Sequoia Mortgage Trust 2013-1
Mortgage Pass-Through Certificates, Series 2013-1
PRELIMINARY TERM SHEET
RWT Holdings, Inc.
Sponsor
Redwood Residential Acquisition Corporation
Seller
Sequoia Residential Funding, Inc.
Depositor
Sequoia Mortgage Trust 2013-1
Issuing Entity
$390,321,000 (Approximate)
Preliminary Term Sheet
January 7, 2013
Christiana Trust, a division of Wilmington Savings Fund Society, FSB
Trustee
Wells Fargo Bank, N.A.
Master Servicer and Securities Administrator
Barclays Capital Inc.
Underwriter and Lead Manager and Sole Bookrunner
This is an indicative Term Sheet. All terms and statements are subject to change. |
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STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES, AND
OTHER INFORMATION
The depositor has filed a registration statement (including a prospectus and a form of prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and a form of prospectus supplement in that registration statement and other documents the depositor has filed with the SEC for important information about the depositor and this offering. You may get these documents for free by visiting EDGAR on the SEC’s website atwww.sec.gov. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-888-603-5847 or by e-mailing barclaysprospectus@broadridge.com.
The registration statement to which this offering relates is Commission File Numbers 333-179292 and 333-179292-01. This free writing prospectus is not required to, and does not, contain all information that is required to be included in the base prospectus and the prospectus supplement that will be prepared for the securities offering to which this free writing prospectus relates. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
The information in this free writing prospectus is preliminary, and may be superseded by an additional free writing prospectus provided to you prior to the time you enter into a contract of sale. This preliminary free writing prospectus is being delivered to you solely to provide you with information about the offering of the securities referred to herein. The securities are being offered when, as and if issued. In particular, you are advised that these securities, and the asset pool backing them, are subject to modification or revision (including, among other things, the possibility that one or more classes of securities may be split, combined or eliminated), at any time prior to issuance or availability of a final prospectus. As a result, you may commit to purchase securities that have characteristics that may change, and you are advised that all or a portion of the securities may not be issued that have the characteristics described in these materials. Our obligation to sell securities to you is conditioned on the securities and the underlying transaction having the characteristics described in these materials. A contract of sale will come into being no sooner than the date on which the relevant class has been priced and we have confirmed the allocation of securities to be made to you; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us. You may withdraw your offer to purchase securities at any time prior to our acceptance of your offer.
The investment described in this free writing prospectus is a structured financial product. These securities are complex instruments intended for sale only to sophisticated investors who understand and assume the risks involved with the purchase thereof. The risks associated with the securities may significantly reduce an investor's expected yield and expected return of principal, and/or reduce an investor's ability to sell or obtain market value information about the securities. Investors should independently evaluate the risks associated with the securities and consult their own professional advisors. These risks may include, but may not be limited to:
· | The performance of the collateral may be correlated to economic or other factors that may diminish the value of the securities. |
· | The performance of the collateral and the value of the securities may be largely dependent on the quality of the origination and servicing of the collateral. |
· | Ratings issued on the securities by rating agencies may fail to predict the risks associated with the securities, and may be reduced or withdrawn by the rating agencies without warning. |
· | The value of the securities may be diminished by market conditions unrelated to the performance of the securities. |
None of the issuing entity, the depositor, or any of its affiliates prepared, provided, approved, or verified any statistical or numerical information presented herein, although that information may be based in part on loan level data provided by the issuing entity, the depositor, or its affiliates.
Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached stating that (1) these materials do not constitute an offer (or a solicitation of an offer), (2) the issuing entity, the depositor or the underwriter makes no representation that these materials are accurate or complete and may not be updated or (3) these materials possibly are confidential, are not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Offered Certificates: $390,321,000 (Approximate)
Class | Expected Initial Class Principal Amount ($)(1) | Expected Ratings (Fitch/KBRA/ Moody’s) | Approx. Initial Interest Rate (%) | Expected Mat. (Years)(1) | Expected Prin. Window Mat. (Months)(1) |
Expected Initial Credit Enhancement |
Minimum Denom. or Percentage Interest | Class Type |
1-A1 | 151,646,000 | AAAsf/AAA(sf)Aaa(sf) | [ ] (2) | 3.91 | 2/13-11/26 | 7.30% | $100,000 | Pool 1 Senior |
1-AX (6) | 151,646,000 | AAAsf/AAA(sf)/Aaa(sf) | [ ](3) | N/A | N/A | N/A | $1,000,000 | Pool 1 Notional/Senior |
2-A1 | 217,189,000 | AAAsf/AAA(sf)/Aaa(sf) | [ ](4) | 4.84 | 2/13-10/32 | 7.30% | $100,000 | Pool 2 Senior |
2-AX(7) | 217,189,000 | AAAsf/AAA(sf)/Aaa(sf) | [ ](5) | N/A | N/A | N/A | $1,000,000 | Pool 2 Notional/Senior |
B-1 | 10,146,000 | AAsf/NR/NR | 3.715(8) | 7.90 | 2/13-11/26 | 4.75% | $100,000 | Crossed Sub. |
B-2 | 6,764,000 | Asf/NR/NR | 3.715(8) | 7.90 | 2/13-11/26 | 3.05% | $100,000 | Crossed Sub. |
B-3 | 4,576,000 | BBBsf/NR/NR | 3.715(8) | 7.90 | 2/13-11/26 | 1.90% | $100,000 | Crossed Sub. |
Non-Offered Certificates
Class | Expected Initial Class Principal Amount ($)(1) | Expected Ratings (Fitch/KBRA/ Moody’s) | Approximate Initial Interest Rate (%) | Expected WAL Mat. (Years)(1) | Expected Prin. Window Mat. (Months)(1) |
Expected Initial Credit Enhancement |
Minimum Denomination or Percentage Interest | Class Type |
B-4 | 3,382,000 | BBsf/NR/NR | 3.715(8) | Crossed Sub. | ||||
B-5 | 4,178,279 | NR/NR/NR | 3.715(8) | Not Offered Hereby | Crossed Sub. | |||
R | 0 | NR/NR/NR | N/A | Residual | ||||
LT-R | 0 | NR/NR/NR | N/A | Residual |
Information is preliminary and subject to final collateral and legal review. The analyses, calculations and valuations herein are based on certain assumptions and data provided by third parties that may vary from the actual characteristics of the final collateral. Investors should rely on the information contained in the final prospectus supplement.
(1) | The principal amounts and notional amounts presented in this term sheet are approximate and subject to a +/- 5% variance. Weighted average lives and principal windows with respect to the Offered Certificates assume prepayments occur at the pricing speed of 15% CPR for the fixed rate mortgage loans and 15% CPB for the hybrid mortgage loans, calculated from the Expected Investor Settlement Date, assuming the Offered Certificates pay on the 25th of the each month beginning in February 2013 and the clean-up call is not exercised. |
(2) | The interest rate on the Class 1-A1 Certificates will be an annual rate equal to the lesser of (i) [ ]% and (ii) the Net WAC for Pool 1 for such distribution date. |
(3) | The interest rate on the Class 1-AX Certificates will be an annual rate equal to the excess, if any, of the Net WAC for Pool 1 over approximately [ ]%. |
(4) | The interest rate on the Class 2-A1 Certificates will be an annual rate equal to the lesser of (i) [ ]% and (ii) the Net WAC for Pool 2 for such distribution date. |
(5) | The interest rate on the Class 2-AX Certificates will be an annual rate equal to the excess, if any, of the related Net WAC for Pool 2 over [ ]%. |
(6) | Notional amount. The Class 1-AX Certificates will not be entitled to distributions of principal. The Class 1-AX Certificates will accrue interest on a notional amount equal to the class principal amount of the Class 1-A1 Certificates immediately prior to such distribution date. |
(7) | Notional amount. The Class 2-AX Certificates will not be entitled to distributions of principal. The Class 2-AX Certificates will accrue interest on a notional amount equal to the class principal amount of the Class 2-A1 Certificates immediately prior to such distribution date. |
(8) | The Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates will each bear interest at a variable pass-through rate equal to the weighted average of the Net WAC applicable to each pool, weighted based on the Pool Subordinate Amount of each pool. The initial interest rate for the Subordinate Certificates with respect to the first distribution date is approximately 3.715% per annum. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Issuer | Sequoia Mortgage Trust 2013-1 | |
Title of Series | Sequoia Mortgage Pass-Through Certificates, Series 2013-1 | |
Sponsor | RWT Holdings, Inc. | |
Seller | Redwood Residential Acquisition Corporation | |
Depositor | Sequoia Residential Funding, Inc. | |
Trustee | Christiana Trust, a division of Wilmington Savings Fund Society, FSB | |
Securities Administrator, Paying Agent, Certificate Registrar, and Authenticating Agent | Wells Fargo Bank, N.A. | |
Servicing Administrator | With respect to the mortgage loans serviced by Cenlar FSB, Redwood Residential Acquisition Corporation. | |
Master Servicer | Wells Fargo Bank, N.A. | |
Servicers | Pool 1: Everbank, approximately 74.05%; Cenlar FSB, approximately 17.73%; First Republic Bank, approximately 5.77%; PHH Mortgage Corporation, approximately 2.45%. | |
Pool 2: Cenlar FSB, approximately 80.19%; EverBank, approximately 10.94%; First Republic Bank, approximately 7.91%; PHH Mortgage Corporation, approximately 0.96%. | ||
Redwood Residential Acquisition Corporation will act as Servicing Administrator with respect to the mortgage loans serviced by Cenlar FSB. | ||
Originators | Pool 1: Everbank, approximately 74.05%; PrimeLending, a PlainsCapital Company, approximately 7.30%; First Republic Bank, approximately 5.77% | |
Pool 2: Everbank, approximately 10.94%; Fremont Bank, approximately 9.32%; Rockland Trust Company, approximately 9.07%; Flagstar Capital Markets Corporation, approximately 7.94%; First Republic Bank, approximately 7.91%. | ||
The remainder of the mortgage loans were originated by various mortgage lending institutions, each of which originated less than 5% of the mortgage loans for each respective pool. | ||
Custodian | Wells Fargo Bank, N.A. | |
Controlling Holder | At any time, the holder of the majority of the Class Principal Amount of the Class B-5 Certificates or, if the Class Principal Amount of the Class B-5 Certificates is zero, the holder of the majority of the Class Principal Amount of the Class B-4 Certificates, and may not be the depositor or the seller but may be the sponsor or an affiliate of the sponsor. If the Class Principal Amount of the Class B-4 Certificates is zero, then there is no longer a Controlling Holder. | |
Ratings | In preparing for the offering, the sponsor engaged Fitch Ratings (“Fitch”), Kroll Bond Rating Agency, Inc. (“KBRA”) and Moody’s Investors Service (“Moody’s”) to rate the Offered Certificates. Accordingly, the sponsor executed an engagement letter with Fitch, KBRA and Moody’s setting forth the terms on which each of Fitch, KBRA and Moody’s would provide such ratings. | |
Fitch, KBRA and Moody’s will rate one or more classes of the Offered Certificates. It is expected that the Class 1-A1, Class 2-A1, Class 1-AX and Class 2-AX Certificates will be assigned the credit ratings from Fitch, KBRA and Moody’s on page 3 of this Term Sheet and the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates will be assigned the credit ratings from Fitch on page 3 of this Term Sheet. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Cut-off Date | The close of business on January 1, 2013. |
Expected Closing Date | On or about January 15, 2013. |
Expected Investor Settlement Date | On or about January 15, 2013. |
Distribution Dates | The 25th day of each month or if not a business day, the next succeeding business day, commencing in February 2013. |
Accrual Period | For each Distribution Date, the calendar month preceding such Distribution Date, calculated on a 30/360 basis. |
Residual Certificates | The Class R Certificates and Class LT-R Certificates. |
Senior Certificates | The Class 1-A1, Class 2-A1, Class 1-AX and Class 2-AX Certificates. |
Subordinate Certificates | The Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates. |
Offered Certificates | The Class 1-A1, Class 2-A1, Class 1-AX, Class 2-AX, Class B-1, Class B-2 and Class B-3 Certificates will be offered. |
Non-offered Certificates | The Class B-4, Class B-5, Class R and Class LT-R Certificates will not be offered. |
Pool 1 Certificates | The Class 1-A1 and Class 1-AX Certificates. |
Pool 2 Certificates | The Class 2-A1 and Class 2-AX Certificates. |
The Mortgage Loans | Pool 1: 99 hybrid mortgage loans and 120 fixed rate mortgage loans. Of the hybrid mortgage loans, 15 mortgage loans, representing approximately 7.94% of the Pool 1 mortgage loans, generally provide for interest at a fixed rate during an initial period of five years from their origination and at an adjustable rate thereafter. 1 mortgage loan, representing approximately 0.62% of the Pool 1 mortgage loans, generally provide for interest at a fixed rate during an initial period of seven years from their origination and at an adjustable rate thereafter. 83 mortgage loans, representing approximately 42.60% of the Pool 1 mortgage loans, generally provide for interest at a fixed rate during an initial period of ten years from their origination and at an adjustable rate thereafter. |
Of the fixed rate mortgage loans, 114 mortgage loans, representing approximately 46.43% of the Pool 1 mortgage loans, have an original term to maturity of 15 years. 6 mortgage loans, representing approximately 2.42% of the Pool 1 mortgage loans, have an original term maturity of 10 years. | |
20 mortgage loans in Pool 1 (representing approximately 12.23% of the Pool 1 mortgage loans) provide for payments of interest at the related mortgage rate, but no payments of principal, for a period of ten years following their origination. | |
Pool 2: 292 fixed rate mortgage loans. 291 mortgage loans, representing approximately 99.67% of the Pool 2 mortgage loans, have an original term to maturity of 30 years. 1 mortgage loan, representing approximately 0.33% of the Pool 2 mortgage loans, have an original term to maturity of 20 years. | |
All of the mortgage loans are secured by first liens on one- to four-family residential properties, condominiums, cooperative units and planned unit developments. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Approximately 0.80% and 6.04% of the mortgage loans require prepayment charges if, during the first four or first five years, as applicable, after the origination of the mortgage loan, either (a) the mortgage loan is prepaid in full or (b) the total of all prepayments during any twelve month period exceeds twenty percent (20%) of the original principal balance of the mortgage loan. The amount of the prepayment charge is equal to the lesser of (i) a range of one-half percent to one percent (0.5%-1%) of the principal balance of the mortgage loan immediately prior to the prepayment or (ii) six months’ advance interest on the amount prepaid that exceeds the allowable twenty percent of the original principal balance, calculated at the interest rate in effect on the date of prepayment. Prepayment charges will not be allocable to certificateholders. | |
Fees and Expenses | Before distributions are made on the certificates, a monthly fee calculated as 0.25% (or in the case of the hybrid mortgage loans serviced by PHH Mortgage Corporation, 0.375%) annually on the principal balance of the related mortgage loans will be paid to the Servicers (“Servicing Fee”), provided that in the case of mortgage loans serviced by Cenlar FSB, such fee will be allocated between Cenlar FSB and the Servicing Administrator. The Master Servicer will be paid a monthly fee (“Master Servicing Fee”) calculated as 0.02125% annually on the principal balance of the mortgage loans. The servicing, master servicing and servicing administrator fees will be deducted by each Servicer and the Master Servicer from interest collections, including liquidation proceeds and other proceeds from the mortgage loans, prior to remittance of funds to certificateholders. The Securities Administrator will be entitled to income earned on amounts on deposit in the distribution account. The Master Servicer will pay the fees of the Trustee, the Custodian and the Securities Administrator. The Master Servicer, the Securities Administrator, the Trustee and the Custodian will also be entitled to reimbursement of certain expenses from the issuing entity before payments are made on the certificates, subject to an aggregate annual cap of $300,000; provided that, in no event will the aggregate amount reimbursable to the Trustee exceed $125,000 annually. |
Net Mortgage Rate | With respect to any mortgage loan and Distribution Date, the related mortgage rate as of the due date in the month preceding the month of such Distribution Date, reduced by the Master Servicing Fee and Servicing Fee. |
Net WAC | With respect to each mortgage pool, an annual rate, expressed as a percentage, equal to the weighted average of the Net Mortgage Rates of the related mortgage loans minus (a) a fraction, the numerator of which equals the amount of any fees, charges and other costs allocable to the related mortgage pool or, if such costs are not allocable to a specific mortgage pool, a pro rata portion of such fees, charges and other costs based on the aggregate stated principal balance of the mortgage loans in the related mortgage pool, including indemnification amounts and costs of arbitration (other than the Master Servicing Fee and amounts required to be paid by the Master Servicer from the Master Servicing Fee) paid or reimbursed to the Master Servicer, the Securities Administrator and the Trustee from the Trust Fund under the pooling and servicing agreement and the Custodian under the custodial agreement during the prior calendar month, that are subject to an aggregate maximum amount of $300,000 annually and the denominator of which equals the aggregate stated principal balance of the mortgage loans in the related mortgage pool for such Distribution Date multiplied by (b) twelve. |
Structure | Two pool cross collateralized, senior/subordinate, shifting interest. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Credit Enhancement | Credit enhancement for the Senior Certificates will be provided by a senior/subordinate, shifting interest structure. The Subordinate Certificates are subordinate to, and provide credit enhancement for, the Senior Certificates. |
Certificates | Ratings Fitch/KBRA/Moody’s | Bond Size | Initial Subordination | |
Class 1-A1 | AAAsf/AAA(sf)/Aaa(sf) | 38.11% | 7.30% | |
Class 2-A1 | AAAsf/AAA(sf)/Aaa(sf) | 54.59% | 7.30% | |
Class B-1 | AAsf/NR/NR | 2.55% | 4.75% | |
Class B-2 | Asf/NR/NR | 1.70% | 3.05% | |
Class B-3 | BBBsf/NR/NR | 1.15% | 1.90% |
Monthly Advances | The Servicers are generally obligated to advance delinquent payments of principal and interest (to the extent such advances are deemed recoverable), provided that for the mortgage loans serviced by Cenlar FSB, these advances will be funded by the Servicing Administrator. The Servicers (other than Cenlar FSB) and the Servicing Administrator will be entitled to be reimbursed for these advances, and therefore these advances are not a form of credit enhancement. |
The Master Servicer, as successor servicer, will be obligated to make any required advance if a Servicer (other than Cenlar FSB) or the Servicing Administrator fails in its obligation to fund a required advance. The Master Servicer, the Servicers and the Servicing Administrator will be entitled to be reimbursed for any such advances from future payments and collections with respect to the mortgage loans for which they funded any such advances. | |
Compensating Interest | Each Servicer (other than Cenlar FSB) and the Servicing Administrator will provide compensating interest for prepayment interest shortfalls that result from a borrower prepaying a mortgage loan in full or in part up to the amount of such Servicer’s servicing fee (or in the case of the Servicing Administrator, up to the aggregate amount of Cenlar FSB’s servicing fee and the Servicing Administrator’s fee) for the related month. If a Servicer (other than Cenlar FSB) or the Servicing Administrator fails to make a required payment in respect of such shortfalls, the Master Servicer will be obligated to pay any such shortfall, but only to the extent of the master servicing fee. |
Reimbursements of Modified Loans | The Servicers (other than Cenlar FSB) and the Servicing Administrator may be entitled to be reimbursed for advances, if any, at the time of modification of any mortgage loan from collections with respect to other mortgage loans. |
Class Principal Amount | For each class of certificates on any Distribution Date, an amount equal to the aggregate Certificate Principal Amounts of the certificates of that class immediately prior to such Distribution Date. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Certificate Principal Amount | For any certificate (other than the Class 1-AX, Class 2-AX, Class R and Class LT-R Certificates), at the time of determination, the maximum specified dollar amount of principal to which the holder of the certificate is then entitled, that amount being equal to the initial principal amount set forth on the face of the certificate, as reduced by the amount of all principal distributions previously made with respect to that certificate, the principal portion of any Realized Losses previously allocated to that certificate and any Certificate Writedown Amount previously allocated to that certificate;provided, however,that on any Distribution Date on which a subsequent recovery is distributed, the Certificate Principal Amount of any certificate then outstanding to which a Realized Loss amount has been applied will be increased, sequentially in order of seniority, by an amount equal to the lesser of (i) the principal portion of any Realized Loss amount previously allocated to that certificate to the extent not previously recovered and (ii) the principal portion of any subsequent recovery allocable to such certificate, after application (for this purpose) to more senior classes of certificates, andprovided furtherthat on any Distribution Date on which the aggregate stated principal balance of the mortgage loans exceeds the aggregate of the Certificate Principal Amounts of the certificates, such excess will be allocated to increase the Certificate Principal Amount of any certificate then outstanding to which a Realized Loss has been previously allocated, sequentially in order of seniority, up to the principal amount of such Realized Loss to the extent not previously recovered. |
