Yield Considerations An investor seeking to maximize yield should make a decision whether to invest in any Class  based  on  the  anticipated  yield  of  that  Class  resulting  from  its  purchase  price,  the investor's own projection of Mortgage Loan prepayment rates under a variety of scenarios, in the case of the Group 2, 6 and 7 Securities, the investor's own projection of principal payment rates on the Underlying Certificates under a variety of scenarios and, in the case of a Floating Rate or an Interest Only Inverse Floating Rate Class, the investor's own projection of levels of LIBOR under a variety of scenarios. No representation is made regarding Mortgage Loan prepay- ment rates, Underlying Certificate payment rates,  LIBOR levels or the yield of any Class. Prepayments : Effect on Yields The yields to investors will be sensitive in varying degrees to the rate of prepayments on the related Mortgage Loans. •   In the case of Regular Securities or MX Securities purchased at a premium (especially Interest Only Classes) faster than anticipated rates of principal payments could result in actual yields to investors that are lower than the anticipated yields. •   Investors in the Interest Only Classes should also consider the risk that rapid rates of principal  payments  could  result  in  the  failure  of  investors  to  recover  fully  their investments. •   In the case of Regular Securities or MX Securities purchased at a discount (especially Principal Only Classes), slower than anticipated rates of principal payments could result in actual yields to investors that are lower than the anticipated yields. See  "Risk  Factors – Rates  of  principal  payments  can  reduce  your  yield"  in  this Supplement. Rapid rates of prepayments on the Mortgage Loans are likely to coincide with periods of low prevailing interest rates. During periods of low prevailing interest rates, the yields at which an investor may be able to reinvest amounts received as principal payments on the investor's Class of Securities may be lower than the yield on that Class. Slow rates of prepayments on the Mortgage Loans are likely to coincide with periods of high prevailing interest rates. During periods of high prevailing interest rates, the amount of principal payments available to an investor for reinvestment at those high rates may be relatively low. The Mortgage Loans will not prepay at any constant rate until maturity, nor will all of the Mortgage Loans underlying any Trust Asset Group prepay at the same rate at any one time. The timing of changes in the rate of prepayments may affect the actual yield to an investor, even if the  average  rate  of  principal  prepayments  is  consistent  with  the  investor's  expectation.  In general, the earlier a prepayment of principal on the Mortgage Loans, the greater the effect on an  investor's  yield.  As  a  result,  the  effect  on  an  investor's  yield  of  principal  prepayments occurring at a rate higher (or lower) than the rate anticipated by the investor during the period immediately following the Closing Date is not likely to be offset by a later equivalent reduction (or increase) in the rate of principal prepayments. S-31