by       
mortgaged properties located in any one zip code.                               

FWP 73rd Page of 79 TOC 1st Previous Next ↓Bottom Just 73rd
ORIGINAL LOAN-TO-VALUE RATIOS                                                   

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF ORIGINAL     MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN-TO-VALUE RATIOS    LOANS         ($)        POOL (%)      (%)      SCORE       ($)       LTV (%)     (%)    DOC (%)  IO (%) 
--------------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
50.00% or less              61       7,240,544        0.72     8.098       631      118,697     41.06     37.79    74.77     0.00
50.01% to 55.00%            23       3,569,447        0.36     7.841       616      155,193     52.83     37.27    37.22     6.30
55.01% to 60.00%            42       7,068,034        0.71     7.817       632      168,287     57.84     39.23    68.67     7.82
60.01% to 65.00%            77      13,068,854        1.31     7.822       632      169,725     62.73     41.36    73.24     3.83
65.01% to 70.00%            67      14,645,125        1.46     7.868       627      218,584     68.70     41.08    56.65    13.78
70.01% to 75.00%           128      26,939,541        2.69     8.126       627      210,465     73.77     38.28    65.32     8.66
75.01% to 80.00%         1,797     430,539,797       43.05     8.385       659      239,588     79.87     43.88    88.63     7.22
80.01% to 85.00%           408      67,762,141        6.78     8.740       611      166,084     84.46     41.57    72.22     1.73
85.01% to 90.00%           842     171,883,244       17.19     8.840       627      204,137     89.70     42.22    64.00     3.43
90.01% to 95.00%           871     186,401,975       18.64     9.386       642      214,009     94.87     43.13    72.14     3.62
95.01% to 100.00%          382      71,009,020        7.10    10.840       657      185,887     99.97     44.75    83.43     2.13
                         -----   -------------      ------    ------       ---      -------     -----     -----    -----    -----
TOTAL:                   4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                         =====   =============      ======    ======       ===      =======     =====     =====    =====    =====

As of the Cut-off Date, the Original Loan-to-Value Ratios of the Mortgage Loans 
ranged from 15.06% to 100.00%.                                                  

FWP 74th Page of 79 TOC 1st Previous Next ↓Bottom Just 74th
COMBINED LOAN-TO-VALUE RATIOS                                                   

                                                        [Enlarge/Download Table]

                                  AGGREGATE                                      AVERAGE              WEIGHTED                  
                       NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                         OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF COMBINED     MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN-TO-VALUE RATIOS    LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
--------------------  --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                
50.00% or less              61      7,240,544        0.72     8.098       631      118,697     41.06     37.79    74.77     0.00
50.01% to 55.00%            23      3,569,447        0.36     7.841       616      155,193     52.83     37.27    37.22     6.30
55.01% to 60.00%            41      6,934,934        0.69     7.796       632      169,145     57.84     39.37    68.07     7.97
60.01% to 65.00%            76     13,018,854        1.30     7.817       632      171,301     62.73     41.30    73.13     3.84
65.01% to 70.00%            66     14,145,125        1.41     7.807       627      214,320     68.70     40.80    55.11    14.27
70.01% to 75.00%           123     23,313,291        2.33     8.156       623      189,539     73.68     38.56    59.92     6.25
75.01% to 80.00%           476     91,900,661        9.19     8.201       630      193,069     79.45     39.67    61.39     9.04
80.01% to 85.00%           411     69,008,891        6.90     8.719       611      167,905     84.32     41.38    72.72     1.70
85.01% to 90.00%           857    178,186,987       17.82     8.794       628      207,919     89.27     42.31    65.27     3.90
90.01% to 95.00%           903    200,872,470       20.08     9.314       644      222,450     93.76     42.79    73.37     4.52
95.01% to 100.00%        1,661    391,936,517       39.19     8.887       665      235,964     83.59     45.19    93.96     5.55
                         -----  -------------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:                   4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                         =====  =============      ======     =====       ===      =======     =====     =====    =====    =====

As of the Cut-off Date, the Combined Loan-to-Value Ratios of the Mortgage Loans 
ranged from 15.06% to 100.00% and the weighted average Combined Loan-to-Value   
Ratio for Mortgage Loans was approximately 91.72%.. This table was calculated   
using the Combined Loan-to-Value Ratio for Mortgage Loans that are in a second  
lien position and for Mortgage Loans that are in a first lien position with     
subordinate financing. Approximately 34.29% of the Mortgage Loans are in a first
lien position with subordinate financing and the weighted average Combined      
Loan-to-Value Ratio for such Mortgage Loans was approximately 99.48%.           