Certificate Writedown Amount | The amount by which the aggregate Certificate Principal Amount of all the certificates (other than the Class 1-AX, Class 2-AX, Class R and Class LT-R Certificates) on any Distribution Date (after giving effect to distributions of principal and allocations of Realized Losses on that Distribution Date) exceeds the aggregate stated principal balance of the Mortgage Loans for the Distribution Date, which is the amount by which the Class Principal Amount of the Class of Subordinate Certificates then outstanding with the highest numerical class designation shall be reduced on such Distribution Date. |
After the Credit Support Depletion Date, the Certificate Writedown Amount for the Pool 1 and Pool 2 Senior Certificates will be equal to any Realized Losses for the related mortgage pool. | |
Senior Percentage (Senior %) | For any Distribution Date and the Class 1-A1 Certificates, the lesser of (a) the percentage equivalent of a fraction, the numerator of which is the aggregate Class Principal Amount of the Class 1-A1 Certificates prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts on such Distribution Date and the denominator of which is the aggregate stated principal balance of the Pool 1 mortgage loans as of the preceding Distribution Date and (b) 100%. |
The initial Pool 1 Senior Percentage will be approximately 92.70%. | |
For any Distribution Date and the Class 2-A1 Certificates, the lesser of (a) the percentage equivalent of a fraction, the numerator of which is the Class Principal Amount of the Class 2-A1 Certificates prior to any distributions of principal or allocations of Realized Losses or allocations of Certificate Writedown Amounts on such Distribution Date and the denominator of which is the aggregate stated principal balance of the Pool 2 mortgage loans as of the preceding Distribution Date and (b) 100%. | |
The initial Pool 2 Senior Percentage will be approximately 92.70%. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Senior Prepayment Percentage | For any Distribution Date and any mortgage pool, the following: |
Distribution Date occurring in the period | Senior Prepayment Percentage | |
February 2013-January 2018 | 100% | |
February 2018-January 2019 | the related Senior % plus 70% of the related Subordinate % | |
February 2019-January 2020 | the related Senior % plus 60% of the related Subordinate % | |
February 2020-January 2021 | the related Senior % plus 40% of the related Subordinate % | |
February 2021-January 2022 | the related Senior % plus 20% of the related Subordinate % | |
February 2022 and thereafter | the related Senior % |
provided, however, that there will be no reduction in the Senior Prepayment Percentage for the related mortgage pool on any Distribution Date unless the Step-Down Test is satisfied; andprovided further, that if on any distribution date on or after the Distribution Date in February 2018, the Senior Percentage for a mortgage pool exceeds the initial Senior Percentage for that mortgage pool, the Senior Prepayment Percentage for each mortgage pool for that Distribution Date will again equal 100%. | |
If on any Distribution Date the allocation to the Pool 1 or Pool 2 Senior Certificates, as applicable, then entitled to distributions of principal of full and partial principal prepayments and other amounts in the percentage required above would reduce the aggregate of the Class Principal Amounts of the related Senior Certificates to below zero, the related Senior Prepayment Percentage for that Distribution Date will be limited to the percentage necessary to reduce the related Class Principal Amount to zero. | |
Subordinate Percentage (Subordinate %) | For any Distribution Date and any mortgage pool, the difference between 100% and the related Senior Percentage on that Distribution Date. The initial Subordinate Percentage for Pool 1 will be approximately 7.30%. The initial Subordinate Percentage for Pool 2 will be approximately 7.30%. |
Aggregate Subordinate Percentage | For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate Class Principal Amount of the Subordinate Certificates prior to any distributions of principal or allocation of Realized Losses on such Distribution Date, and the denominator of which is the aggregate stated principal balance of all the mortgage loans as of the preceding Distribution Date. The initial Aggregate Subordinate Percentage will be approximately 7.30%. |
Subordinate Prepayment Percentage | For any Distribution Date and any mortgage pool, the difference between 100% and the related Senior Prepayment Percentage on that Distribution Date. |
Class Subordination Percentage | For any Distribution Date and each class of Subordinate Certificates, an amount equal to a fraction (expressed as a percentage), the numerator of which is the Class Principal Amount of that class prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts on such Distribution Date and the denominator of which is the aggregate of the Class Principal Amounts of all classes of certificates (other than the Class 1-AX, Class 2-AX, Class R and Class LT-R Certificates) prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts on that Distribution Date. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Step-Down Test | As to any Distribution Date, the test that will be satisfied if both of the following conditions are met:first, the outstanding principal balance of all mortgage loans delinquent 60 days or more (including mortgage loans in foreclosure, REO Property or bankruptcy status) and any mortgage loans subject to a servicing modification within the 12 months prior to that Distribution Date, averaged over the preceding six-month period, as a percentage of the aggregate Class Principal Amount on such Distribution Date (without giving effect to any payments on such Distribution Date) of the Subordinate Certificates, does not equal or exceed 50%; andsecond, cumulative Realized Losses on the mortgage loans plus, with respect to any mortgage loans that have been the subject of a servicing modification, any interest due on such mortgage loans that has been written off by the servicer, do not exceed: |
Distribution Date occurring in the period | Cumulative Realized Losses as a % of the original Aggregate Subordinate Class Principal Amounts | |
February 2018 - January 2019 | 20% | |
February 2019 - January 2020 | 25% | |
February 2020 - January 2021 | 30% | |
February 2021 - January 2022 | 35% | |
February 2022 and thereafter | 40% |
Realized Loss | An amount equal to: |
(a) with respect to each liquidated mortgage loan, an amount (not less than zero or more than the stated principal balance of the mortgage loan plus accrued interest) as of the date of such liquidation, equal to (i) the unpaid principal balance of the liquidated mortgage loan as of the date of such liquidation, plus (ii) interest at the Net Mortgage Rate from the due date as to which interest was last paid by the borrower up to the due date in the month in which liquidation proceeds are required to be distributed on the stated principal balance of such liquidated mortgage loan from time to time, minus (iii) the net liquidation proceeds received during the month in which such liquidation occurred, to the extent not previously applied as recoveries of interest at the Net Mortgage Rate and to principal of the liquidated mortgage loan, | |
(b) the amount by which, in the event of bankruptcy of a borrower, a bankruptcy court reduces the secured debt to the value of the related mortgaged property | |
(c) with respect to a mortgage loan that has been the subject of a servicing modification, any principal due on the mortgage loan that has been written off by the servicer and any principal forbearance amount, | |
or | |
(d) with respect to each class of certificates, the amount by which the related Class Principal Amount is reduced as a result of clauses (a), (b) or (c) above. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Payment Priority | On each Distribution Date, the Available Distribution Amount for Pool 1 (in the case of the Pool 1 Certificates), the Available Distribution Amount for Pool 2 (in the case of the Pool 2 Certificates) and the Available Distribution Amount for Pool 1 and Pool 2 (in the case of the Subordinate Certificates) will be distributed in the following order of priority: |
First, concurrently, (a) to the Class 1-A1 Certificates and to the Class 1-AX Certificates, pro rata, such class’s Interest Distribution Amount and accrued and unpaid Interest Distribution Amounts from prior periods and (b) to the Class 2-A1 Certificates and to the Class 2-AX Certificates, pro rata, such class’s Interest Distribution Amount and accrued and unpaid Interest Distribution Amounts from prior periods; | |
Second, concurrently, (a) to the Class 1-A1 Certificates, the Senior Principal Distribution Amount for Pool 1, until its Class Principal Amount has been reduced to zero and (b) to the Class 2-A1 Certificates, the Senior Principal Distribution Amount for Pool 2, until its Class Principal Amount has been reduced to zero; and | |
Third, sequentially, to the Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates, in that order, such class’s Interest Distribution Amount and accrued and unpaid Interest Distribution Amounts from prior periods, and then such class’s pro rata share (based on the Class Principal Amount of each class entitled thereto) of the Subordinate Principal Distribution Amount for each of Pool 1 and Pool 2 until the Class Principal Amount for such class has been reduced to zero, with both interest and principal being paid to one class before any payments are made to the next class. | |
On each Distribution Date on and after the Credit Support Depletion Date, the Available Distribution Amount for Pool 1 and Pool 2 will be combined and distributed to the remaining senior certificates,first, to pay the Interest Distribution Amount and any accrued and unpaid interest shortfalls concurrently on a pro rata basis (based on the amount of current interest payable to such class); andsecond, to pay principal on a pro rata basis (based on the class principal amount of each class). | |
Credit Support Depletion Date | The date on which the aggregate Class Principal Amount of the subordinate certificates has been reduced to zero. |
Interest Distribution Amount | For each class of certificates on any Distribution Date, the current interest for that class on that Distribution Date as reduced by each such class’s share of Net Interest Shortfalls, which will be allocated to each class on a pro rata basis based on the amount of current interest payable to each such class. |
Net Interest Shortfall | For any Distribution Date and any mortgage pool, the sum of (i) any Net Prepayment Interest Shortfalls for that mortgage pool and that Distribution Date and (ii) the amount of interest which would otherwise have been received with respect to any mortgage loan in that mortgage pool that was subject to a reduction in the amount of monthly interest payment on a mortgage loan pursuant to the Servicemembers Civil Relief Act or similar state or local law. |
Net Prepayment Interest Shortfall | For any Distribution Date, the amount by which a prepayment interest shortfall for the related due period exceeds the amount that a Servicer (other than Cenlar FSB), the Servicing Administrator and the Master Servicer are obligated to remit to cover such shortfall for such due date. |
Prepayment Period | For each mortgage loan serviced by Cenlar FSB and (i) each Distribution Date (other than the February 2013 Distribution Date), the period commencing on the 15th day of the month preceding the month in which the related Distribution Date occurs through the 14th day of the month in which the related Distribution Date occurs and (ii) the February 2013 Distribution Date, the period commencing on January 1, 2013 through February 14, 2013. For each mortgage loan serviced by First Republic Bank and each Distribution Date, the calendar month preceding the month in which the related distribution date occurs. For any mortgage loan serviced by EverBank and PHH Mortgage Corporation and any distribution date, the period commencing on the 2nd day of the month preceding the month in which the related Distribution Date occurs through the 1st day of the month in which the related Distribution Date occurs. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Senior Principal Distribution Amount | On each Distribution Date, the related mortgage pool’s Available Distribution Amount remaining after payment of interest with respect to the related Senior Certificates, as applicable, up to the amount of the related Senior Principal Distribution Amount for such Distribution Date, will be distributed as principal to the Class 1-A1 Certificates and Class 2-A1 Certificates, as applicable. |
The “Senior Principal Distribution Amount” with respect to the Class 1-A1 Certificates and Class 2-A1 Certificates, as applicable, for any Distribution Date will equal the sum of: | |
(1) the product of (a) the related Senior Percentage and (b) the principal portion of the scheduled payment due on each mortgage loan in the related mortgage pool on the related due date, whether or not received; | |
(2) the product of (a) the related Senior Prepayment Percentage and (b) each of the following amounts: (i) the principal portion of each full and partial principal prepayment made by a borrower on a mortgage loan in the related mortgage pool during the related Prepayment Period; (ii) each other unscheduled collection, including subsequent recoveries, insurance proceeds and net liquidation proceeds (other than with respect to any mortgage loan in the related mortgage pool that was finally liquidated during the related Prepayment Period) representing or allocable to recoveries of principal of the mortgage loans in the related mortgage pool received during the related Prepayment Period; (iii) the principal portion of the purchase price of each mortgage loan in the related mortgage pool purchased by an Originator or the Seller due to a material breach of a representation and warranty with respect to such mortgage loan or, in the case of a permitted substitution of a defective mortgage loan, the amount representing any Substitution Amount in connection with any such replaced mortgage loan included in the Available Distribution Amount for such Distribution Date; and (iv) the principal portion of the purchase price for mortgage loans paid by a party exercising its right to terminate the trust fund; | |
(3) with respect to each mortgage loan in the related mortgage pool that became a liquidated mortgage loan during the related Prepayment Period, the lesser of (a) the net liquidation proceeds allocable to principal and (b) the product of (i) the related Senior Prepayment Percentage for that Distribution Date and (ii) the remaining principal balance of the mortgage loan at the time of liquidation; and | |
(4) any amounts described in clauses (1) through (3) above that remain unpaid with respect to the Pool 1 Certificates or Pool 2 Certificates, as applicable, from prior Distribution Dates. | |
plus the sum of: | |
(A) if the aggregate Class Principal Amount of the related senior certificates has not been reduced to zero, principal paid from the Available Distribution Amount from the non-related mortgage pool as described under “Cross-Collateralization – Rapid Prepayments” below; and | |
(B) in the case of an Undercollateralized Group, the Total Transfer Amount paid to such Undercollateralized Group from the Available Distribution Amount for the Overcollateralized Group as described under “Cross Collateralization – Disproportionate Realized Losses: below. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
If on any Distribution Date the allocation to the Class 1-A1 Certificates and Class 2-A1 Certificates of related full and partial principal prepayments and other amounts in the percentage required above would reduce the Class Principal Amount of such certificates below zero, the distribution to such class of certificates of the related Senior Prepayment Percentage of those amounts for that Distribution Date will be limited to the percentage necessary to reduce the Class Principal Amount of such certificates to zero. | |
In addition, if on any Distribution Date the aggregate of the Class Principal Amounts of the Subordinate Certificates is less than or equal to 1.20% of the stated principal balance of the mortgage loans as of the closing date, the Senior Principal Distribution Amount for such Distribution Date and each succeeding Distribution Date will include all principal collections on the mortgage loans in the related mortgage pool distributable on that Distribution Date, and the Subordinate Principal Distribution Amount will be zero, until the aggregate Class Principal Amount of the Class 1-A1 Certificates and Class 2-A1 Certificates is reduced to zero. | |
In addition, until the Class Principal Amounts of the Class 1-A1 Certificates and Class 2-A1 Certificates are reduced to zero, if on any Distribution Date, the Aggregate Subordinate Percentage for such Distribution Date is less than 7.30%, the related Senior Principal Distribution Amount for such Distribution Date will include all principal collections on the related mortgage loans distributable on that Distribution Date, and the Subordinate Principal Distribution Amount will be zero. | |
Subordinate Principal Distribution Amount | The Subordinate Principal Distribution Amount for each Distribution Date and any mortgage pool, is equal to the sum of: |
(1) the product of (a) the related Subordinate Percentage and (b) the principal portion of each related scheduled payment on each mortgage loan in the related mortgage pool due during the related due period, whether or not received; | |
(2) the product of (a) the related Subordinate Prepayment Percentage and (b) each of the following amounts: (i) the principal portion of each full and partial principal prepayment made by a borrower on a mortgage loan in the related mortgage pool during the related Prepayment Period, (ii) each other unscheduled collection, including subsequent recoveries, insurance proceeds and net liquidation proceeds (other than with respect to any mortgage loan in the related mortgage pool that was finally liquidated during the related Prepayment Period), representing or allocable to recoveries of principal of mortgage loans in the related mortgage pool received during the related Prepayment Period; (iii) the principal portion of the purchase price of each mortgage loan in the related mortgage pool that was purchased by an Originator or the Seller due to a material breach of a representation and warranty with respect to such mortgage loan or, in the case of a permitted substitution of a defective mortgage loan, the amount representing any Substitution Amount in connection with any such replaced mortgage loan included in the Available Distribution Amount for such Distribution Date; and (iv) the principal portion of the purchase price for mortgage loans in the related mortgage pool paid by a party exercising its right to terminate the trust fund; |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(3) with respect to unscheduled recoveries allocable to principal of any mortgage loan in the related mortgage pool that was finally liquidated during the related Prepayment Period, the related net liquidation proceeds allocable to principal, to the extent not distributed pursuant to clause (3) of the definition of Senior Principal Distribution Amount); and | |
(4) any amounts described in clauses (1) through (3) above for any previous Distribution Date that remain unpaid; | |
Minus the sum of: | |
(A) if the aggregate Class Principal Amount of either the Class 1-A1 or Class 2-A1 Certificates has been reduced to zero, principal paid from the Available Distribution Amount from the related mortgage pool to the Class 1-A1 or Class 2-A1 Certificates, as applicable, as described under “Cross Collateralization” below; and | |
(B) the amounts paid from the Available Distribution Amount for an Overcollateralized Group to the senior certificates related to an Undercollateralized Group, as described under “Cross Collateralization” below. | |
Notwithstanding the above, with respect to any class of Subordinate Certificates (other than the Class B-1 Certificates), if on any Distribution Date the sum of the Class Subordination Percentage of such class and the aggregate Class Subordination Percentages of all classes of Subordinate Certificates which have a lower payment priority than that class is less than the Applicable Credit Support Percentage, no distribution of principal will be made to any such classes on that Distribution Date. Instead, the related Subordinate Principal Distribution Amount on that Distribution Date will be allocated among the more senior classes of subordinate certificates, pro rata, based on their respective Class Principal Amounts. | |
Notwithstanding the above, with respect to each class of Subordinate Certificates (other than the Class B-1 Certificates) if on any Distribution Date the Class Principal Amount of that class and the aggregate of the Class Principal Amounts of all classes of Subordinate Certificates which have a lower payment priority than that class was reduced to less than or equal to 1.20% of the stated principal balance of the mortgage loans as of the closing date, the portion of each Subordinate Principal Distribution Amount otherwise distributable to such class or classes on such Distribution Date and each succeeding Distribution Date will be allocated among the Subordinate Certificates with a higher payment priority then entitled to principal,pro rata, based on their respective Class Principal Amounts and any remaining Subordinate Principal Distribution Amount will be included in the related Senior Principal Distribution Amount for such Distribution Date. | |
In addition, until the aggregate Class Principal Amounts of the Class 1-A1 and Class 2-A1 Certificates is reduced to zero, if on any Distribution Date the Aggregate Subordinate Percentage for such Distribution Date is less than 7.30%, the related Senior Principal Distribution Amount for such Distribution Date will include all principal collections on the mortgage loans in the related mortgage pool distributed on that Distribution Date and each Subordinate Principal Distribution Amount will be zero. | |
