Issuance of Securities:
The Securities, other than the Residual Securities, will initially be
issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the
"Fedwire Book-Entry System"). The Residual Securities will be issued in fully registered,
certificated form. See "Description of the Securities – Form of Securities" in this Supplement.
Increased Minimum Denomination Class:
Class IO. See "Description of the Securities –
Form of Securities" in this Supplement.
Interest Rates:
The Interest Rate for the Fixed Rate Class is shown on the front cover of this
Supplement.
The Weighted Average Coupon Classes will bear interest at per annum Interest Rates based
on either the Weighted Average Certificate Rate of the Group 1 Ginnie Mae Multifamily
Certificates ("Group 1 WACR") or the weighted average of the interest rates of the Underlying
Group 2 Certificates ("Group 2 WACR") as follows:
Class B will bear interest during each Accrual Period at a per annum rate equal to the lesser
of 5.140% and Group 1 WACR.
Class C will bear interest during each Accrual Period at a per annum rate equal to the lesser
of 5.278% and Group 1 WACR.
Class Z will bear interest during each Accrual Period at a per annum rate equal to the lesser
of 4.557% and Group 1 WACR.
Class IO will bear interest during each Accrual Period at a rate per annum equal to Group 1
WACR less the weighted average of the applicable Interest Rate for Classes A, B, C and Z for that
Accrual Period, weighted based on the Class Principal Balance of each such Class on the related
Distribution Date (before giving effect to any payments on such Distribution Date).
Class KA will bear interest during each Accrual Period at a per annum rate equal to the
Group 2 WACR.
Class KB will bear interest during each Accrual Period at a per annum rate equal to the
Group 2 WACR.
Class KC will bear interest during each Accrual Period at a per annum rate equal to the
Group 2 WACR.
The Weighted Average Coupon Classes will bear interest during the initial Accrual Period
at the following approximate Interest Rates:
Class
Approximate
Initial
Interest Rate
B ..................................................................................................................
5.140%
C ..................................................................................................................
5.278
Z ..................................................................................................................
4.557
IO ................................................................................................................
1.131
KA ................................................................................................................
4.496
KB................................................................................................................
4.496
KC................................................................................................................
4.496
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