DEBT-TO-INCOME RATIOS                                                           

                                                        [Enlarge/Download Table]

                               AGGREGATE                                      AVERAGE              WEIGHTED                  
                    NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                      OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF DEBT-TO-  MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
INCOME RATIOS        LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
-----------------  --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                             
20.00% or less          261     50,138,823        5.01     8.706       645      192,103     83.77     14.11    89.90    17.57
20.01% to 25.00%        184     32,163,887        3.22     8.938       636      174,804     83.13     23.42    89.39     3.51
25.01% to 30.00%        293     45,625,712        4.56     8.834       635      155,719     84.74     28.07    87.77     6.37
30.01% to 35.00%        425     76,534,565        7.65     8.920       645      180,081     84.38     33.05    81.42     2.69
35.01% to 40.00%        592    113,371,946       11.34     8.877       641      191,507     84.60     38.12    71.71     6.04
40.01% to 45.00%        806    168,317,561       16.83     8.898       644      208,831     85.10     43.11    71.95     4.84
45.01% to 50.00%      1,060    251,989,364       25.20     8.855       646      237,726     85.86     48.23    70.99     5.17
50.01% to 55.00%      1,073    261,079,715       26.10     8.684       649      243,318     85.03     53.56    85.38     3.49
55.01% to 60.00%          4        906,150        0.09     7.700       647      226,538     76.05     58.00   100.00     0.00
                      -----  -------------      ------     -----       ---      -------     -----     -----   ------    -----
TOTAL:                4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                      =====  =============      ======     =====       ===      =======     =====     =====   ======    =====

As of the Cut-off Date, the Debt-to-Income Ratios of the Mortgage Loans ranged  
from 1.00% to 59.00% and the weighted average Debt-to-Income Ratio for Mortgage 
Loans with Debt-to-Income Ratios was approximately 43.03%.                      

FWP 75th Page of 79 TOC 1st Previous Next ↓Bottom Just 75th
LOAN PURPOSE                                                                    

                                                        [Enlarge/Download Table]

                                   AGGREGATE                                      AVERAGE              WEIGHTED                  
                        NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                          OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                       MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
LOAN PURPOSE             LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
------------           --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                                 
Purchase                  2,987    640,878,246       64.08     8.934       653      214,556     85.94     43.22    90.09     5.81
Refinance - Cashout       1,454    309,080,861       30.90     8.621       629      212,573     83.43     42.97    55.37     3.44
Refinance - Rate Term       257     50,168,615        5.02     8.545       635      195,209     82.72     41.02    65.42     8.20
                          -----  -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                    4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                          =====  =============      ======     =====       ===      =======     =====     =====    =====     ====

PROPERTY TYPE                                                                   

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                      NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                        OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                     MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PROPERTY TYPE          LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
-------------        --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
Single Family           3,523    684,911,127       68.48     8.852       642      194,411     85.14     42.98    76.72     4.27
Planned Unit                                                                                                                   
   Development            762    215,242,150       21.52     8.754       650      282,470     84.76     43.13    84.69     7.67
Two- to Four-Family       204     53,373,573        5.34     8.724       654      261,635     85.06     44.10    65.85     3.69
Condominium               209     46,600,873        4.66     8.728       658      222,971     84.12     42.16    82.37     9.31
                        -----  -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                  4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                        =====  =============      ======     =====       ===      =======     =====     =====    =====     ====

DOCUMENTATION                                                                   

                                                        [Enlarge/Download Table]