In addition, until the aggregate Class Principal Amount of the Class 1-A1 and Class 2-A1 Certificates is reduced to zero, if on any Distribution Date the aggregate of the Class Principal Amounts of the Subordinate Certificates is less than or equal to 1.20% of the stated principal balance of the mortgage loans as of the closing date, the related Senior Principal Distribution Amount for such Distribution Date and each succeeding Distribution Date will include all principal collections on the mortgage loans in the related mortgage pool distributable on that Distribution Date, and each Subordinate Principal Distribution Amount will be zero. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Available Distribution Amount | With respect to any Distribution Date and any mortgage pool, the sum of the following amounts with respect to the mortgage loans included in the related mortgage pool: (i) all scheduled payments of interest (net of the servicing fees, the servicing administrator fee and the master servicing fee) and principal due during the related due period, together with any advances in respect thereof; (ii) insurance proceeds received during the related Prepayment Period; (iii) liquidation proceeds received during the related Prepayment Period (net of unreimbursed expenses incurred in connection with a liquidation or foreclosure and unreimbursed monthly advances and servicing advances, if any); (iv) subsequent recoveries received during the related Prepayment Period; (v) all partial or full prepayments of principal, together with any accrued interest thereon, identified as having been received on the related mortgage loans during the related Prepayment Period, plus any amounts received from the related servicer (other than Cenlar FSB), the Servicing Administrator or the Master Servicer in respect of prepayment interest shortfalls on such mortgage loans; (vi) amounts received with respect to such Distribution Date as the Substitution Amount and the purchase price in respect of a deleted mortgage loan or a mortgage loan purchased by an originator or the seller as of such Distribution Date as a result of a breach of a representation or warranty; and (vii) the purchase price paid by the party exercising its right to purchase the mortgage loans and terminate the trust fund, if applicable; |
Minus | |
(i) amounts applied to reimburse monthly advances and servicing advances previously funded and all charges and other amounts as to which the Servicers are entitled to be reimbursed pursuant to the servicing agreements; (ii) amounts applied to reimburse monthly advances and servicing advances previously funded as to which the Master Servicer or Servicing Administrator is entitled to be reimbursed pursuant to the pooling and servicing agreement or with respect to the Servicing Administrator, the Cenlar FSB servicing agreement; and (iii) an amount equal to the product of (a) the applicable Pool Percentage and (b) all charges and other amounts payable or reimbursable (other than the master servicing fee) to the Master Servicer, the Securities Administrator and the Trustee under the pooling and servicing agreement and the Custodian under the custodial agreement (subject to an aggregate maximum amount of $300,000 annually to be paid to such parties collectively and a maximum amount of $125,000 annually to be paid to the Trustee). | |
The “Pool Percentage” for each mortgage pool for any Distribution Date will be a fraction, expressed as a percentage, the numerator of which is the aggregate principal balance of the mortgage loans in such mortgage pool prior to any payments of principal on such Distribution Date and the denominator of which is the sum of the aggregate principal balance of all the mortgage loans prior to any payments of principal on such Distribution Date. | |
Cross Collateralization | The priority of distributions with respect to Pool 1 and Pool 2 will be subject to change if any of Pool 1 or Pool 2 is either subject to rapid prepayments or disproportionately high realized losses. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Rapid Prepayments | |
Cross collateralization due to rapid prepayments in either Pool 1 or Pool 2 will occur when (i) the Class Principal Amount of the Class 1-A1 Certificates or Class 2-A1 Certificates has been reduced to zero; (ii) there are still Subordinate Certificates outstanding; and (iii) either (a) the Aggregate Subordinate Percentage on that date is less than the Aggregate Subordinate Percentage as of the closing date or (b) the outstanding principal balance of the mortgage loans in Pool 1 or Pool 2 delinquent 60 days or more averaged over the last six months, as a percentage of the pool’s applicable Pool Subordinate Amount, is greater than or equal to 50%. | |
When all of these three conditions are satisfied, and (1) the Pool 1 Certificates have been reduced to zero, all principal received or advanced with respect to the mortgage loans in Pool 1 or Pool 2 will be applied as a distribution of principal to the Class 2-A1 Certificates rather than be applied as a principal distribution to the Subordinate Certificates or (2) the Pool 2 Certificates have been reduced to zero, all principal received or advanced with respect to the mortgage loans in Pool 1 or Pool 2 will be applied as a distribution of principal to the Class 1-A1 Certificates rather than be applied as a principal distribution to the Subordinate Certificates. | |
Disproportionate Realized Losses | |
Cross collateralization due to disproportionate realized losses will occur when realized losses of Pool 1 or Pool 2 exceed the related Pool Subordinate Amount for that mortgage pool resulting in undercollateralization, that is, the principal balance of the mortgage loans in that mortgage pool will be less than the Class Principal Amount of the related certificate group being supported by those mortgage loans. In that situation, payments on the mortgage loans in the other mortgage pool will be used to make interest and then principal distributions to the Senior Certificates related to the undercollateralized certificate group. | |
If, on any Distribution Date, the aggregate Class Principal Amount of the Pool 1 Certificates or the Pool 2 Certificates is greater than the aggregate stated principal balance of the mortgage loans in the related mortgage pool (such certificate group, the “Undercollateralized Group” and the other certificate group, the “Overcollateralized Group”), then until the occurrence of the Credit Support Depletion Date, the priority of distributions will be altered as follows: | |
The Available Distribution Amount for the Overcollateralized Group, to the extent remaining following distributions of interest and principal to the related senior certificates of that group will be paid in the following priority: (1) first, such amount, up to an amount for the Undercollateralized Group (the “Total Transfer Amount”) equal to the sum of the Interest Transfer Amount and the Principal Transfer Amount for the Undercollateralized Group will be distributed first to the Senior Certificates related to the Undercollateralized Group, in payment of accrued but unpaid interest, if any, and then to those Senior Certificates as principal, to the extent required so that such certificate group will no longer qualify as an Undercollateralized Group; and (2) second, any remaining amount will be distributed sequentially, to the Subordinate Certificates as interest and then principal with both interest and principal being paid to one class before any payments are made to the next class. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
The “Pool Subordinate Amount” for each mortgage pool and any Distribution Date will be the excess of the aggregate stated principal balance of the mortgage loans in such mortgage pool as of the first day of the month preceding the month in which such Distribution Date occursover the sum of the Class Principal Amounts of the Pool 1 Certificates or the Pool 2 Certificates, as applicable, immediately prior to such Distribution Date. | |
On each Distribution Date, the “Interest Transfer Amount” for an Undercollateralized Group will equal one month’s interest on the applicable Principal Transfer Amount at such mortgage pool’s weighted average Net Mortgage Rate, plus any shortfall of interest on the Senior Certificates of such Undercollateralized Group from prior Distribution Dates. | |
On each Distribution Date, the “Principal Transfer Amount” for an Undercollateralized Group will equal the lesser of (i) the excess of the aggregate Class Principal Amount of the senior certificates related to that Undercollateralized Group over the aggregate stated principal balance of the mortgage loans in that mortgage pool and (ii) all amounts otherwise distributable as principal on the Subordinate Certificates, in reverse order of priority, will be distributed as principal to the Senior Certificates of the Undercollateralized Group, until the total Class Principal Amount of those Senior Certificates equals the balance of the mortgage loans in the related mortgage pool. | |
The payment of interest to the certificates related to the Undercollateralized Group from the interest collected on the Overcollateralized Group may cause a shortfall in the amount of principal and interest otherwise distributable to the subordinate certificates. In addition, after the aggregate of the Class Principal Amounts of the subordinate certificates has been reduced to zero, this may cause a shortfall of principal that would be allocated to the Senior Certificates related to the Undercollateralized Group. | |
Applicable Credit Support Percentage | For each class of Subordinate Certificates and any Distribution Date, the sum of the Class Subordination Percentage of that class and the aggregate Class Subordination Percentage of all other classes of Subordinate Certificates having lower payment priorities than that class. The approximate original Applicable Credit Support Percentages for each class of Subordinate Certificates on the date of issuance of such certificates are expected to be as follows: |
Class | Approximate Applicable Credit Support Percentage | |
B-1 | 7.30 % | |
B-2 | 4.75% | |
B-3 | 3.05% | |
B-4 | 1.90% | |
B-5 | 1.05% |
Allocation of Realized Losses | If a Realized Loss occurs on the mortgage loans (including a servicing modification resulting in a reduction of the outstanding principal amount of such mortgage loan or a principal forbearance), then, on each Distribution Date, the principal portion of that Realized Loss will be allocatedfirst, to reduce the Class Principal Amount of each class of Subordinate Certificates, in inverse order of priority, until the Class Principal Amount thereof has been reduced to zero (that is, such Realized Losses will be allocated to the Class B-5 Certificates while those certificates are outstanding, then to the Class B-4 Certificates while those certificates are outstanding, then to the Class B-3 Certificates while those certificates are still outstanding, and so forth) andsecond, to the Class 1-A1 Certificates (in the case of Realized Losses on the Pool 1 mortgage loans) and Class 2-A1 Certificates (in the case of Realized Losses on the Pool 2 mortgage loans). In determining whether a Realized Loss is a loss of principal or of interest, Liquidation Proceeds and other recoveries on a mortgage loan will be applied first to outstanding expenses incurred with respect to such mortgage loan, then to accrued, unpaid interest, and finally to principal. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Sponsor’s Risk Retention | The Sponsor or one or more of its affiliates will initially purchase at least 5% of the aggregate Certificate Principal Amount of all of the certificates, which will include the Class B-4, Class B-5, Class R and Class LT-R Certificates. Thereafter, the Sponsor or one or more of its affiliates may or may not continue to retain certificates with an aggregate original Certificate Principal Amount at least equal to 5% of the aggregate original Certificate Principal Amount of the certificates. Once regulations governing sponsor/seller risk retention have been finalized and become effective, unless those regulations apply to Sequoia Mortgage Trust 2013-1 retroactively and require sponsors or sellers to retain a larger portion of the certificates than retained at that time, the Sponsor or one or more of its affiliates would not plan to increase their holdings of certificates as a response to the finalization of risk retention regulations. |
Dispute Resolution | In the event there is a dispute arising from an unresolved repurchase request for a potential violation of any representation or warranty made at the time of closing by an Originator or the Seller, as applicable, such Originator or the Seller has agreed to submit to binding arbitration by a non-affiliated third party to resolve the dispute. |
Clean-up Call | On any date on which the total stated principal balance of the mortgage loans has declined to less than 10% of the initial total stated principal balance of the mortgage loans as of the Cut-Off Date, subject to satisfaction of the conditions described in the pooling and servicing agreement, the Master Servicer will have the option to purchase all of the mortgage loans from the trust fund. The proceeds from such purchase will be distributed to the certificateholders in accordance with the Payment Priority. |
Registration | The Offered Certificates will be issuable in book-entry form through DTC. |
Federal Tax Treatment | The Securities Administrator, on behalf of the Trustee, will elect to treat all or a portion of the trust fund as one or more “real estate mortgage investment conduits” or “REMICs” for federal income tax purposes. The Class 1-AX and Class 2-AX Certificates will, and certain of the remaining Classes of Offered Certificates may, be issued with original issue discount for federal income tax purposes. |
ERISA Considerations | The Class 1-A1, Class 1-AX, Class 2-A1, and Class 2-AX Certificates will be placed by an underwriter. Each beneficial owner of Class 1-A1, Class 1-AX, Class 2-A1 ,and Class 2-AX Certificates or any interest therein (and each beneficial owner of Class B-1, Class B-2 and Class B-3 Certificates or any interest therein that is placed by an underwriter) shall be deemed to have represented, by virtue of its acquisition or holding of that certificate or interest therein, that either (i) it is not a Plan investor; (ii) it has acquired and is holding such certificates in reliance on the Underwriter Exemption, and it understands that there are certain conditions to the availability of the Underwriter Exemption, including that such certificates must be rated, at the time of purchase, not lower than “BBB-” (or its equivalent) by Standard & Poor’s, Moody’s, Fitch, DBRS Limited or DBRS Inc.; or (iii) (1) it is an insurance company, (2) the source of funds used to acquire or hold the certificate or interest therein is an “insurance company general account,” as such term is defined in Section V(e) of Prohibited Transaction Class Exemption, or PTCE, 95-60, and (3) the conditions in Sections I and III of PTCE 95-60 have been satisfied. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
SMMEA Treatment | The Class 1-A1, Class 2-A1, Class 1-AX, Class 2-AX and Class B-1 Certificates will be “mortgage related securities” for purposes of the Secondary Mortgage Market Enhancement Act of 1984 (“SMMEA”) so long as they are rated in one of the two highest rating categories by at least one nationally recognized statistical rating agency. |
Stated Final Maturity Date | The Distribution Date in February 2043. The actual final Distribution Date could be substantially earlier. |
Record Date | For the first Distribution Date, the closing date. For any other Distribution Date, the last business day of the calendar month preceding the related Distribution Date. |
Diligence Review of Mortgage Loans | The Sponsor, prior to including the mortgage loans in the mortgage pool, engaged two third-party loan review firms to conduct the review of the mortgage loans as summarized below. |
Credit and Compliance Review | |
The third party review firms conducted a credit and compliance review of approximately 96.5% (by number of mortgage loans) of the mortgage loans. The review consisted of a review of the documentation in each Originator’s loan files relating to the creditworthiness of the borrowers, and an assessment of whether the characteristics of the mortgage loans and the borrowers reasonably conformed to the underwriting guidelines previously provided to the Sponsor. The third party review firms also reviewed exceptions to the underwriting guidelines that were permitted by each Originator and related compensating factors for those mortgage loans. | |
Appraisal Review | |
The third party review firms reviewed approximately 96.5% (by number of mortgage loans) of the appraisals for the mortgaged properties obtained in connection with the origination of the mortgage loans to assess compliance with the Originators’ appraisal guidelines and standards in effect at the time of origination. In some cases, the review included the review of a Collateral Desktop Analysis (CDA) to determine whether there was support for the reasonableness of the original appraised value, including comparisons to publicly available market data. | |
Rights of Controlling Holder | The Controlling Holder will have the right, in its sole discretion, to pursue an action (a) in respect of an alleged breach by an Originator of a representation and warranty relating to the characteristics of the mortgage loans or (b) if any mortgage loan document required to be delivered to the Trustee or the Custodian is found to be missing or defective in any material respect and the originator does not cure such defect within the period specified in the related servicing agreement. |
Default Oversight | The Master Servicer will have oversight over certain matters relating to the servicing of defaulted mortgage loans including, but not limited to, approving certain loan modifications, reviewing environmental reports relating to foreclosed properties to determine whether to proceed with a foreclosure, approving certain actions relating to the management of REO property and approving the release of the original borrower in connection with loan assumptions. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Substitution Amount | For any month in which an Originator substitutes one or more qualified substitute mortgage loans for one or more deleted mortgage loans as a result of a breach of a representation or warranty with respect to a mortgage loan, the amount by which the aggregate purchase price of all of the deleted mortgage loans exceeds the aggregate stated principal balance of the qualified substitute mortgage loans, together with one month’s interest at the Net Mortgage Rate. |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Collateral Summary (Aggregate Pool) | |||
Statistics for the Mortgage Loans listed below are based on Cut-off Date scheduled balances. | |||
Minimum | Maximum | ||
Scheduled Principal Balance: | $397,881,279.50 | $34,446.34 | $2,986,402.21 |
Number of Mortgage Loans: | 511 | ||
30 Year Fixed Rate Percentage: | 58.69% | ||
20 Year Fixed Rate Percentage: | 0.19% | ||
15 Year Fixed Rate Percentage: | 19.09% | ||
10 Year Fixed Rate Percentage: | 0.99% | ||
Hybrid 5 Year Fixed: | 3.26% | ||
Hybrid 7 Year Fixed: | 0.25% | ||
Hybrid 10 Year Fixed: | 17.52% | ||
Average Scheduled Principal Balance: | $778,632.64 | ||
Weighted Average Gross Mortgage Rate: | 3.988% | 2.875% | 5.000% |
Weighted Average Seasoning: | 6 Months | 0 Months | 38 Months |
Weighted Average Original LTV Ratio: | 66.61% | 17.77% | 84.05% |
Weighted Average Original Combined LTV Ratio: | 67.74% | 23.27% | 87.69% |
Weighted Average Original Credit Score: | 769 | 667 | 823 |
Weighted Average Original Debt-to-Income Ratio: | 29.78% | 3.48% | 60.07% |
Original Interest Only (10 Years) Loans Percentage: | 5.03% | ||
Weighted Average Original Term to Maturity: | 323 Months | 120 Months | 360 Months |
Weighted Average Remaining Term to Maturity: | 317 Months | 114 Months | 360 Months |
First Lien Percentage at Origination: | 100% | ||
Loans with Seconds at Origination: | 8.31% | ||
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Product Type of the Mortgage Loans | ||||||||
Product Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Ratio (%) | Weighted Average Original Combined Loan-to- Ratio (%) |
10 Years Fixed Rate | 6 | 3,952,834.03 | 0.99 | 658,805.67 | 3.268 | 779 | 65.03 | 66.76 |
15 Years Fixed Rate | 114 | 75,949,787.87 | 19.09 | 666,226.21 | 4.068 | 765 | 64.48 | 65.26 |
20 Years Fixed Rate | 1 | 773,778.39 | 0.19 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
30 Years Fixed Rate | 291 | 233,519,580.31 | 58.69 | 802,472.78 | 4.028 | 771 | 67.42 | 68.25 |
Hybrid 5 Year Fixed | 15 | 12,984,730.47 | 3.26 | 865,648.70 | 3.434 | 772 | 65.11 | 67.70 |
Hybrid 7 Year Fixed | 1 | 1,010,086.69 | 0.25 | 1,010,086.69 | 3.375 | 798 | 68.00 | 68.00 |
Hybrid 10 Year Fixed | 83 | 69,690,481.74 | 17.52 | 839,644.36 | 3.922 | 763 | 66.51 | 68.70 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Collateral characteristics are listed below as of the Cut-off Date | |
Principal Balances of the Mortgage Loans at Origination |
Range of Original Principal Balances ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0.01 to 100,000.00 | 2 | 93,452.85 | 0.02 | 46,726.43 | 4.191 | 773 | 29.71 | 29.71 |
100,000.01 to 200,000.00 | 2 | 276,237.87 | 0.07 | 138,118.94 | 3.876 | 772 | 65.92 | 65.92 |
200,000.01 to 300,000.00 | 1 | 175,737.28 | 0.04 | 175,737.28 | 4.250 | 707 | 42.22 | 42.22 |
400,000.01 to 500,000.00 | 16 | 7,422,748.69 | 1.87 | 463,921.79 | 3.927 | 772 | 66.66 | 66.66 |
500,000.01 to 600,000.00 | 96 | 51,945,990.89 | 13.06 | 541,104.07 | 4.008 | 772 | 67.77 | 68.86 |
600,000.01 to 700,000.00 | 112 | 72,312,692.90 | 18.17 | 645,649.04 | 3.999 | 773 | 66.08 | 67.29 |
700,000.01 to 800,000.00 | 87 | 64,294,009.98 | 16.16 | 739,011.61 | 3.949 | 773 | 66.98 | 68.36 |
800,000.01 to 900,000.00 | 65 | 54,829,980.80 | 13.78 | 843,538.17 | 3.935 | 770 | 67.40 | 68.38 |
900,000.01 to 1,000,000.00 | 70 | 67,000,889.55 | 16.84 | 957,155.57 | 4.011 | 765 | 66.56 | 68.11 |
1,000,000.01 to 1,100,000.00 | 14 | 14,708,345.13 | 3.70 | 1,050,596.08 | 3.946 | 766 | 61.53 | 62.89 |
1,100,000.01 to 1,200,000.00 | 12 | 13,594,880.43 | 3.42 | 1,132,906.70 | 3.984 | 776 | 67.68 | 67.68 |
1,200,000.01 to 1,300,000.00 | 8 | 9,106,328.52 | 2.29 | 1,138,291.07 | 4.160 | 756 | 71.23 | 71.23 |
1,300,000.01 to 1,400,000.00 | 9 | 11,915,471.82 | 2.99 | 1,323,941.31 | 4.137 | 775 | 66.83 | 68.00 |
1,400,000.01 to 1,500,000.00 | 7 | 10,173,771.67 | 2.56 | 1,453,395.95 | 3.993 | 767 | 67.76 | 67.76 |
1,500,000.01 to 1,600,000.00 | 1 | 1,514,372.03 | 0.38 | 1,514,372.03 | 4.125 | 760 | 63.45 | 63.45 |
1,600,000.01 to 1,700,000.00 | 2 | 3,289,200.17 | 0.83 | 1,644,600.09 | 4.375 | 743 | 67.76 | 67.76 |
1,700,000.01 to 1,800,000.00 | 2 | 3,320,460.34 | 0.83 | 1,660,230.17 | 4.244 | 748 | 66.74 | 66.74 |
1,800,000.01 to 1,900,000.00 | 1 | 1,900,000.00 | 0.48 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
1,900,000.01 to 2,000,000.00 | 1 | 1,911,524.43 | 0.48 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
2,300,000.01 to 2,400,000.00 | 1 | 2,325,000.00 | 0.58 | 2,325,000.00 | 2.950 | 778 | 68.38 | 68.38 |
2,700,000.01 to 2,800,000.00 | 1 | 2,783,781.94 | 0.70 | 2,783,781.94 | 4.000 | 699 | 56.00 | 56.00 |
2,900,000.01 to 3,000,000.00 | 1 | 2,986,402.21 | 0.75 | 2,986,402.21 | 3.750 | 746 | 62.50 | 62.50 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The average loan balance of the mortgage loans at origination was approximately $793,645.18.
