Distribution Date
0% 5% 15% 25% 40%
0% 5% 15% 25% 40%
Class IO
Class Z
CPR Prepayment Assumption Rates
Initial Percent . . . . . . . 100 100 100 100 100 100 100 100 100 100
May 2009 . . . . . . . . . . .
97
96
94 92 88 105 105 105 105 105
May 2010 . . . . . . . . . . .
93
90
83 76 67 109 109 109 109 109
May 2011 . . . . . . . . . . .
90
83
69 57 42 114 114 114 114 114
May 2012 . . . . . . . . . . .
87
76
57 42 26 120 120 120 120 120
May 2013 . . . . . . . . . . .
84
70
48 32 16 125 125 125 125 125
May 2014 . . . . . . . . . . .
81
64
39 23 10 131 131 131 131 131
May 2015 . . . . . . . . . . .
79
59
32 17 6 137 137 137 137 137
May 2016 . . . . . . . . . . .
77
55
27 12 4 143 143 143 143 128
May 2017 . . . . . . . . . . .
75
51
22 9 2 150 150 150 150 80
May 2018 . . . . . . . . . . .
72
47
18 7 1 157 157 157 157 49
May 2019 . . . . . . . . . . .
70
43
15 5 1 164 164 164 164 29
May 2020 . . . . . . . . . . .
68
39
12 4 0 171 171 171 128 17
May 2021 . . . . . . . . . . .
65
36
10 3 0 179 179 179 93 10
May 2022 . . . . . . . . . . .
63
33
8 2 0 188 188 188 67 6
May 2023 . . . . . . . . . . .
60
30
7 1 0 196 196 196 49 3
May 2024 . . . . . . . . . . .
57
27
6 1 0 205 205 201 35 2
May 2025 . . . . . . . . . . .
55
25
5 1 0 215 215 163 25 1
May 2026 . . . . . . . . . . .
52
22
4 0 0 224 224 132 18 1
May 2027 . . . . . . . . . . .
49
20
3 0 0 235 235 106 13 0
May 2028 . . . . . . . . . . .
46
18
2 0 0 246 246 85
9
0
May 2029 . . . . . . . . . . .
43
16
2 0 0 257 257 68
6
0
May 2030 . . . . . . . . . . .
40
14
1 0 0 269 269 54
4
0
May 2031 . . . . . . . . . . .
37
12
1 0 0 281 281 42
3
0
May 2032 . . . . . . . . . . .
34
11
1 0 0 294 294 33
2
0
May 2033 . . . . . . . . . . .
31
9
1 0 0 307 307 25
1
0
May 2034 . . . . . . . . . . .
27
8
1 0 0 321 286 19
1
0
May 2035 . . . . . . . . . . .
24
7
0 0 0 336 241 15
1
0
May 2036 . . . . . . . . . . .
21
6
0 0 0 352 200 11
0
0
May 2037 . . . . . . . . . . .
18
4
0 0 0 368 163
8
0
0
May 2038 . . . . . . . . . . .
15
4
0 0 0 385 128
5
0
0
May 2039 . . . . . . . . . . .
13
3
0 0 0 402 102
4
0
0
May 2040 . . . . . . . . . . .
10
2
0
0
0
371
78
3
0
0
May 2041 . . . . . . . . . . .
8
2
0
0
0
274
55
2
0
0
May 2042 . . . . . . . . . . .
5
1
0
0
0
176
33
1
0
0
May 2043 . . . . . . . . . . .
2
0
0
0
0
87
16
0
0
0
May 2044 . . . . . . . . . . .
2
0
0
0
0
66
11
0
0
0
May 2045 . . . . . . . . . . .
1
0
0
0
0
45
7
0
0
0
May 2046 . . . . . . . . . . .
1
0
0
0
0
21
3
0
0
0
May 2047 . . . . . . . . . . .
0
0
0
0
0
5
1
0
0
0
May 2048 . . . . . . . . . . .
0
0
0
0
0
0
0
0
0
0
Weighted Average
Life (years). . . . . . . . . 18.0 11.3 6.2 4.3 3.1 34.1 29.7 20.3 14.3 9.8
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 and the investor’s own projection
of Mortgage Loan prepayment rates under a variety of scenarios. No representation is made
regarding Mortgage Loan prepayment rates 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
Mortgage Loans.
• In the case of Regular Securities purchased at a premium (especially the Interest Only Class),
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 Class 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 purchased at a discount, 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.
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