                                AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
                    MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
DOCUMENTATION         LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
-------------       --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                              
Full Documentation     3,920    781,300,798       78.12     8.841       643      199,311     84.78     42.76   100.00     5.20
Rapid                    513    149,810,633       14.98     8.542       643      292,029     85.68     44.69     0.00     2.74
Stated Income            192     49,422,930        4.94     9.277       666      257,411     85.84     42.05     0.00    14.20
Limited Income                                                                                                                
   Verifictation          53     12,415,244        1.24     8.614       654      234,250     84.23     43.66     0.00     2.27
Stated Plus               11      4,830,367        0.48     8.910       671      439,124     88.45     42.87     0.00     0.00
Blended                    9      2,347,750        0.23     9.877       658      260,861     95.28     47.50     0.00     0.00
                       -----  -------------      ------     -----       ---      -------     -----     -----   ------    -----
TOTAL:                 4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                       =====  =============      ======     =====       ===      =======     =====     =====   ======    =====

FWP 76th Page of 79 TOC 1st Previous Next ↓Bottom Just 76th
OCCUPANCY                                                                       

                                                        [Enlarge/Download Table]

                         AGGREGATE                                      AVERAGE              WEIGHTED                  
              NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
             MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
OCCUPANCY      LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
---------    --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                       
Primary         4,448    967,884,938       96.78     8.825       644      217,600     85.09     43.17    77.76     5.02
Investment        237     28,976,720        2.90     8.549       673      122,265     81.66     39.44    87.69    11.99
Second Home        13      3,266,065        0.33     9.050       659      251,236     89.50     33.68   100.00     0.00
                -----  -------------      ------     -----       ---      -------     -----     -----   ------    -----
TOTAL:          4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                =====  =============      ======     =====       ===      =======     =====     =====   ======    =====

The information set forth above with respect to occupancy is based upon         
representations of the related mortgagors at the time of origination.           

MORTGAGE LOANS AGE SUMMARY                                                      

                                                        [Enlarge/Download Table]

                                AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
MORTGAGE LOANS AGE  MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
(MONTHS)              LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
------------------  --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                              
0                      2,303    486,358,415       48.63     8.879       647      211,185     85.68     43.16    75.66     4.60
1                      2,294    482,594,505       48.25     8.824       642      210,372     84.55     42.94    81.34     3.93
2                          1      1,199,843        0.12     7.900       601    1,199,843     80.00     54.00   100.00     0.00
3                         10      1,788,002        0.18     8.167       661      178,800     82.40     45.35    42.16     4.75
4                         12      5,614,170        0.56     7.949       645      467,847     81.69     42.99    66.30    27.70
5                         48     14,210,907        1.42     7.443       670      296,061     80.86     38.95    76.63    43.47
6                         12      2,593,475        0.26     7.870       651      216,123     79.01     47.62    56.17    55.71
7                         18      5,768,405        0.58     8.249       650      320,467     84.10     45.18    47.74    24.88
                       -----  -------------      ------     -----       ---    ---------     -----     -----   ------    -----
TOTAL:                 4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                       =====  =============      ======     =====       ===    =========     =====     =====   ======    =====

As of the Cut-off Date, the weighted average age of the Mortgage Loans was      
approximately 1 months.                                                         

ORIGINAL PREPAYMENT PENALTY TERM                                                

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                      NUMBER     PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                        OF        BALANCE     PERCENT OF   AVERAGE  AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
ORIGINAL PREPAYMENT  MORTGAGE   OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
PENALTY TERM           LOANS        ($)        POOL (%)      (%)     SCORE        ($)      LTV (%)      (%)    DOC (%)  IO (%) 
-------------------  --------  -------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
None                    1,218    284,465,935       28.44     9.139       646      233,552     85.54     42.42    75.58     6.56
12 Months                 285     76,476,217        7.65     9.041       650      268,338     84.80     43.66    70.05     6.56
24 Months               1,962    428,765,350       42.87     8.653       645      218,535     85.05     43.55    81.91     3.94
36 Months               1,233    210,420,221       21.04     8.639       641      170,657     84.27     42.60    76.76     5.44
                        -----  -------------      ------     -----       ---      -------     -----     -----    -----     ----
TOTAL:                  4,698  1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                        =====  =============      ======     =====       ===      =======     =====     =====    =====     ====

The weighted average prepayment penalty term at origination with respect to the 
Mortgage Loans having prepayment penalties is approximately 26 months.          