- 23 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Scheduled Principal Balances of the Mortgage Loans as of the Cut-off-Date | ||||||||
Range of Current Principal Balances ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Ratio (%) | Weighted Average Original Combined Loan-to- Ratio (%) |
0.01 to 100,000.00 | 2 | 93,452.85 | 0.02 | 46,726.43 | 4.191 | 773 | 29.71 | 29.71 |
100,000.01 to 200,000.00 | 3 | 451,975.15 | 0.11 | 150,658.38 | 4.022 | 747 | 56.71 | 56.71 |
200,000.01 to 300,000.00 | 1 | 212,016.27 | 0.05 | 212,016.27 | 4.625 | 773 | 70.00 | 70.00 |
300,000.01 to 400,000.00 | 2 | 664,209.85 | 0.17 | 332,104.93 | 3.766 | 809 | 60.64 | 60.64 |
400,000.01 to 500,000.00 | 26 | 12,488,148.23 | 3.14 | 480,313.39 | 4.015 | 768 | 67.49 | 68.00 |
500,000.01 to 600,000.00 | 94 | 52,073,533.53 | 13.09 | 553,973.76 | 3.988 | 772 | 68.29 | 69.25 |
600,000.01 to 700,000.00 | 107 | 70,149,856.71 | 17.63 | 655,606.14 | 4.000 | 773 | 65.50 | 66.75 |
700,000.01 to 800,000.00 | 89 | 66,334,874.37 | 16.67 | 745,335.67 | 3.962 | 775 | 67.14 | 68.47 |
800,000.01 to 900,000.00 | 62 | 52,794,344.47 | 13.27 | 851,521.69 | 3.933 | 768 | 67.47 | 68.67 |
900,000.01 to 1,000,000.00 | 67 | 64,549,529.24 | 16.22 | 963,425.81 | 4.012 | 766 | 66.25 | 67.72 |
1,000,000.01 to 1,100,000.00 | 14 | 14,848,690.33 | 3.73 | 1,060,620.74 | 3.909 | 766 | 60.90 | 62.25 |
1,100,000.01 to 1,200,000.00 | 13 | 14,839,460.40 | 3.73 | 1,141,496.95 | 4.074 | 773 | 70.12 | 70.12 |
1,200,000.01 to 1,300,000.00 | 7 | 8,754,332.46 | 2.20 | 1,250,618.92 | 4.118 | 755 | 70.23 | 70.23 |
1,300,000.01 to 1,400,000.00 | 8 | 10,794,994.46 | 2.71 | 1,349,374.31 | 4.145 | 777 | 67.41 | 68.70 |
1,400,000.01 to 1,500,000.00 | 6 | 8,801,120.06 | 2.21 | 1,466,853.34 | 3.894 | 767 | 66.63 | 66.63 |
1,500,000.01 to 1,600,000.00 | 1 | 1,514,372.03 | 0.38 | 1,514,372.03 | 4.125 | 760 | 63.45 | 63.45 |
1,600,000.01 to 1,700,000.00 | 3 | 4,899,660.51 | 1.23 | 1,633,220.17 | 4.539 | 736 | 70.14 | 70.14 |
1,700,000.01 to 1,800,000.00 | 1 | 1,710,000.00 | 0.43 | 1,710,000.00 | 3.650 | 774 | 58.96 | 58.96 |
1,800,000.01 to 1,900,000.00 | 1 | 1,900,000.00 | 0.48 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
1,900,000.01 to 2,000,000.00 | 1 | 1,911,524.43 | 0.48 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
2,300,000.01 to 2,400,000.00 | 1 | 2,325,000.00 | 0.58 | 2,325,000.00 | 2.950 | 778 | 68.38 | 68.38 |
2,700,000.01 to 2,800,000.00 | 1 | 2,783,781.94 | 0.70 | 2,783,781.94 | 4.000 | 699 | 56.00 | 56.00 |
2,900,000.01 to 3,000,000.00 | 1 | 2,986,402.21 | 0.75 | 2,986,402.21 | 3.750 | 746 | 62.50 | 62.50 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The average loan balance of the mortgage loans as of the cut-off date was approximately $778.632.64.
- 24 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Gross Mortgage Rates of the Mortgage Loans as of the Cut-off Date | ||||||||
Range of Gross Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
2.751 to 3.000 | 4 | 4,628,448.39 | 1.16 | 1,157,112.10 | 2.933 | 790 | 66.45 | 68.88 |
3.001 to 3.250 | 13 | 9,081,010.08 | 2.28 | 698,539.24 | 3.212 | 781 | 59.36 | 62.57 |
3.251 to 3.500 | 40 | 29,605,482.07 | 7.44 | 740,137.05 | 3.454 | 773 | 66.41 | 67.73 |
3.501 to 3.750 | 76 | 61,783,014.31 | 15.53 | 812,934.40 | 3.689 | 769 | 66.88 | 67.90 |
3.751 to 4.000 | 156 | 122,650,729.41 | 30.83 | 786,222.62 | 3.942 | 768 | 64.64 | 65.87 |
4.001 to 4.250 | 142 | 107,113,727.24 | 26.92 | 754,322.02 | 4.181 | 769 | 68.06 | 68.96 |
4.251 to 4.500 | 61 | 47,935,476.39 | 12.05 | 785,827.48 | 4.395 | 768 | 68.95 | 69.65 |
4.501 to 4.750 | 13 | 9,813,533.13 | 2.47 | 754,887.16 | 4.678 | 761 | 68.66 | 69.09 |
4.751 to 5.000 | 6 | 5,269,858.48 | 1.32 | 878,309.75 | 4.896 | 743 | 68.87 | 72.91 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average gross mortgage rate of the mortgage loans as of the cut-off date was approximately 3.99%.
Seasoning of the Mortgage Loans | ||||||||
Seasoning (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0 | 2 | 2,810,000.00 | 0.71 | 1,405,000.00 | 3.474 | 790 | 63.03 | 63.03 |
1 to 2 | 184 | 144,526,107.88 | 36.32 | 785,467.98 | 3.980 | 772 | 67.59 | 68.31 |
3 to 4 | 124 | 99,376,720.74 | 24.98 | 801,425.17 | 3.904 | 769 | 66.36 | 67.14 |
5 to 6 | 58 | 43,112,173.87 | 10.84 | 743,313.34 | 3.858 | 767 | 67.52 | 69.35 |
7 to 8 | 37 | 28,632,202.91 | 7.20 | 773,843.32 | 3.906 | 764 | 64.84 | 66.55 |
9 to 10 | 21 | 15,745,727.51 | 3.96 | 749,796.55 | 4.106 | 768 | 61.24 | 62.30 |
11 to 12 | 20 | 17,554,137.85 | 4.41 | 877,706.89 | 3.938 | 758 | 65.15 | 67.68 |
13 to 14 | 16 | 10,525,707.40 | 2.65 | 657,856.71 | 4.195 | 753 | 63.68 | 64.98 |
15 to 16 | 9 | 6,770,594.04 | 1.70 | 752,288.23 | 4.304 | 773 | 70.11 | 70.11 |
17 to 18 | 10 | 11,063,633.77 | 2.78 | 1,106,363.38 | 4.489 | 765 | 68.01 | 71.83 |
19 to 20 | 6 | 4,586,325.89 | 1.15 | 764,387.65 | 4.681 | 756 | 64.88 | 69.53 |
21 to 22 | 9 | 5,331,421.01 | 1.34 | 592,380.11 | 4.548 | 770 | 71.65 | 71.65 |
23 to 24 | 13 | 6,242,771.57 | 1.57 | 480,213.20 | 4.277 | 772 | 65.28 | 65.28 |
35 to 36 | 1 | 761,320.03 | 0.19 | 761,320.03 | 3.990 | 786 | 60.95 | 60.95 |
37 to 38 | 1 | 842,435.03 | 0.21 | 842,435.03 | 3.990 | 798 | 68.99 | 68.99 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average seasoning of the mortgage loans as of the cut-off date was approximately 6 months.
- 25 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Loan-to-Value Ratio of the Mortgage Loans at Origination | ||||||||
Range of Original Loan-to- | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
15.01 to 20.00 | 1 | 797,639.07 | 0.20 | 797,639.07 | 3.875 | 792 | 17.77 | 28.88 |
20.01 to 25.00 | 2 | 852,032.70 | 0.21 | 426,016.35 | 4.026 | 769 | 21.64 | 46.68 |
25.01 to 30.00 | 2 | 1,203,559.89 | 0.30 | 601,779.95 | 4.010 | 795 | 27.04 | 27.04 |
30.01 to 35.00 | 10 | 7,628,600.92 | 1.92 | 762,860.09 | 3.944 | 777 | 33.06 | 34.85 |
35.01 to 40.00 | 9 | 7,323,080.22 | 1.84 | 813,675.58 | 4.065 | 775 | 37.82 | 42.32 |
40.01 to 45.00 | 17 | 10,860,283.33 | 2.73 | 638,840.20 | 4.079 | 770 | 42.87 | 47.81 |
45.01 to 50.00 | 16 | 11,883,368.72 | 2.99 | 742,710.55 | 3.870 | 765 | 47.37 | 50.52 |
50.01 to 55.00 | 33 | 25,740,771.34 | 6.47 | 780,023.37 | 3.925 | 771 | 52.73 | 54.61 |
55.01 to 60.00 | 55 | 48,457,220.65 | 12.18 | 881,040.38 | 3.923 | 763 | 57.90 | 60.04 |
60.01 to 65.00 | 49 | 39,821,763.10 | 10.01 | 812,689.04 | 3.934 | 767 | 63.03 | 64.48 |
65.01 to 70.00 | 81 | 64,768,823.54 | 16.28 | 799,615.11 | 3.963 | 770 | 68.54 | 69.41 |
70.01 to 75.00 | 86 | 66,994,895.92 | 16.84 | 779,010.42 | 4.039 | 768 | 73.57 | 73.78 |
75.01 to 80.00 | 149 | 110,065,506.17 | 27.66 | 738,694.67 | 4.032 | 769 | 79.19 | 79.19 |
80.01 to 85.00 | 1 | 1,483,733.93 | 0.37 | 1,483,733.93 | 4.250 | 807 | 84.05 | 84.05 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average loan-to-value ratio of the mortgage loans at origination was approximately 66.61%.
- 26 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Combined Loan-to-Value Ratio of the Mortgage Loans at Origination | ||||||||
Range of Original Combined Loan-to-Value Ratios (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20.01 to 25.00 | 1 | 59,006.51 | 0.01 | 59,006.51 | 4.375 | 756 | 23.27 | 23.27 |
25.01 to 30.00 | 3 | 2,001,198.96 | 0.50 | 667,066.32 | 3.956 | 794 | 23.35 | 27.78 |
30.01 to 35.00 | 8 | 6,224,673.57 | 1.56 | 778,084.20 | 3.989 | 775 | 32.75 | 32.75 |
35.01 to 40.00 | 7 | 5,574,692.48 | 1.40 | 796,384.64 | 4.007 | 785 | 37.46 | 37.46 |
40.01 to 45.00 | 13 | 8,166,522.09 | 2.05 | 628,194.01 | 4.083 | 772 | 42.08 | 42.71 |
45.01 to 50.00 | 15 | 11,077,266.07 | 2.78 | 738,484.40 | 3.889 | 768 | 44.58 | 47.27 |
50.01 to 55.00 | 31 | 24,234,257.16 | 6.09 | 781,750.23 | 3.921 | 774 | 52.39 | 52.73 |
55.01 to 60.00 | 54 | 46,078,353.32 | 11.58 | 853,302.84 | 3.918 | 764 | 56.43 | 58.04 |
60.01 to 65.00 | 45 | 37,489,682.51 | 9.42 | 833,104.06 | 3.950 | 767 | 62.69 | 63.06 |
65.01 to 70.00 | 80 | 64,355,308.62 | 16.17 | 804,441.36 | 3.981 | 770 | 67.92 | 68.55 |
70.01 to 75.00 | 90 | 70,106,439.87 | 17.62 | 778,960.44 | 4.018 | 768 | 72.50 | 73.57 |
75.01 to 80.00 | 159 | 118,194,150.95 | 29.71 | 743,359.44 | 4.030 | 769 | 78.04 | 79.16 |
80.01 to 85.00 | 3 | 2,506,874.24 | 0.63 | 835,624.75 | 4.192 | 795 | 78.57 | 84.01 |
85.01 to 90.00 | 2 | 1,812,853.15 | 0.46 | 906,426.58 | 3.564 | 726 | 61.94 | 87.11 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average combined loan-to-value ratio of the mortgage loans at origination was approximately 67.74%. The original combined loan-to value was calculated using the full lien amount (drawn and undrawn) for the second mortgage. Using only the drawn amount of the second mortgage at the time of origination, the weighted average original combined loan-to-value ratio would have been approximately 67.69%.
- 27 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Credit Scores of the Mortgage Loans at Origination | ||||||||
Range of Credit Scores | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
661 to 670 | 2 | 1,610,828.44 | 0.40 | 805,414.22 | 4.160 | 668 | 65.38 | 65.38 |
671 to 680 | 4 | 2,733,548.30 | 0.69 | 683,387.08 | 3.879 | 676 | 68.55 | 71.99 |
681 to 690 | 4 | 3,221,504.74 | 0.81 | 805,376.19 | 4.102 | 687 | 66.00 | 74.91 |
691 to 700 | 6 | 7,939,521.86 | 2.00 | 1,323,253.64 | 3.951 | 697 | 61.79 | 61.79 |
701 to 710 | 8 | 5,367,543.18 | 1.35 | 670,942.90 | 4.189 | 704 | 63.05 | 67.02 |
711 to 720 | 11 | 8,709,650.59 | 2.19 | 791,786.42 | 4.309 | 718 | 70.26 | 70.26 |
721 to 730 | 19 | 15,681,744.66 | 3.94 | 825,354.98 | 4.089 | 726 | 67.38 | 67.38 |
731 to 740 | 30 | 24,709,566.95 | 6.21 | 823,652.23 | 4.025 | 735 | 67.20 | 70.17 |
741 to 750 | 27 | 22,343,318.32 | 5.62 | 827,530.31 | 3.963 | 745 | 69.98 | 70.60 |
751 to 760 | 38 | 30,646,114.93 | 7.70 | 806,476.71 | 4.056 | 756 | 65.71 | 66.13 |
761 to 770 | 60 | 46,580,166.80 | 11.71 | 776,336.11 | 4.014 | 765 | 68.32 | 69.12 |
771 to 780 | 71 | 57,803,060.05 | 14.53 | 814,127.61 | 3.856 | 776 | 66.51 | 68.51 |
781 to 790 | 95 | 71,894,618.08 | 18.07 | 756,785.45 | 3.995 | 786 | 65.75 | 66.94 |
791 to 800 | 83 | 60,692,142.05 | 15.25 | 731,230.63 | 3.987 | 795 | 66.08 | 66.64 |
801 to 810 | 42 | 29,283,795.07 | 7.36 | 697,233.22 | 3.939 | 805 | 66.49 | 67.02 |
811 to 820 | 10 | 7,968,486.16 | 2.00 | 796,848.62 | 3.935 | 813 | 62.45 | 62.45 |
821 to 830 | 1 | 695,669.32 | 0.17 | 695,669.32 | 3.625 | 823 | 78.65 | 78.65 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average credit score of the mortgage loans at origination was approximately 769.
- 28 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Documentation Type of the Mortgage loans | ||||||||
Documentation Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Two Years Income with Assets | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Monthly Income of the Mortgage Borrower at Origination | ||||||||
Range of Monthly Income ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
5,000.01 to 10,000.00 | 8 | 3,266,751.57 | 0.82 | 408,343.95 | 3.925 | 745 | 61.69 | 61.69 |
10,000.01 to 20,000.00 | 164 | 113,299,068.25 | 28.48 | 690,847.98 | 4.017 | 773 | 67.29 | 67.79 |
20,000.01 to 30,000.00 | 162 | 124,690,318.75 | 31.34 | 769,693.33 | 3.977 | 772 | 68.82 | 70.10 |
30,000.01 to 40,000.00 | 83 | 65,938,688.36 | 16.57 | 794,442.03 | 3.969 | 769 | 65.82 | 67.63 |
40,000.01 to 50,000.00 | 27 | 21,777,521.27 | 5.47 | 806,574.86 | 4.016 | 767 | 69.70 | 69.70 |
50,000.01 to 60,000.00 | 22 | 18,735,118.40 | 4.71 | 851,596.29 | 3.856 | 758 | 60.73 | 63.50 |
60,000.01 to 70,000.00 | 14 | 15,508,975.49 | 3.90 | 1,107,783.96 | 3.949 | 757 | 61.52 | 64.02 |
70,000.01 to 80,000.00 | 7 | 8,108,885.79 | 2.04 | 1,158,412.26 | 3.985 | 779 | 58.74 | 58.74 |
80,000.01 to 90,000.00 | 5 | 3,870,410.90 | 0.97 | 774,082.18 | 4.437 | 741 | 65.41 | 65.41 |
90,000.01 to 100,000.00 | 5 | 4,824,260.27 | 1.21 | 964,852.05 | 4.300 | 776 | 76.92 | 76.92 |
100,000.01 to 200,000.00 | 10 | 12,229,739.09 | 3.07 | 1,222,973.91 | 3.976 | 746 | 56.74 | 58.49 |
200,000.01 to 300,000.00 | 2 | 3,977,669.56 | 1.00 | 1,988,834.78 | 3.810 | 755 | 57.53 | 57.53 |
500,000.01 to 600,000.00 | 1 | 760,195.16 | 0.19 | 760,195.16 | 3.500 | 797 | 70.00 | 70.00 |
1,000,000.01 to 1,100,000.00 | 1 | 893,676.64 | 0.22 | 893,676.64 | 3.875 | 732 | 80.00 | 80.00 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average monthly income of the mortgage borrower at origination was approximately $39,366.79.
- 29 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Debt-to-Income Ratio of the Mortgage Loans at Origination | ||||||||
Range of Debt-to-Income Ratios (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0.01 to 5.00 | 1 | 991,267.35 | 0.25 | 991,267.35 | 3.990 | 781 | 42.55 | 42.55 |
5.01 to 10.00 | 9 | 7,793,329.96 | 1.96 | 865,925.55 | 3.888 | 783 | 62.27 | 62.27 |
10.01 to 15.00 | 19 | 17,252,848.25 | 4.34 | 908,044.64 | 3.900 | 759 | 61.76 | 65.13 |
15.01 to 20.00 | 55 | 39,788,428.63 | 10.00 | 723,425.98 | 4.020 | 773 | 66.58 | 67.00 |
20.01 to 25.00 | 74 | 55,598,727.86 | 13.97 | 751,334.16 | 3.964 | 768 | 67.64 | 68.50 |
25.01 to 30.00 | 105 | 77,981,475.98 | 19.60 | 742,680.72 | 3.973 | 771 | 66.36 | 67.95 |
30.01 to 35.00 | 90 | 72,286,592.01 | 18.17 | 803,184.36 | 3.963 | 768 | 64.97 | 66.19 |
35.01 to 40.00 | 81 | 64,183,208.11 | 16.13 | 792,385.29 | 3.983 | 769 | 69.61 | 70.49 |
40.01 to 45.00 | 69 | 55,614,674.13 | 13.98 | 806,009.77 | 4.097 | 765 | 66.79 | 67.79 |
45.01 to 50.00 | 4 | 2,720,211.89 | 0.68 | 680,052.97 | 3.849 | 763 | 71.30 | 71.30 |
50.01 to 55.00 | 2 | 2,011,161.10 | 0.51 | 1,005,580.55 | 4.098 | 783 | 67.94 | 67.94 |
55.01 to 60.00 | 1 | 669,772.07 | 0.17 | 669,772.07 | 3.625 | 735 | 75.00 | 75.00 |
60.01 to 65.00 | 1 | 989,582.16 | 0.25 | 989,582.16 | 3.875 | 802 | 68.96 | 68.96 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average debt-to-income ratio of the mortgage loans at origination was approximately 29.78%.
- 30 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Verified Assets of the Mortgage Borrower at Origination | ||||||||
Range of Assets Verified ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20,000.01 to 50,000.00 | 24 | 15,150,513.80 | 3.81 | 631,271.41 | 4.039 | 772 | 71.94 | 72.37 |
50,000.01 to 100,000.00 | 84 | 58,134,734.51 | 14.61 | 692,080.17 | 4.028 | 765 | 68.30 | 68.59 |
100,000.01 to 150,000.00 | 74 | 53,051,413.54 | 13.33 | 716,910.99 | 3.945 | 772 | 66.06 | 67.69 |
150,000.01 to 200,000.00 | 57 | 44,728,207.88 | 11.24 | 784,705.40 | 4.014 | 766 | 67.92 | 68.69 |
200,000.01 to 250,000.00 | 45 | 33,516,232.06 | 8.42 | 744,805.16 | 3.955 | 770 | 69.62 | 70.53 |
250,000.01 to 300,000.00 | 29 | 21,087,952.04 | 5.30 | 727,170.76 | 4.087 | 768 | 73.30 | 73.30 |
300,000.01 to 350,000.00 | 27 | 20,459,582.57 | 5.14 | 757,762.32 | 3.892 | 766 | 67.55 | 69.15 |
350,000.01 to 400,000.00 | 25 | 19,415,517.39 | 4.88 | 776,620.70 | 4.066 | 768 | 67.49 | 69.88 |
400,000.01 to 450,000.00 | 19 | 15,248,620.33 | 3.83 | 802,558.96 | 3.980 | 770 | 67.93 | 68.84 |
450,000.01 to 500,000.00 | 7 | 5,496,404.89 | 1.38 | 785,200.70 | 4.075 | 770 | 58.98 | 62.02 |
500,000.01 to 550,000.00 | 13 | 10,504,598.26 | 2.64 | 808,046.02 | 3.951 | 770 | 64.59 | 65.35 |
550,000.01 to 600,000.00 | 7 | 6,037,626.37 | 1.52 | 862,518.05 | 4.016 | 769 | 61.03 | 65.80 |
600,000.01 to 650,000.00 | 7 | 5,539,894.38 | 1.39 | 791,413.48 | 3.864 | 774 | 56.60 | 58.30 |
650,000.01 to 700,000.00 | 9 | 7,711,369.00 | 1.94 | 856,818.78 | 4.000 | 776 | 63.96 | 66.56 |
700,000.01 to 750,000.00 | 7 | 7,163,131.46 | 1.80 | 1,023,304.49 | 3.986 | 755 | 60.99 | 60.99 |
750,000.01 to 800,000.00 | 6 | 4,619,232.62 | 1.16 | 769,872.10 | 4.083 | 771 | 52.66 | 54.57 |
800,000.01 to 900,000.00 | 12 | 10,645,073.20 | 2.68 | 887,089.43 | 3.869 | 792 | 65.83 | 65.83 |
900,000.01 to 1,000,000.00 | 8 | 8,074,783.91 | 2.03 | 1,009,347.99 | 4.191 | 766 | 68.37 | 68.37 |
1,000,000.01 to 3,000,000.00 | 42 | 39,758,997.31 | 9.99 | 946,642.79 | 3.948 | 774 | 62.59 | 64.37 |
3,000,000.01 to 5,000,000.00 | 4 | 3,323,323.81 | 0.84 | 830,830.95 | 4.025 | 790 | 69.52 | 74.79 |
5,000,000.01 to 7,000,000.00 | 1 | 1,911,524.43 | 0.48 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
7,000,000.01 to 9,000,000.00 | 1 | 2,783,781.94 | 0.70 | 2,783,781.94 | 4.000 | 699 | 56.00 | 56.00 |
9,000,000.01 to 11,000,000.00 | 1 | 720,442.05 | 0.18 | 720,442.05 | 3.500 | 807 | 52.14 | 52.14 |
11,000,000.01 to 13,000,000.00 | 1 | 1,710,000.00 | 0.43 | 1,710,000.00 | 3.650 | 774 | 58.96 | 58.96 |
13,000,000.01 to 15,000,000.00 | 1 | 1,088,321.75 | 0.27 | 1,088,321.75 | 3.625 | 789 | 50.69 | 50.69 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average verified assets of the mortgage borrowers at origination was approximately $637,226.65.
- 31 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Self-Employment Status of the Mortgage Borrower at Origination | ||||||||
Self-Employed Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Not Self-Employed | 376 | 285,806,108.06 | 71.83 | 760,122.63 | 3.962 | 772 | 66.92 | 68.18 |
Self-Employed | 135 | 112,075,171.44 | 28.17 | 830,186.46 | 4.054 | 761 | 65.83 | 66.62 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 32 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Interest Only Term of the Mortgage Loans at Origination | ||||||||
Interest Only Term (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 491 | 377,880,473.90 | 94.97 | 769,614.00 | 3.992 | 769 | 67.07 | 68.00 |
120 | 20 | 20,000,805.60 | 5.03 | 1,000,040.28 | 3.908 | 772 | 57.96 | 62.86 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Occupancy Type of the Mortgage Loans | ||||||||
Occupancy Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Investment Property | 4 | 2,592,044.62 | 0.65 | 648,011.16 | 4.177 | 778 | 58.09 | 58.09 |
Owner-Occupied | 484 | 377,568,499.27 | 94.89 | 780,100.21 | 3.995 | 768 | 66.95 | 68.14 |
Second Home | 23 | 17,720,735.61 | 4.45 | 770,466.77 | 3.809 | 784 | 60.64 | 60.73 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Loan Purpose of the Mortgage Loans | ||||||||
Loan Purpose | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Cash-Out Refinance | 30 | 26,207,803.00 | 6.59 | 873,593.43 | 4.065 | 754 | 60.08 | 61.19 |
Purchase | 165 | 132,756,967.90 | 33.37 | 804,587.68 | 3.952 | 769 | 72.81 | 73.50 |
Rate Term Refinance | 316 | 238,916,508.60 | 60.05 | 756,064.90 | 3.999 | 770 | 63.89 | 65.26 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 33 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Property Types of the Mortgage Loans | ||||||||
Property Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Single Family | 349 | 278,468,789.18 | 69.99 | 797,904.84 | 3.977 | 769 | 66.09 | 67.23 |
Planned Unit Development | 141 | 100,601,001.50 | 25.28 | 713,482.28 | 4.016 | 768 | 68.01 | 69.05 |
Condominium | 17 | 14,403,347.89 | 3.62 | 847,255.76 | 3.962 | 773 | 68.02 | 69.85 |
Cooperative Unit | 2 | 2,464,741.29 | 0.62 | 1,232,370.65 | 3.858 | 773 | 53.38 | 53.38 |
Two-to-Four Family | 2 | 1,943,399.64 | 0.49 | 971,699.82 | 4.335 | 788 | 75.50 | 75.50 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 34 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Geographic Concentration of the Mortgage Loans (States) | ||||||||
State | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to-Value Ratio (%) |
California | 195 | 170,677,865.29 | 42.90 | 875,271.10 | 3.980 | 770 | 65.29 | 66.53 |
Texas | 71 | 52,626,878.54 | 13.23 | 741,223.64 | 4.100 | 760 | 67.98 | 68.55 |
Massachusetts | 52 | 38,301,468.19 | 9.63 | 736,566.70 | 3.966 | 773 | 63.32 | 65.54 |
Florida | 42 | 29,019,631.92 | 7.29 | 690,943.62 | 3.884 | 762 | 68.58 | 69.22 |
Washington | 22 | 15,654,142.82 | 3.93 | 711,551.95 | 3.950 | 770 | 71.99 | 71.99 |
Illinois | 18 | 13,206,061.09 | 3.32 | 733,670.06 | 4.054 | 774 | 71.21 | 71.21 |
Colorado | 15 | 11,451,469.01 | 2.88 | 763,431.27 | 4.086 | 776 | 71.27 | 71.27 |
Virginia | 8 | 5,686,636.95 | 1.43 | 710,829.62 | 3.950 | 763 | 72.20 | 77.98 |
New York | 6 | 5,152,849.87 | 1.30 | 858,808.31 | 4.080 | 776 | 66.62 | 66.62 |
Connecticut | 3 | 4,772,279.25 | 1.20 | 1,590,759.75 | 3.865 | 752 | 58.09 | 62.28 |
Maryland | 6 | 3,774,879.18 | 0.95 | 629,146.53 | 3.766 | 793 | 67.11 | 69.60 |
Nevada | 5 | 3,364,458.55 | 0.85 | 672,891.71 | 3.662 | 770 | 64.20 | 64.20 |
Georgia | 6 | 3,276,952.00 | 0.82 | 546,158.67 | 4.039 | 779 | 67.98 | 69.86 |
Arizona | 5 | 3,234,641.55 | 0.81 | 646,928.31 | 3.650 | 795 | 58.92 | 62.41 |
New Jersey | 4 | 2,997,780.19 | 0.75 | 749,445.05 | 4.429 | 770 | 65.66 | 65.66 |
Tennessee | 4 | 2,965,391.13 | 0.75 | 741,347.78 | 4.032 | 782 | 65.82 | 65.82 |
Indiana | 4 | 2,881,481.17 | 0.72 | 720,370.29 | 4.018 | 770 | 70.61 | 74.86 |
Oregon | 4 | 2,693,973.34 | 0.68 | 673,493.34 | 3.885 | 744 | 72.54 | 76.65 |
Missouri | 4 | 2,645,205.41 | 0.66 | 661,301.35 | 4.172 | 775 | 78.89 | 78.89 |
Louisiana | 3 | 2,453,509.57 | 0.62 | 817,836.52 | 3.918 | 755 | 66.58 | 66.58 |
South Carolina | 3 | 2,301,343.53 | 0.58 | 767,114.51 | 3.976 | 771 | 64.64 | 64.64 |
North Carolina | 3 | 2,127,619.67 | 0.53 | 709,206.56 | 3.769 | 786 | 70.87 | 70.87 |
Pennsylvania | 3 | 1,891,956.20 | 0.48 | 630,652.07 | 3.955 | 776 | 72.24 | 72.24 |
New Mexico | 3 | 1,819,216.88 | 0.46 | 606,405.63 | 3.805 | 769 | 57.73 | 57.73 |
Minnesota | 3 | 1,572,962.73 | 0.40 | 524,320.91 | 3.943 | 787 | 56.14 | 56.14 |
Delaware | 2 | 1,419,598.91 | 0.36 | 709,799.46 | 3.948 | 784 | 68.95 | 68.95 |
Oklahoma | 2 | 1,366,173.39 | 0.34 | 683,086.70 | 4.262 | 785 | 77.28 | 77.28 |
Michigan | 2 | 1,060,326.03 | 0.27 | 530,163.02 | 3.843 | 771 | 65.43 | 65.43 |
Vermont | 1 | 959,284.44 | 0.24 | 959,284.44 | 4.125 | 764 | 46.92 | 46.92 |
Hawaii | 1 | 876,373.71 | 0.22 | 876,373.71 | 4.250 | 787 | 60.00 | 60.00 |
Mississippi | 1 | 821,770.84 | 0.21 | 821,770.84 | 3.750 | 701 | 63.76 | 63.76 |
Idaho | 1 | 683,194.98 | 0.17 | 683,194.98 | 3.625 | 675 | 77.41 | 77.41 |
Montana | 1 | 645,371.84 | 0.16 | 645,371.84 | 4.375 | 778 | 76.23 | 76.23 |
Iowa | 1 | 558,239.99 | 0.14 | 558,239.99 | 3.750 | 785 | 79.19 | 79.19 |
Alabama | 1 | 551,174.46 | 0.14 | 551,174.46 | 4.500 | 744 | 68.67 | 68.67 |
Arkansas | 1 | 510,692.17 | 0.13 | 510,692.17 | 4.375 | 745 | 80.00 | 80.00 |
Ohio | 1 | 496,985.86 | 0.12 | 496,985.86 | 3.375 | 791 | 59.64 | 59.64 |
Kansas | 1 | 449,995.88 | 0.11 | 449,995.88 | 3.875 | 794 | 80.00 | 80.00 |
Kentucky | 1 | 446,804.38 | 0.11 | 446,804.38 | 4.125 | 808 | 80.00 | 80.00 |
Rhode Island | 1 | 345,888.98 | 0.09 | 345,888.98 | 4.125 | 810 | 55.72 | 55.72 |
South Dakota | 1 | 138,749.61 | 0.03 | 138,749.61 | 4.125 | 748 | 73.62 | 73.62 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 35 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Geographic Concentration of the Mortgage Loans (Top 10 Cities) | ||||||||
City | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
San Francisco, CA | 21 | 20,197,830.98 | 5.08 | 961,801.48 | 3.939 | 770 | 68.94 | 73.57 |
Los Angeles, CA | 9 | 9,748,944.44 | 2.45 | 1,083,216.05 | 4.207 | 753 | 70.57 | 70.57 |
Dallas, TX | 12 | 8,718,769.77 | 2.19 | 726,564.15 | 3.990 | 761 | 72.85 | 72.85 |
San Diego, CA | 10 | 7,168,632.40 | 1.80 | 716,863.24 | 3.936 | 778 | 66.78 | 66.78 |
Houston, TX | 9 | 7,113,424.76 | 1.79 | 790,380.53 | 4.265 | 763 | 65.29 | 65.29 |
Austin, TX | 8 | 5,484,003.03 | 1.38 | 685,500.38 | 3.911 | 772 | 69.02 | 69.02 |
Menlo Park, CA | 6 | 5,143,142.05 | 1.29 | 857,190.34 | 4.272 | 776 | 58.58 | 58.58 |
La Jolla, CA | 5 | 5,063,191.30 | 1.27 | 1,012,638.26 | 4.028 | 769 | 74.26 | 77.60 |
San Mateo, CA | 5 | 4,997,795.04 | 1.26 | 999,559.01 | 3.949 | 783 | 60.64 | 60.64 |
Bellaire, TX | 7 | 4,856,547.76 | 1.22 | 693,792.54 | 4.109 | 747 | 70.91 | 70.91 |
Other | 419 | 319,388,997.97 | 80.27 | 762,264.91 | 3.974 | 769 | 66.20 | 67.25 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Original Term to Maturity of the Mortgage Loans | ||||||||
Original Term to Maturity (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
120 | 6 | 3,952,834.03 | 0.99 | 658,805.67 | 3.268 | 779 | 65.03 | 66.76 |
180 | 114 | 75,949,787.87 | 19.09 | 666,226.21 | 4.068 | 765 | 64.48 | 65.26 |
240 | 1 | 773,778.39 | 0.19 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
360 | 390 | 317,204,879.21 | 79.72 | 813,345.84 | 3.979 | 770 | 67.12 | 68.33 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average original term to maturity of the mortgage loans at origination was approximately 323 months.