FWP 77th Page of 79 TOC 1st Previous Next ↓Bottom Just 77th
CREDIT SCORES                                                                   

                                                        [Enlarge/Download Table]

                            AGGREGATE                                      AVERAGE              WEIGHTED                  
                NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                  OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF       MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
CREDIT SCORES    LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
-------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                          
526 to 550          112      13,688,728        1.37     9.579       545      122,221     78.03     40.82    90.41     0.00
551 to 575          343      48,052,177        4.80     9.410       565      140,094     82.87     40.49    88.99     3.65
576 to 600          597      91,869,329        9.19     9.422       589      153,885     86.85     40.97    83.30     1.76
601 to 625          943     185,034,188       18.50     9.131       615      196,219     85.68     42.96    78.25     3.27
626 to 650        1,088     231,325,270       23.13     9.135       638      212,615     85.65     43.95    75.85     2.40
651 to 675          851     213,668,295       21.36     8.548       662      251,079     84.59     43.84    76.30     6.59
676 to 700          425     114,048,414       11.40     8.143       687      268,349     84.36     41.84    74.26    11.53
701 to 725          186      55,261,307        5.53     7.965       710      297,104     84.72     45.57    78.45     6.04
726 to 750           75      22,940,060        2.29     7.878       737      305,867     83.74     43.26    86.00    10.98
751 to 775           50      15,626,871        1.56     7.937       763      312,537     82.52     41.54    83.15    24.29
776 to 800           23       7,770,583        0.78     7.850       783      337,851     84.71     43.34    63.50     0.00
801 to 809            5         842,500        0.08     7.976       804      168,500     87.37     22.98    77.12    20.30
                  -----   -------------      ------     -----       ---      -------     -----     -----    -----    -----
TOTAL:            4,698   1,000,127,722      100.00     8.818       645      212,884     85.01     43.03    78.12     5.20
                  =====   =============      ======     =====       ===      =======     =====     =====    =====    =====

The Credit Scores of the Mortgage Loans that were scored as of the Cut-off Date 
ranged from 540 to 808 and the weighted average Credit Score of the Mortgage    
Loans that were scored as of the Cut-off Date was approximately 645.            

CREDIT GRADE                                                                    

                                                        [Enlarge/Download Table]

                     AGGREGATE                                      AVERAGE              WEIGHTED                  
         NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
           OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
CREDIT  MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
GRADE     LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                   
0                                                                                                                  

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GROSS MARGINS                                                                   
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                               AGGREGATE                                       AVERAGE              WEIGHTED                  
                   NUMBER      PRINCIPAL                WEIGHTED   WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                     OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE     BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF          MORTGAGE    OUTSTANDING    MORTGAGE    COUPON     CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
GROSS MARGINS       LOANS         ($)        POOL (%)      (%)      SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
-------------     --------  --------------  ----------  --------  ---------  -----------  --------  --------  -------  -------
                                                                                                                              
2.501% to 3.000%        27      16,051,193        1.92     7.381  696.13603      594,489     80.04     35.61    85.97    35.64
4.001% to 4.500%         5         605,700        0.07     9.137        629      121,140     75.26     29.20   100.00     0.00
4.501% to 5.000%        29       7,605,568        0.91     8.961        623      262,261     85.68     44.10    61.85    11.81
5.001% to 5.500%     1,683     424,326,897       50.77     8.356        655      252,125     78.66     44.23    84.36     5.57
5.501% to 6.000%       797     177,664,732       21.26     8.693        624      222,917     88.49     42.38    66.38     2.71
6.001% to 6.500%       905     209,537,735       25.07     9.684        646      231,533     96.23     43.63    74.09     3.22
                     -----     -----------      ------     -----  ---------      -------     -----     -----   ------    -----
TOTAL:               3,446     835,791,824      100.00     8.748        647      242,540     85.24     43.51    77.80     5.00
                     =====     ===========      ======     =====  =========      =======     =====     =====   ======    =====

As of the Cut-off Date, the Gross Margin for the Adjustable Rate Mortgage Loans 
ranged from 2.750% per annum to 6.400% per annum and the weighted average Gross 
Margin of the Adjustable Rate Mortgage Loans was approximately 5.700% per annum.

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MAXIMUM MORTGAGE RATES                                                          
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                                 AGGREGATE                                      AVERAGE              WEIGHTED                  
                     NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                       OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
RANGE OF MAXIMUM    MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
MORTGAGE RATES        LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
----------------    --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                               
11.500% or less            1         823,138        0.10     5.350       702      823,138     62.26     52.00   100.00     0.00
11.501% to 12.000%         2         236,500        0.03     5.885       711      118,250     34.29     29.92   100.00     0.00
12.001% to 12.500%        23       8,757,200        1.05     6.370       701      380,748     75.51     39.41    78.09    38.49
12.501% to 13.000%        97      31,373,468        3.75     6.826       687      323,438     78.58     43.77    73.39    10.85
13.001% to 13.500%       207      66,343,270        7.94     7.331       675      320,499     79.66     44.51    79.64    11.47
13.501% to 14.000%       453     131,509,712       15.73     7.818       662      290,308     82.68     44.43    74.61     6.26
14.001% to 14.500%       495     137,542,051       16.46     8.295       650      277,863     82.81     44.28    76.59     4.20
14.501% to 15.000%       617     144,997,948       17.35     8.776       641      235,005     85.01     43.03    80.40     2.14
15.001% to 15.500%       553     119,985,300       14.36     9.286       635      216,972     86.38     43.35    76.87     3.87
15.501% to 16.000%       523     105,173,114       12.58     9.763       627      201,096     89.49     43.01    77.08     3.20
16.001% to 16.500%       206      38,250,977        4.58    10.295       624      185,684     91.99     41.08    87.24     0.76
16.501% to 17.000%       125      23,680,844        2.83    10.771       626      189,447     93.56     41.21    78.98     8.33
17.001% to 17.500%        65      11,475,661        1.37    11.300       625      176,549     97.23     41.57    84.15     0.00
17.501% to 18.000%        50       9,022,275        1.08    11.761       636      180,446     99.46     46.16    75.07     0.62
18.001% to 18.500%        23       4,662,900        0.56    12.326       630      202,735     99.86     44.89    57.68     0.00
18.501% to 19.000%         5       1,898,465        0.23    12.683       631      379,693     99.84     49.12   100.00     0.00
19.001% to 19.500%         1          59,000        0.01    13.050       633       59,000    100.00     20.00   100.00     0.00
                       -----     -----------      ------    ------       ---      -------    ------     -----   ------    -----
TOTAL:                 3,446     835,791,824      100.00     8.748       647      242,540     85.24     43.51    77.80     5.00
                       =====     ===========      ======    ======       ===      =======    ======     =====   ======    =====

As of the Cut-off Date, the Maximum Mortgage Rates for the Adjustable Rate      
Mortgage Loans ranged from 11.350% per annum to 19.050% per annum and the       
weighted average Maximum Mortgage Rate of the Adjustable Rate Mortgage Loans was
approximately 14.748% per annum.                                                

NEXT RATE ADJUSTMENT DATE                                                       
(EXCLUDES FIXED RATE MORTGAGE LOANS)                                            

                                                        [Enlarge/Download Table]