- 36 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Remaining Term to Maturity of the Mortgage Loans | ||||||||
Remaining Term to Maturity (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
111 to 115 | 4 | 2,610,325.18 | 0.66 | 652,581.30 | 3.388 | 771 | 70.71 | 73.33 |
116 to 120 | 2 | 1,342,508.85 | 0.34 | 671,254.43 | 3.036 | 795 | 53.99 | 53.99 |
156 to 160 | 23 | 12,775,088.24 | 3.21 | 555,438.62 | 4.493 | 766 | 66.27 | 67.94 |
161 to 165 | 13 | 10,784,798.90 | 2.71 | 829,599.92 | 4.630 | 749 | 72.78 | 72.78 |
166 to 170 | 23 | 15,471,804.32 | 3.89 | 672,687.14 | 4.130 | 760 | 66.40 | 67.15 |
171 to 175 | 25 | 17,826,460.25 | 4.48 | 713,058.41 | 4.017 | 768 | 62.41 | 62.88 |
176 to 180 | 30 | 19,091,636.16 | 4.80 | 636,387.87 | 3.464 | 775 | 58.99 | 59.92 |
231 to 235 | 1 | 773,778.39 | 0.19 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
321 to 325 | 2 | 1,603,755.06 | 0.40 | 801,877.53 | 3.990 | 792 | 65.17 | 65.17 |
336 to 340 | 2 | 1,128,809.45 | 0.28 | 564,404.73 | 4.067 | 797 | 68.03 | 68.03 |
341 to 345 | 9 | 9,306,049.69 | 2.34 | 1,034,005.52 | 4.223 | 787 | 65.10 | 69.65 |
346 to 350 | 18 | 17,086,776.88 | 4.29 | 949,265.38 | 3.990 | 751 | 62.33 | 65.53 |
351 to 355 | 81 | 61,800,804.52 | 15.53 | 762,972.90 | 3.898 | 767 | 66.32 | 68.27 |
356 to 360 | 278 | 226,278,683.61 | 56.87 | 813,952.10 | 3.989 | 771 | 67.80 | 68.53 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
The weighted average remaining term to maturity of the mortgage loans as of the cut-off date was approximately 317 months.
Prepayment Penalty Term of the Mortgage Loans at Origination | ||||||||
Prepayment Penalty Term | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 488 | 370,685,231.88 | 93.16 | 759,600.89 | 4.006 | 769 | 66.48 | 67.48 |
48 | 2 | 3,180,000.00 | 0.80 | 1,590,000.00 | 2.990 | 778 | 63.92 | 70.93 |
60 | 21 | 24,016,047.62 | 6.04 | 1,143,621.32 | 3.836 | 768 | 69.04 | 71.38 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 37 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Originators of the Mortgage Loans | ||||||||
Originator | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
EverBank | 201 | 146,773,043.49 | 36.89 | 730,214.15 | 3.994 | 765 | 67.24 | 68.28 |
First Republic | 24 | 27,978,880.75 | 7.03 | 1,165,786.70 | 3.751 | 769 | 68.47 | 71.28 |
Prime Lending | 30 | 23,375,936.64 | 5.88 | 779,197.89 | 3.819 | 767 | 68.00 | 68.48 |
Fremont Bank | 29 | 22,558,052.01 | 5.67 | 777,863.86 | 3.980 | 772 | 65.47 | 66.37 |
Flagstar Bank, F.S.B. | 26 | 21,761,379.22 | 5.47 | 836,976.12 | 4.188 | 768 | 64.55 | 65.12 |
Rockland Trust Company | 29 | 21,239,688.38 | 5.34 | 732,403.05 | 4.049 | 771 | 59.05 | 61.89 |
PHH | 7 | 6,241,786.22 | 1.57 | 891,683.75 | 4.392 | 770 | 67.61 | 70.82 |
Other | 165 | 127,952,512.79 | 32.16 | 775,469.77 | 4.001 | 773 | 66.99 | 67.72 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Channel of the Mortgage Loans | ||||||||
Channel | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Retail | 370 | 285,960,717.98 | 71.87 | 772,866.81 | 3.932 | 771 | 66.93 | 68.09 |
Broker | 110 | 87,765,021.29 | 22.06 | 797,863.83 | 4.150 | 762 | 65.84 | 66.77 |
Correspondent | 31 | 24,155,540.23 | 6.07 | 779,210.98 | 4.060 | 772 | 65.69 | 67.09 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Servicers of the Mortgage Loans | ||||||||
Servicer | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Cenlar, F.S.B. | 279 | 216,887,569.04 | 54.51 | 777,374.80 | 4.003 | 772 | 65.92 | 66.83 |
EverBank | 201 | 146,773,043.49 | 36.89 | 730,214.15 | 3.994 | 765 | 67.24 | 68.28 |
First Republic Bank | 24 | 27,978,880.75 | 7.03 | 1,165,786.70 | 3.751 | 769 | 68.47 | 71.28 |
PHH | 7 | 6,241,786.22 | 1.57 | 891,683.75 | 4.392 | 770 | 67.61 | 70.82 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 38 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Lien Position of the Mortgage Loans at Origination | ||||||||
Lien Position | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
First Lien | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Loans with Seconds at Origination | ||||||||
Loans with Seconds at Origination | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 468 | 364,801,475.23 | 91.69 | 779,490.33 | 3.993 | 769 | 67.71 | 67.71 |
Has Second Lien at Origination | 43 | 33,079,804.27 | 8.31 | 769,297.77 | 3.927 | 765 | 54.58 | 68.12 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Mortgage Insurance Status of the Mortgage Loans at Origination | ||||||||
Mortgage Insurance Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
No Mortgage Insurance | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 39 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) |
Collateral characteristics are listed below as of the Cut-off Date |
Origination Date of the Mortgage Loans | ||||||||
Origination Date | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
October 2009 | 1 | 842,435.03 | 0.21 | 842,435.03 | 3.990 | 798 | 68.99 | 68.99 |
December 2009 | 1 | 761,320.03 | 0.19 | 761,320.03 | 3.990 | 786 | 60.95 | 60.95 |
December 2010 | 1 | 647,840.72 | 0.16 | 647,840.72 | 4.125 | 794 | 68.71 | 68.71 |
January 2011 | 12 | 5,594,930.85 | 1.41 | 466,244.24 | 4.294 | 769 | 64.88 | 64.88 |
February 2011 | 2 | 1,322,665.04 | 0.33 | 661,332.52 | 4.635 | 789 | 76.73 | 76.73 |
March 2011 | 7 | 4,008,755.97 | 1.01 | 572,679.42 | 4.519 | 764 | 69.98 | 69.98 |
April 2011 | 3 | 2,329,705.11 | 0.59 | 776,568.37 | 4.741 | 758 | 57.47 | 66.62 |
May 2011 | 3 | 2,256,620.78 | 0.57 | 752,206.93 | 4.620 | 754 | 72.54 | 72.54 |
June 2011 | 5 | 5,425,346.93 | 1.36 | 1,085,069.39 | 4.416 | 774 | 61.82 | 66.39 |
July 2011 | 5 | 5,638,286.84 | 1.42 | 1,127,657.37 | 4.559 | 756 | 73.96 | 77.06 |
August 2011 | 7 | 5,216,941.15 | 1.31 | 745,277.31 | 4.372 | 767 | 69.25 | 69.25 |
September 2011 | 2 | 1,553,652.89 | 0.39 | 776,826.45 | 4.077 | 794 | 72.99 | 72.99 |
October 2011 | 4 | 2,817,976.67 | 0.71 | 704,494.17 | 4.180 | 792 | 69.07 | 70.57 |
November 2011 | 12 | 7,707,730.73 | 1.94 | 642,310.89 | 4.201 | 739 | 61.72 | 62.94 |
December 2011 | 13 | 11,496,107.74 | 2.89 | 884,315.98 | 3.821 | 763 | 63.66 | 67.52 |
January 2012 | 7 | 6,058,030.11 | 1.52 | 865,432.87 | 4.159 | 747 | 67.99 | 67.99 |
February 2012 | 5 | 4,478,735.95 | 1.13 | 895,747.19 | 4.197 | 750 | 62.12 | 63.96 |
March 2012 | 18 | 12,686,006.05 | 3.19 | 704,778.11 | 4.069 | 771 | 61.32 | 61.98 |
April 2012 | 6 | 4,710,308.32 | 1.18 | 785,051.39 | 3.881 | 766 | 59.94 | 59.94 |
May 2012 | 29 | 22,502,880.10 | 5.66 | 775,961.38 | 3.901 | 765 | 65.88 | 68.05 |
June 2012 | 32 | 21,909,447.46 | 5.51 | 684,670.23 | 3.860 | 769 | 64.21 | 67.25 |
July 2012 | 27 | 21,788,620.89 | 5.48 | 806,985.96 | 3.839 | 767 | 71.19 | 71.75 |
August 2012 | 76 | 60,163,123.65 | 15.12 | 791,620.05 | 3.891 | 769 | 66.41 | 67.38 |
September 2012 | 50 | 41,299,744.33 | 10.38 | 825,994.89 | 3.963 | 769 | 67.00 | 67.68 |
October 2012 | 153 | 119,201,106.70 | 29.96 | 779,092.20 | 3.988 | 773 | 66.99 | 67.67 |
November 2012 | 30 | 25,462,959.46 | 6.40 | 848,765.32 | 3.845 | 772 | 68.55 | 69.10 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 40 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Maturity Date of the Mortgage Loans | ||||||||
Maturity Date | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
July 2022 | 4 | 2,610,325.18 | 0.66 | 652,581.30 | 3.388 | 771 | 70.71 | 73.33 |
September 2022 | 2 | 1,342,508.85 | 0.34 | 671,254.43 | 3.036 | 795 | 53.99 | 53.99 |
February 2026 | 12 | 5,594,930.85 | 1.41 | 466,244.24 | 4.294 | 769 | 64.88 | 64.88 |
March 2026 | 2 | 1,322,665.04 | 0.33 | 661,332.52 | 4.635 | 789 | 76.73 | 76.73 |
April 2026 | 7 | 4,008,755.97 | 1.01 | 572,679.42 | 4.519 | 764 | 69.98 | 69.98 |
May 2026 | 2 | 1,848,736.38 | 0.46 | 924,368.19 | 4.936 | 747 | 54.96 | 66.49 |
June 2026 | 2 | 1,779,693.16 | 0.45 | 889,846.58 | 4.789 | 742 | 75.56 | 75.56 |
July 2026 | 3 | 2,769,992.48 | 0.70 | 923,330.83 | 4.612 | 766 | 67.16 | 67.16 |
August 2026 | 3 | 3,278,286.84 | 0.82 | 1,092,762.28 | 4.771 | 732 | 74.95 | 74.95 |
September 2026 | 4 | 2,400,173.53 | 0.60 | 600,043.38 | 4.458 | 747 | 73.46 | 73.46 |
October 2026 | 1 | 556,652.89 | 0.14 | 556,652.89 | 4.125 | 800 | 76.17 | 76.17 |
November 2026 | 2 | 1,324,762.71 | 0.33 | 662,381.36 | 4.000 | 796 | 75.61 | 75.61 |
December 2026 | 9 | 5,886,764.84 | 1.48 | 654,084.98 | 4.213 | 739 | 61.47 | 63.06 |
January 2027 | 8 | 5,613,906.04 | 1.41 | 701,738.26 | 4.087 | 776 | 66.92 | 67.30 |
February 2027 | 3 | 1,879,371.05 | 0.47 | 626,457.02 | 4.140 | 747 | 73.08 | 73.08 |
March 2027 | 1 | 766,999.68 | 0.19 | 766,999.68 | 4.000 | 773 | 68.14 | 68.14 |
April 2027 | 9 | 5,566,418.72 | 1.40 | 618,490.97 | 4.045 | 779 | 63.22 | 64.73 |
May 2027 | 4 | 3,422,542.95 | 0.86 | 855,635.74 | 4.003 | 750 | 57.32 | 57.32 |
June 2027 | 3 | 2,083,162.13 | 0.52 | 694,387.38 | 3.906 | 764 | 63.00 | 63.00 |
July 2027 | 6 | 3,497,054.21 | 0.88 | 582,842.37 | 3.910 | 773 | 72.40 | 72.40 |
August 2027 | 3 | 3,257,282.24 | 0.82 | 1,085,760.75 | 4.167 | 767 | 55.23 | 55.23 |
September 2027 | 12 | 7,406,323.76 | 1.86 | 617,193.65 | 3.402 | 772 | 63.86 | 65.13 |
October 2027 | 14 | 9,115,133.94 | 2.29 | 651,081.00 | 3.449 | 777 | 58.33 | 58.33 |
November 2027 | 4 | 2,570,178.46 | 0.65 | 642,544.62 | 3.699 | 774 | 47.29 | 50.57 |
August 2032 | 1 | 773,778.39 | 0.19 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
November 2039 | 1 | 842,435.03 | 0.21 | 842,435.03 | 3.990 | 798 | 68.99 | 68.99 |
January 2040 | 1 | 761,320.03 | 0.19 | 761,320.03 | 3.990 | 786 | 60.95 | 60.95 |
January 2041 | 1 | 647,840.72 | 0.16 | 647,840.72 | 4.125 | 794 | 68.71 | 68.71 |
May 2041 | 1 | 480,968.73 | 0.12 | 480,968.73 | 3.990 | 802 | 67.11 | 67.11 |
June 2041 | 1 | 476,927.62 | 0.12 | 476,927.62 | 3.990 | 798 | 61.25 | 61.25 |
July 2041 | 2 | 2,655,354.45 | 0.67 | 1,327,677.23 | 4.212 | 782 | 56.25 | 65.58 |
August 2041 | 2 | 2,360,000.00 | 0.59 | 1,180,000.00 | 4.265 | 790 | 72.58 | 80.00 |
September 2041 | 3 | 2,816,767.62 | 0.71 | 938,922.54 | 4.299 | 785 | 65.67 | 65.67 |
October 2041 | 1 | 997,000.00 | 0.25 | 997,000.00 | 4.050 | 790 | 71.21 | 71.21 |
November 2041 | 2 | 1,493,213.96 | 0.38 | 746,606.98 | 4.340 | 788 | 63.26 | 66.09 |
December 2041 | 3 | 1,820,965.89 | 0.46 | 606,988.63 | 4.160 | 737 | 62.53 | 62.53 |
January 2042 | 5 | 5,882,201.70 | 1.48 | 1,176,440.34 | 3.567 | 751 | 60.55 | 67.73 |
February 2042 | 4 | 4,178,659.06 | 1.05 | 1,044,664.77 | 4.168 | 747 | 65.70 | 65.70 |
March 2042 | 4 | 3,711,736.27 | 0.93 | 927,934.07 | 4.237 | 746 | 60.88 | 63.09 |
April 2042 | 7 | 5,700,572.84 | 1.43 | 814,367.55 | 4.094 | 771 | 58.61 | 58.61 |
May 2042 | 4 | 2,706,779.86 | 0.68 | 676,694.97 | 3.822 | 771 | 65.74 | 65.74 |
June 2042 | 26 | 20,419,717.97 | 5.13 | 785,373.77 | 3.901 | 765 | 66.17 | 68.56 |
July 2042 | 23 | 16,545,672.87 | 4.16 | 719,377.08 | 3.935 | 767 | 62.16 | 65.77 |
August 2042 | 21 | 16,428,060.98 | 4.13 | 782,288.62 | 3.800 | 766 | 73.46 | 74.20 |
September 2042 | 60 | 49,582,645.72 | 12.46 | 826,377.43 | 3.980 | 767 | 67.19 | 68.15 |
October 2042 | 36 | 31,930,108.47 | 8.03 | 886,947.46 | 4.067 | 769 | 68.45 | 69.11 |
November 2042 | 148 | 115,335,629.73 | 28.99 | 779,294.80 | 4.013 | 773 | 68.14 | 68.85 |
December 2042 | 32 | 26,620,299.69 | 6.69 | 831,884.37 | 3.865 | 769 | 67.17 | 67.70 |
January 2043 | 2 | 2,810,000.00 | 0.71 | 1,405,000.00 | 3.474 | 790 | 63.03 | 63.03 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 41 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Delinquency Status of the Mortgage Loans | ||||||||
Delinquency Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Current | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Historical Delinquency of the Mortgage Loans | ||||||||
Historical Delinquency (Past 12 Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Never Delinquent | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
Total: | 511 | 397,881,279.50 | 100.00 | 778,632.64 | 3.988 | 769 | 66.61 | 67.74 |
- 42 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Months to Next Rate Adjustment Date of the Hybrid Mortgage Loans | ||||||||
Months to Next Rate Adjustment | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
47 | 1 | 821,770.84 | 0.98 | 821,770.84 | 3.750 | 701 | 63.76 | 63.76 |
48 | 2 | 3,180,000.00 | 3.80 | 1,590,000.00 | 2.990 | 778 | 63.92 | 70.93 |
49 | 1 | 1,101,151.43 | 1.32 | 1,101,151.43 | 3.750 | 741 | 70.00 | 70.00 |
51 | 1 | 789,019.18 | 0.94 | 789,019.18 | 3.750 | 742 | 57.55 | 57.55 |
52 | 2 | 1,272,401.18 | 1.52 | 636,200.59 | 3.560 | 774 | 65.35 | 65.35 |
53 | 3 | 1,917,812.96 | 2.29 | 639,270.99 | 3.579 | 792 | 67.15 | 67.15 |
54 | 2 | 1,478,078.10 | 1.77 | 739,039.05 | 3.747 | 797 | 67.93 | 67.93 |
55 | 1 | 749,450.16 | 0.90 | 749,450.16 | 3.625 | 778 | 70.00 | 70.00 |
56 | 1 | 894,185.06 | 1.07 | 894,185.06 | 3.375 | 762 | 75.00 | 75.00 |
57 | 1 | 780,861.56 | 0.93 | 780,861.56 | 2.875 | 809 | 45.37 | 59.82 |
77 | 1 | 1,010,086.69 | 1.21 | 1,010,086.69 | 3.375 | 798 | 68.00 | 68.00 |
102 | 1 | 1,900,000.00 | 2.27 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
103 | 2 | 2,360,000.00 | 2.82 | 1,180,000.00 | 4.265 | 790 | 72.58 | 80.00 |
104 | 1 | 1,372,651.61 | 1.64 | 1,372,651.61 | 4.625 | 767 | 75.00 | 75.00 |
105 | 1 | 997,000.00 | 1.19 | 997,000.00 | 4.050 | 790 | 71.21 | 71.21 |
106 | 2 | 1,493,213.96 | 1.78 | 746,606.98 | 4.340 | 788 | 63.26 | 66.09 |
107 | 2 | 999,195.05 | 1.19 | 499,597.53 | 4.497 | 766 | 61.51 | 61.51 |
108 | 2 | 1,631,238.04 | 1.95 | 815,619.02 | 4.331 | 752 | 53.03 | 65.29 |
109 | 1 | 1,665,398.05 | 1.99 | 1,665,398.05 | 4.375 | 734 | 69.10 | 69.10 |
110 | 2 | 1,928,949.84 | 2.31 | 964,474.92 | 4.466 | 733 | 68.10 | 68.10 |
111 | 1 | 563,481.96 | 0.67 | 563,481.96 | 4.375 | 779 | 61.67 | 61.67 |
113 | 18 | 15,328,497.56 | 18.32 | 851,583.20 | 3.963 | 758 | 66.18 | 69.15 |
114 | 16 | 11,527,833.48 | 13.78 | 720,489.59 | 3.900 | 767 | 65.72 | 67.71 |
115 | 13 | 10,455,824.73 | 12.49 | 804,294.21 | 3.564 | 765 | 74.00 | 74.00 |
116 | 21 | 17,467,197.46 | 20.87 | 831,771.31 | 3.740 | 761 | 63.88 | 64.90 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average months to next rate adjustment of Hybrid mortgage loans in the aggregate pool as of the cut-off date was approximately 103 months.
- 43 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Index of the Hybrid Mortgage Loans | ||||||||
Index | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
One-Month LIBOR | 7 | 9,437,000.00 | 11.28 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
One-Year LIBOR | 92 | 74,248,298.90 | 88.72 | 807,046.73 | 3.843 | 762 | 66.56 | 68.20 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Rate Adjustment Frequency of the Hybrid Mortgage Loans | ||||||||
Rate Adjustment Frequency | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Annually | 92 | 74,248,298.90 | 88.72 | 807,046.73 | 3.843 | 762 | 66.56 | 68.20 |
Monthly | 7 | 9,437,000.00 | 11.28 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Margin of the Hybrid Mortgage Loans | ||||||||
Margin (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
1.450 | 1 | 855,000.00 | 1.02 | 855,000.00 | 3.100 | 778 | 51.81 | 77.87 |
1.625 | 6 | 8,582,000.00 | 10.26 | 1,430,333.33 | 3.884 | 784 | 65.65 | 70.57 |
2.250 | 91 | 73,755,084.94 | 88.13 | 810,495.44 | 3.838 | 762 | 66.50 | 68.09 |
2.750 | 1 | 493,213.96 | 0.59 | 493,213.96 | 4.625 | 762 | 75.00 | 83.58 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average margin of the Hybrid mortgage loans in the aggregate pool at origination was approximately 2.18%.
- 44 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Initial Fixed Rate Period of the Hybrid Mortgage Loans | ||||||||
(Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
60 | 15 | 12,984,730.47 | 15.52 | 865,648.70 | 3.434 | 772 | 65.11 | 67.70 |
84 | 1 | 1,010,086.69 | 1.21 | 1,010,086.69 | 3.375 | 798 | 68.00 | 68.00 |
120 | 83 | 69,690,481.74 | 83.28 | 839,644.36 | 3.922 | 763 | 66.51 | 68.70 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Initial Periodic Cap of the Hybrid Mortgage Loans | ||||||||
Initial Periodic Cap (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
5.000 | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Subsequent Periodic Cap of the Hybrid Mortgage Loans | ||||||||
Subsequent Periodic Cap (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 7 | 9,437,000.00 | 11.28 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
2.000 | 92 | 74,248,298.90 | 88.72 | 807,046.73 | 3.843 | 762 | 66.56 | 68.20 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
- 45 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Aggregate Pool) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Maximum Mortgage Rate of the Hybrid Mortgage Loans | ||||||||
Range of Maximum Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
7.751 to 8.000 | 3 | 3,861,290.68 | 4.61 | 1,287,096.89 | 2.945 | 788 | 66.00 | 68.92 |
8.001 to 8.250 | 2 | 1,789,037.96 | 2.14 | 894,518.98 | 3.178 | 765 | 48.54 | 60.99 |
8.251 to 8.500 | 20 | 15,582,171.07 | 18.62 | 779,108.55 | 3.455 | 778 | 70.25 | 72.21 |
8.501 to 8.750 | 28 | 20,793,139.53 | 24.85 | 742,612.13 | 3.687 | 763 | 68.98 | 70.36 |
8.751 to 9.000 | 17 | 15,617,318.34 | 18.66 | 918,665.78 | 3.941 | 749 | 63.88 | 65.51 |
9.001 to 9.250 | 14 | 11,354,090.37 | 13.57 | 811,006.46 | 4.168 | 765 | 62.31 | 65.76 |
9.251 to 9.500 | 11 | 11,630,418.67 | 13.90 | 1,057,310.79 | 4.366 | 762 | 65.97 | 68.10 |
9.501 to 9.750 | 4 | 3,057,832.28 | 3.65 | 764,458.07 | 4.625 | 767 | 67.41 | 68.79 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average maximum rate of the Hybrid mortgage loans in the aggregate pool at origination was approximately 8.84%.
Minimum Mortgage Rate of the Hybrid Mortgage Loans | ||||||||
Range of Minimum Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
2.001 to 2.250 | 91 | 73,755,084.94 | 88.13 | 810,495.44 | 3.838 | 762 | 66.50 | 68.09 |
2.501 to 2.750 | 2 | 2,818,213.96 | 3.37 | 1,409,106.98 | 3.243 | 775 | 69.54 | 71.04 |
2.751 to 3.000 | 6 | 7,112,000.00 | 8.50 | 1,185,333.33 | 4.095 | 785 | 63.09 | 72.17 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average minimum rate of the Hybrid mortgage loans in the aggregate pool at origination was approximately 2.32%.
- 46 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Collateral Summary (Pool 1) | |||
Statistics for the Mortgage Loans listed below are based on Cut-off Date scheduled balances. | |||
Minimum | Maximum | ||
Scheduled Principal Balance: | $163,587,920.80 | $34,446.34 | $2,783,781.94 |
Number of Mortgage Loans: | 219 | ||
15 Year Fixed Rate Percentage: | 46.43% | ||
10 Year Fixed Rate Percentage: | 2.42% | ||
Hybrid 5 Year Fixed: | 7.94% | ||
Hybrid 7 Year Fixed: | 0.62% | ||
Hybrid 10 Year Fixed: | 42.60% | ||
Average Scheduled Principal Balance: | $746,976.81 | ||
Weighted Average Gross Mortgage Rate: | 3.932% | 2.875% | 5.000% |
Weighted Average Seasoning: | 9 Months | 2 Months | 23 Months |
Weighted Average Original LTV Ratio: | 65.43% | 21.52% | 80.00% |
Weighted Average Original Combined LTV Ratio: | 66.97% | 23.27% | 87.69% |
Weighted Average Original Credit Score: | 765 | 670 | 823 |
Weighted Average Original Debt-to-Income Ratio: | 29.26% | 8.60% | 60.07% |
Original Interest Only (10 Years) Loans Percentage: | 12.23% | ||
Weighted Average Original Term to Maturity: | 271 Months | 120 Months | 360 Months |
Weighted Average Remaining Term to Maturity: | 262 Months | 114 Months | 357 Months |
First Lien Percentage at Origination: | 100% | ||
Loans with Seconds at Origination: | 9.73% |
- 47 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Product Type of the Mortgage Loans | ||||||||
Product Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
10 Years Fixed Rate | 6 | 3,952,834.03 | 2.42 | 658,805.67 | 3.268 | 779 | 65.03 | 66.76 |
15 Years Fixed Rate | 114 | 75,949,787.87 | 46.43 | 666,226.21 | 4.068 | 765 | 64.48 | 65.26 |
Hybrid 5 Year Fixed | 15 | 12,984,730.47 | 7.94 | 865,648.70 | 3.434 | 772 | 65.11 | 67.70 |
Hybrid 7 Year Fixed | 1 | 1,010,086.69 | 0.62 | 1,010,086.69 | 3.375 | 798 | 68.00 | 68.00 |
Hybrid 10 Year Fixed | 83 | 69,690,481.74 | 42.60 | 839,644.36 | 3.922 | 763 | 66.51 | 68.70 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 48 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Principal Balances of the Mortgage Loans at Origination | ||||||||
Range of Original Principal Balances ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0.01 to 100,000.00 | 2 | 93,452.85 | 0.06 | 46,726.43 | 4.191 | 773 | 29.71 | 29.71 |
100,000.01 to 200,000.00 | 2 | 276,237.87 | 0.17 | 138,118.94 | 3.876 | 772 | 65.92 | 65.92 |
200,000.01 to 300,000.00 | 1 | 175,737.28 | 0.11 | 175,737.28 | 4.250 | 707 | 42.22 | 42.22 |
400,000.01 to 500,000.00 | 9 | 4,063,121.74 | 2.48 | 451,457.97 | 3.884 | 773 | 65.30 | 65.30 |
500,000.01 to 600,000.00 | 53 | 28,147,621.96 | 17.21 | 531,087.21 | 3.960 | 768 | 63.73 | 65.04 |
600,000.01 to 700,000.00 | 43 | 26,957,959.91 | 16.48 | 626,929.30 | 3.882 | 771 | 66.83 | 67.17 |
700,000.01 to 800,000.00 | 31 | 22,962,848.54 | 14.04 | 740,737.05 | 3.750 | 773 | 65.66 | 67.45 |
800,000.01 to 900,000.00 | 28 | 23,442,630.92 | 14.33 | 837,236.82 | 3.833 | 764 | 68.05 | 69.91 |
900,000.01 to 1,000,000.00 | 24 | 22,575,772.53 | 13.80 | 940,657.19 | 3.940 | 762 | 67.62 | 71.03 |
1,000,000.01 to 1,100,000.00 | 5 | 5,108,509.87 | 3.12 | 1,021,701.97 | 4.067 | 749 | 51.88 | 55.80 |
1,100,000.01 to 1,200,000.00 | 4 | 4,402,960.86 | 2.69 | 1,100,740.22 | 3.842 | 776 | 57.60 | 57.60 |
1,200,000.01 to 1,300,000.00 | 4 | 4,070,611.04 | 2.49 | 1,017,652.76 | 4.442 | 753 | 71.52 | 71.52 |
1,300,000.01 to 1,400,000.00 | 5 | 6,545,817.23 | 4.00 | 1,309,163.45 | 4.317 | 770 | 64.72 | 64.72 |
1,400,000.01 to 1,500,000.00 | 2 | 2,856,195.75 | 1.75 | 1,428,097.88 | 4.106 | 768 | 66.01 | 66.01 |
1,600,000.01 to 1,700,000.00 | 2 | 3,289,200.17 | 2.01 | 1,644,600.09 | 4.375 | 743 | 67.76 | 67.76 |
1,700,000.01 to 1,800,000.00 | 1 | 1,610,460.34 | 0.98 | 1,610,460.34 | 4.875 | 720 | 75.00 | 75.00 |
1,800,000.01 to 1,900,000.00 | 1 | 1,900,000.00 | 1.16 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
2,300,000.01 to 2,400,000.00 | 1 | 2,325,000.00 | 1.42 | 2,325,000.00 | 2.950 | 778 | 68.38 | 68.38 |
2,700,000.01 to 2,800,000.00 | 1 | 2,783,781.94 | 1.70 | 2,783,781.94 | 4.000 | 699 | 56.00 | 56.00 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The average loan balance of the mortgage loans at origination was approximately $776,156.08.
- 49 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Scheduled Principal Balances of the Mortgage Loans as of the Cut-off-Date | ||||||||
Range of Current Principal Balances ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0.01 to 100,000.00 | 2 | 93,452.85 | 0.06 | 46,726.43 | 4.191 | 773 | 29.71 | 29.71 |
100,000.01 to 200,000.00 | 3 | 451,975.15 | 0.28 | 150,658.38 | 4.022 | 747 | 56.71 | 56.71 |
200,000.01 to 300,000.00 | 1 | 212,016.27 | 0.13 | 212,016.27 | 4.625 | 773 | 70.00 | 70.00 |
300,000.01 to 400,000.00 | 2 | 664,209.85 | 0.41 | 332,104.93 | 3.766 | 809 | 60.64 | 60.64 |
400,000.01 to 500,000.00 | 17 | 8,129,414.06 | 4.97 | 478,200.83 | 4.032 | 764 | 66.63 | 67.42 |
500,000.01 to 600,000.00 | 53 | 29,274,271.82 | 17.90 | 552,344.75 | 3.928 | 768 | 64.94 | 65.98 |
600,000.01 to 700,000.00 | 36 | 23,400,472.36 | 14.30 | 650,013.12 | 3.865 | 769 | 65.46 | 65.86 |
700,000.01 to 800,000.00 | 34 | 25,643,009.84 | 15.68 | 754,206.17 | 3.810 | 776 | 66.13 | 67.73 |
800,000.01 to 900,000.00 | 26 | 22,162,349.04 | 13.55 | 852,398.04 | 3.823 | 760 | 67.98 | 70.37 |
900,000.01 to 1,000,000.00 | 21 | 20,124,412.22 | 12.30 | 958,305.34 | 3.933 | 767 | 66.77 | 70.13 |
1,000,000.01 to 1,100,000.00 | 5 | 5,248,855.07 | 3.21 | 1,049,771.01 | 3.960 | 750 | 50.37 | 54.18 |
1,100,000.01 to 1,200,000.00 | 5 | 5,647,540.83 | 3.45 | 1,129,508.17 | 4.112 | 769 | 66.23 | 66.23 |
1,200,000.01 to 1,300,000.00 | 3 | 3,718,614.98 | 2.27 | 1,239,538.33 | 4.371 | 748 | 69.22 | 69.22 |
1,300,000.01 to 1,400,000.00 | 4 | 5,425,339.87 | 3.32 | 1,356,334.97 | 4.372 | 773 | 65.43 | 65.43 |
1,400,000.01 to 1,500,000.00 | 1 | 1,483,544.14 | 0.91 | 1,483,544.14 | 3.625 | 768 | 57.69 | 57.69 |
1,600,000.01 to 1,700,000.00 | 3 | 4,899,660.51 | 3.00 | 1,633,220.17 | 4.539 | 736 | 70.14 | 70.14 |
1,800,000.01 to 1,900,000.00 | 1 | 1,900,000.00 | 1.16 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
2,300,000.01 to 2,400,000.00 | 1 | 2,325,000.00 | 1.42 | 2,325,000.00 | 2.950 | 778 | 68.38 | 68.38 |
2,700,000.01 to 2,800,000.00 | 1 | 2,783,781.94 | 1.70 | 2,783,781.94 | 4.000 | 699 | 56.00 | 56.00 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The average loan balance of the mortgage loans as of the cut-off date was approximately $746,976.81.
- 50 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Gross Mortgage Rates of the Mortgage Loans as of the Cut-off Date | ||||||||
Range of Gross Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
2.751 to 3.000 | 4 | 4,628,448.39 | 2.83 | 1,157,112.10 | 2.933 | 790 | 66.45 | 68.88 |
3.001 to 3.250 | 12 | 7,981,010.08 | 4.88 | 665,084.17 | 3.214 | 776 | 57.99 | 61.64 |
3.251 to 3.500 | 35 | 25,532,057.18 | 15.61 | 729,487.35 | 3.449 | 777 | 66.10 | 67.62 |
3.501 to 3.750 | 42 | 29,641,574.53 | 18.12 | 705,751.77 | 3.679 | 765 | 67.88 | 69.17 |
3.751 to 4.000 | 39 | 30,364,859.32 | 18.56 | 778,586.14 | 3.942 | 760 | 63.98 | 65.16 |
4.001 to 4.250 | 38 | 26,088,358.27 | 15.95 | 686,535.74 | 4.176 | 762 | 62.66 | 64.52 |
4.251 to 4.500 | 31 | 24,918,438.33 | 15.23 | 803,820.59 | 4.399 | 761 | 66.20 | 67.19 |
4.501 to 4.750 | 12 | 9,163,316.22 | 5.60 | 763,609.69 | 4.673 | 766 | 70.30 | 70.76 |
4.751 to 5.000 | 6 | 5,269,858.48 | 3.22 | 878,309.75 | 4.896 | 743 | 68.87 | 72.91 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average gross mortgage rate of the mortgage loans as of the cut-off date was approximately 3.93%.