                              AGGREGATE                                      AVERAGE              WEIGHTED                  
                  NUMBER      PRINCIPAL                WEIGHTED  WEIGHTED   PRINCIPAL   WEIGHTED   AVERAGE                  
                    OF         BALANCE     PERCENT OF   AVERAGE   AVERAGE    BALANCE     AVERAGE  DEBT-TO-  PERCENT         
NEXT RATE        MORTGAGE    OUTSTANDING    MORTGAGE    COUPON    CREDIT   OUTSTANDING  ORIGINAL   INCOME     FULL   PERCENT
ADJUSTMENT DATE    LOANS         ($)        POOL (%)      (%)     SCORE        ($)       LTV (%)     (%)    DOC (%)   IO (%)
---------------  --------  --------------  ----------  --------  --------  -----------  --------  --------  -------  -------
                                                                                                                            
November 2007           3         681,600        0.08     7.426       674      227,200     80.00     47.60   100.00    35.80
December 2007           8       2,212,908        0.26     8.800       634      276,614     79.49     43.48    82.60    29.56
May 2008                9       1,699,278        0.20     8.876       651      188,809     81.60     39.61    85.12     0.00
June 2008               7       1,673,020        0.20     9.022       683      239,003     88.77     29.96   100.00     0.00
November 2008           9       2,022,844        0.24     8.440       642      224,760     89.85     46.45    42.18    10.61
December 2008           7       2,049,374        0.25     7.533       663      292,768     77.62     48.29    44.53    70.50
January 2009           20       6,075,116        0.73     7.475       663      303,756     82.73     41.20    69.46    51.18
February 2009           8       4,197,382        0.50     7.740       659      524,673     80.63     42.18    69.88    33.83
March 2009              1         287,489        0.03     8.650       682      287,489     80.00     38.00     0.00     0.00
May 2009            1,395     332,176,497       39.74     8.815       643      238,119     84.98     43.57    81.88     3.37
June 2009           1,403     332,270,035       39.76     8.873       647      236,828     86.11     43.61    77.17     3.63
November 2009           6       3,047,125        0.36     8.024       670      507,854     80.27     44.14    43.28    20.97
December 2009           1         101,209        0.01     7.400       593      101,209     80.00     45.00   100.00     0.00
January 2010           13       5,230,622        0.63     7.176       673      402,356     79.11     39.05    74.93    44.48
February 2010           2       1,141,243        0.14     8.143       601      570,621     83.60     46.46    57.32     0.00
March 2010              2         771,715        0.09     7.010       646      385,858     76.90     44.58    40.41     0.00
April 2010              1       1,199,843        0.14     7.900       601    1,199,843     80.00     54.00   100.00     0.00
May 2010              257      62,543,850        7.48     8.503       648      243,361     84.44     43.47    75.74     4.74
June 2010             241      61,797,774        7.39     8.469       652      256,422     84.97     43.22    64.95     6.65
May 2011                1         458,800        0.05     9.750       631      458,800     80.00     48.00   100.00     0.00
November 2011           1         238,500        0.03     8.600       663      238,500     90.00     37.00   100.00   100.00
January 2012            1          57,833        0.01     7.700       605       57,833     64.44     26.00   100.00     0.00
May 2012               24       7,289,741        0.87     8.574       654      303,739     84.08     45.27    91.69    11.66
June 2012              26       6,568,025        0.79     8.547       656      252,616     84.99     41.97    74.29     5.11
                    -----     -----------      ------     -----       ---    ---------     -----     -----   ------   ------
TOTAL:              3,446     835,791,824      100.00     8.748       647      242,540     85.24     43.51    77.80     5.00
                    =====     ===========      ======     =====       ===    =========     =====     =====   ======   ======

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘FWP’ Filing	Date	First	Last	Other Filings

	6/26/07	6		424B5, 8-K
	6/15/07	6		FWP
Filed on:	6/14/07	1	3
	6/1/07	6	8
				List all Filings

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Filing Submission 0000950123-07-008675 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4 – ‘FWP’ on 6/14/07 re: Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4

On: Thursday, 6/14/07, at 1:34pm ET · Accession #: 950123-7-8675 · File #: 333-140436-18

Previous ‘FWP’: ‘FWP’ on 6/12/07 · Next: ‘FWP’ on 6/15/07 · Latest: ‘FWP’ on 11/2/07

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