Seasoning of the Mortgage Loans | ||||||||
Seasoning (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
1 to 2 | 4 | 2,570,178.46 | 1.57 | 642,544.62 | 3.699 | 774 | 47.29 | 50.57 |
3 to 4 | 51 | 37,006,210.63 | 22.62 | 725,611.97 | 3.548 | 769 | 62.03 | 63.07 |
5 to 6 | 45 | 33,575,848.10 | 20.52 | 746,129.96 | 3.770 | 769 | 68.56 | 69.45 |
7 to 8 | 31 | 25,034,503.47 | 15.30 | 807,564.63 | 3.890 | 762 | 64.81 | 66.63 |
9 to 10 | 14 | 9,614,869.38 | 5.88 | 686,776.38 | 4.121 | 766 | 64.04 | 64.91 |
11 to 12 | 17 | 15,071,064.61 | 9.21 | 886,533.21 | 3.896 | 763 | 66.02 | 68.97 |
13 to 14 | 16 | 10,525,707.40 | 6.43 | 657,856.71 | 4.195 | 753 | 63.68 | 64.98 |
15 to 16 | 7 | 5,326,478.03 | 3.26 | 760,925.43 | 4.390 | 766 | 73.72 | 73.72 |
17 to 18 | 9 | 10,308,279.32 | 6.30 | 1,145,364.37 | 4.526 | 762 | 68.65 | 72.75 |
19 to 20 | 4 | 3,628,429.54 | 2.22 | 907,107.39 | 4.864 | 744 | 65.06 | 70.94 |
21 to 22 | 9 | 5,331,421.01 | 3.26 | 592,380.11 | 4.548 | 770 | 71.65 | 71.65 |
23 to 24 | 12 | 5,594,930.85 | 3.42 | 466,244.24 | 4.294 | 769 | 64.88 | 64.88 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average seasoning of the mortgage loans as of the cut-off date was approximately 9 months.
- 51 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Loan-to-Value Ratio of the Mortgage Loans at Origination | ||||||||
Range of Original Loan-to- | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20.01 to 25.00 | 2 | 852,032.70 | 0.52 | 426,016.35 | 4.026 | 769 | 21.64 | 46.68 |
25.01 to 30.00 | 1 | 555,394.72 | 0.34 | 555,394.72 | 3.875 | 773 | 28.26 | 28.26 |
30.01 to 35.00 | 6 | 4,668,321.85 | 2.85 | 778,053.64 | 3.883 | 768 | 32.90 | 34.71 |
35.01 to 40.00 | 7 | 5,941,814.24 | 3.63 | 848,830.61 | 4.037 | 777 | 37.84 | 41.21 |
40.01 to 45.00 | 7 | 2,869,378.29 | 1.75 | 409,911.18 | 4.108 | 758 | 43.32 | 46.25 |
45.01 to 50.00 | 8 | 5,824,740.72 | 3.56 | 728,092.59 | 3.779 | 766 | 48.14 | 51.69 |
50.01 to 55.00 | 17 | 11,919,886.48 | 7.29 | 701,169.79 | 3.882 | 776 | 52.90 | 56.56 |
55.01 to 60.00 | 24 | 20,487,572.12 | 12.52 | 853,648.84 | 3.912 | 755 | 57.54 | 60.56 |
60.01 to 65.00 | 18 | 13,192,470.80 | 8.06 | 732,915.04 | 3.837 | 768 | 63.16 | 65.87 |
65.01 to 70.00 | 35 | 29,052,086.02 | 17.76 | 830,059.60 | 3.864 | 765 | 68.71 | 69.67 |
70.01 to 75.00 | 37 | 26,551,645.66 | 16.23 | 717,612.04 | 4.052 | 760 | 73.32 | 73.48 |
75.01 to 80.00 | 57 | 41,672,577.20 | 25.47 | 731,097.85 | 3.955 | 768 | 79.22 | 79.22 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average loan-to-value ratio of the mortgage loans at origination was approximately 65.43%.
- 52 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1)) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Combined Loan-to-Value Ratio of the Mortgage Loans at Origination | ||||||||
Range of Original Combined Loan-to-Value Ratios (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20.01 to 25.00 | 1 | 59,006.51 | 0.04 | 59,006.51 | 4.375 | 756 | 23.27 | 23.27 |
25.01 to 30.00 | 1 | 555,394.72 | 0.34 | 555,394.72 | 3.875 | 773 | 28.26 | 28.26 |
30.01 to 35.00 | 5 | 3,959,382.66 | 2.42 | 791,876.53 | 3.951 | 767 | 32.70 | 32.70 |
35.01 to 40.00 | 6 | 4,841,814.24 | 2.96 | 806,969.04 | 3.989 | 785 | 37.35 | 37.35 |
40.01 to 45.00 | 6 | 2,339,963.65 | 1.43 | 389,993.94 | 4.160 | 752 | 43.16 | 43.16 |
45.01 to 50.00 | 8 | 5,687,743.56 | 3.48 | 710,967.95 | 3.828 | 775 | 42.83 | 48.06 |
50.01 to 55.00 | 15 | 10,160,269.78 | 6.21 | 677,351.32 | 3.849 | 783 | 53.08 | 53.08 |
55.01 to 60.00 | 23 | 18,701,947.01 | 11.43 | 813,128.13 | 3.882 | 758 | 55.90 | 58.02 |
60.01 to 65.00 | 16 | 12,188,297.06 | 7.45 | 761,768.57 | 3.856 | 760 | 62.30 | 63.43 |
65.01 to 70.00 | 36 | 30,552,432.50 | 18.68 | 848,678.68 | 3.909 | 765 | 67.60 | 68.67 |
70.01 to 75.00 | 38 | 27,273,481.75 | 16.67 | 717,723.20 | 4.012 | 760 | 72.71 | 73.30 |
75.01 to 80.00 | 60 | 44,432,193.90 | 27.16 | 740,536.57 | 3.964 | 768 | 77.76 | 79.13 |
80.01 to 85.00 | 2 | 1,023,140.31 | 0.63 | 511,570.16 | 4.107 | 778 | 70.62 | 83.96 |
85.01 to 90.00 | 2 | 1,812,853.15 | 1.11 | 906,426.58 | 3.564 | 726 | 61.94 | 87.11 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average combined loan-to-value ratio of the mortgage loans at origination was approximately 66.97%. The original combined loan-to value was calculated using the full lien amount (drawn and undrawn) for the second mortgage. Using only the drawn amount of the second mortgage at the time of origination, the weighted average original combined loan-to-value ratio would have been approximately 66.95%.
- 53 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Credit Scores of the Mortgage Loans at Origination | ||||||||
Range of Credit Scores | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
661 to 670 | 1 | 539,864.78 | 0.33 | 539,864.78 | 4.250 | 670 | 72.15 | 72.15 |
671 to 680 | 3 | 2,121,116.28 | 1.30 | 707,038.76 | 3.844 | 675 | 65.24 | 69.68 |
681 to 690 | 3 | 2,358,373.53 | 1.44 | 786,124.51 | 4.048 | 686 | 61.21 | 73.38 |
691 to 700 | 5 | 6,027,997.43 | 3.68 | 1,205,599.49 | 3.967 | 698 | 62.35 | 62.35 |
701 to 710 | 7 | 4,717,326.27 | 2.88 | 673,903.75 | 4.112 | 704 | 65.47 | 69.98 |
711 to 720 | 8 | 6,525,885.37 | 3.99 | 815,735.67 | 4.358 | 717 | 68.22 | 68.22 |
721 to 730 | 6 | 5,014,344.73 | 3.07 | 835,724.12 | 4.224 | 725 | 67.70 | 67.70 |
731 to 740 | 10 | 8,426,566.13 | 5.15 | 842,656.61 | 4.185 | 735 | 65.31 | 68.50 |
741 to 750 | 11 | 7,071,521.28 | 4.32 | 642,865.57 | 3.994 | 745 | 72.05 | 72.05 |
751 to 760 | 12 | 8,571,167.67 | 5.24 | 714,263.97 | 4.048 | 755 | 63.81 | 63.81 |
761 to 770 | 24 | 18,931,099.98 | 11.57 | 788,795.83 | 3.983 | 765 | 68.55 | 69.99 |
771 to 780 | 38 | 29,964,752.40 | 18.32 | 788,546.12 | 3.725 | 775 | 63.10 | 66.11 |
781 to 790 | 35 | 24,698,988.37 | 15.10 | 705,685.38 | 3.892 | 786 | 64.57 | 65.62 |
791 to 800 | 33 | 23,382,270.49 | 14.29 | 708,553.65 | 3.839 | 796 | 67.50 | 68.00 |
801 to 810 | 20 | 13,108,416.04 | 8.01 | 655,420.80 | 3.837 | 805 | 64.06 | 64.92 |
811 to 820 | 2 | 1,432,560.73 | 0.88 | 716,280.37 | 4.424 | 815 | 34.99 | 34.99 |
821 to 830 | 1 | 695,669.32 | 0.43 | 695,669.32 | 3.625 | 823 | 78.65 | 78.65 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average credit score of the mortgage loans at origination was approximately 765.
- 54 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Documentation Type of the Mortgage loans | ||||||||
Documentation Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Two Years Income with Assets | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Monthly Income of the Mortgage Borrower at Origination | ||||||||
Range of Monthly Income ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
5,000.01 to 10,000.00 | 3 | 232,202.46 | 0.14 | 77,400.82 | 4.151 | 758 | 55.95 | 55.95 |
10,000.01 to 20,000.00 | 46 | 29,214,714.61 | 17.86 | 635,102.49 | 3.827 | 768 | 66.25 | 67.08 |
20,000.01 to 30,000.00 | 71 | 52,418,439.46 | 32.04 | 738,287.88 | 3.904 | 770 | 67.95 | 69.70 |
30,000.01 to 40,000.00 | 39 | 28,969,687.98 | 17.71 | 742,812.51 | 3.966 | 764 | 62.92 | 64.94 |
40,000.01 to 50,000.00 | 17 | 11,852,787.06 | 7.25 | 697,222.77 | 4.058 | 769 | 69.89 | 69.89 |
50,000.01 to 60,000.00 | 16 | 13,001,308.17 | 7.95 | 812,581.76 | 3.753 | 761 | 61.77 | 64.20 |
60,000.01 to 70,000.00 | 8 | 8,764,009.80 | 5.36 | 1,095,501.23 | 4.027 | 761 | 62.46 | 65.29 |
70,000.01 to 80,000.00 | 5 | 5,649,964.18 | 3.45 | 1,129,992.84 | 4.053 | 785 | 63.77 | 63.77 |
80,000.01 to 90,000.00 | 4 | 3,258,223.92 | 1.99 | 814,555.98 | 4.542 | 729 | 67.58 | 67.58 |
90,000.01 to 100,000.00 | 2 | 1,942,294.75 | 1.19 | 971,147.38 | 4.283 | 756 | 79.22 | 79.22 |
100,000.01 to 200,000.00 | 6 | 6,630,416.61 | 4.05 | 1,105,069.44 | 4.009 | 743 | 50.19 | 53.41 |
500,000.01 to 600,000.00 | 1 | 760,195.16 | 0.46 | 760,195.16 | 3.500 | 797 | 70.00 | 70.00 |
1,000,000.01 to 1,100,000.00 | 1 | 893,676.64 | 0.55 | 893,676.64 | 3.875 | 732 | 80.00 | 80.00 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average monthly income of the mortgage borrower at origination was approximately $47,080.56.
- 55 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Debt-to-Income Ratio of the Mortgage Loans at Origination | ||||||||
Range of Debt-to-Income Ratios (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
5.01 to 10.00 | 3 | 2,111,374.87 | 1.29 | 703,791.62 | 3.580 | 795 | 69.35 | 69.35 |
10.01 to 15.00 | 10 | 6,520,893.15 | 3.99 | 652,089.32 | 3.746 | 767 | 55.46 | 58.74 |
15.01 to 20.00 | 29 | 19,310,561.40 | 11.80 | 665,881.43 | 4.005 | 773 | 66.63 | 67.11 |
20.01 to 25.00 | 37 | 27,935,920.00 | 17.08 | 755,024.86 | 3.908 | 768 | 66.27 | 67.49 |
25.01 to 30.00 | 50 | 34,322,636.32 | 20.98 | 686,452.73 | 3.954 | 768 | 67.24 | 69.85 |
30.01 to 35.00 | 35 | 29,424,103.09 | 17.99 | 840,688.66 | 3.902 | 757 | 61.67 | 63.25 |
35.01 to 40.00 | 24 | 19,201,908.05 | 11.74 | 800,079.50 | 3.832 | 775 | 68.12 | 69.28 |
40.01 to 45.00 | 27 | 21,922,041.87 | 13.40 | 811,927.48 | 4.103 | 749 | 64.99 | 66.33 |
45.01 to 50.00 | 2 | 1,179,127.82 | 0.72 | 589,563.91 | 3.711 | 761 | 71.25 | 71.25 |
55.01 to 60.00 | 1 | 669,772.07 | 0.41 | 669,772.07 | 3.625 | 735 | 75.00 | 75.00 |
60.01 to 65.00 | 1 | 989,582.16 | 0.60 | 989,582.16 | 3.875 | 802 | 68.96 | 68.96 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average debt-to-income ratio of the mortgage loans at origination was approximately 29.26%.
- 56 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Verified Assets of the Mortgage Borrower at Origination | ||||||||
Range of Assets Verified ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20,000.01 to 50,000.00 | 6 | 3,784,209.30 | 2.31 | 630,701.55 | 3.928 | 755 | 72.15 | 72.58 |
50,000.01 to 100,000.00 | 21 | 12,576,861.86 | 7.69 | 598,898.18 | 3.953 | 749 | 67.16 | 67.49 |
100,000.01 to 150,000.00 | 32 | 21,961,208.84 | 13.42 | 686,287.78 | 3.784 | 766 | 63.37 | 66.02 |
150,000.01 to 200,000.00 | 23 | 16,954,400.60 | 10.36 | 737,147.85 | 3.907 | 761 | 65.79 | 67.34 |
200,000.01 to 250,000.00 | 19 | 13,112,640.12 | 8.02 | 690,138.95 | 3.775 | 770 | 71.78 | 73.07 |
250,000.01 to 300,000.00 | 12 | 7,999,307.64 | 4.89 | 666,608.97 | 4.023 | 768 | 73.29 | 73.29 |
300,000.01 to 350,000.00 | 15 | 10,748,020.18 | 6.57 | 716,534.68 | 3.754 | 769 | 65.58 | 67.02 |
350,000.01 to 400,000.00 | 14 | 10,628,505.17 | 6.50 | 759,178.94 | 4.064 | 761 | 72.58 | 75.28 |
400,000.01 to 450,000.00 | 10 | 7,063,760.32 | 4.32 | 706,376.03 | 3.948 | 766 | 59.61 | 59.61 |
450,000.01 to 500,000.00 | 5 | 3,830,122.23 | 2.34 | 766,024.45 | 4.077 | 771 | 58.48 | 58.48 |
500,000.01 to 550,000.00 | 4 | 2,780,672.15 | 1.70 | 695,168.04 | 3.814 | 750 | 59.09 | 59.09 |
550,000.01 to 600,000.00 | 2 | 1,436,900.60 | 0.88 | 718,450.30 | 4.005 | 753 | 59.20 | 59.20 |
600,000.01 to 650,000.00 | 4 | 2,826,627.45 | 1.73 | 706,656.86 | 4.028 | 766 | 54.18 | 57.52 |
650,000.01 to 700,000.00 | 6 | 5,156,537.74 | 3.15 | 859,422.96 | 4.051 | 769 | 64.18 | 68.05 |
700,000.01 to 750,000.00 | 2 | 2,164,524.68 | 1.32 | 1,082,262.34 | 4.555 | 754 | 73.48 | 73.48 |
750,000.01 to 800,000.00 | 2 | 1,120,863.87 | 0.69 | 560,431.94 | 4.623 | 762 | 76.71 | 76.71 |
800,000.01 to 900,000.00 | 7 | 6,153,287.11 | 3.76 | 879,041.02 | 3.979 | 788 | 58.55 | 58.55 |
900,000.01 to 1,000,000.00 | 5 | 5,250,054.33 | 3.21 | 1,050,010.87 | 4.210 | 772 | 66.42 | 66.42 |
1,000,000.01 to 3,000,000.00 | 25 | 22,258,838.05 | 13.61 | 890,353.52 | 3.928 | 774 | 62.76 | 65.18 |
3,000,000.01 to 5,000,000.00 | 3 | 2,276,354.57 | 1.39 | 758,784.86 | 4.036 | 794 | 67.00 | 74.69 |
7,000,000.01 to 9,000,000.00 | 1 | 2,783,781.94 | 1.70 | 2,783,781.94 | 4.000 | 699 | 56.00 | 56.00 |
9,000,000.01 to 11,000,000.00 | 1 | 720,442.05 | 0.44 | 720,442.05 | 3.500 | 807 | 52.14 | 52.14 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average verified assets of the mortgage borrowers at origination was approximately $729,252.51.
- 57 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Self-Employment Status of the Mortgage Borrower at Origination | ||||||||
Self-Employed Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Not Self-Employed | 148 | 105,195,905.31 | 64.31 | 710,783.14 | 3.878 | 770 | 65.96 | 68.02 |
Self-Employed | 71 | 58,392,015.49 | 35.69 | 822,422.75 | 4.029 | 758 | 64.47 | 65.10 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 58 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Interest Only Term of the Mortgage Loans at Origination | ||||||||
Interest Only Term (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 199 | 143,587,115.20 | 87.77 | 721,543.29 | 3.935 | 764 | 66.47 | 67.55 |
120 | 20 | 20,000,805.60 | 12.23 | 1,000,040.28 | 3.908 | 772 | 57.96 | 62.86 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Occupancy Type of the Mortgage Loans | ||||||||
Occupancy Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Investment Property | 2 | 1,384,545.50 | 0.85 | 692,272.75 | 4.204 | 784 | 55.76 | 55.76 |
Owner-Occupied | 202 | 151,328,707.55 | 92.51 | 749,152.02 | 3.939 | 764 | 66.07 | 67.73 |
Second Home | 15 | 10,874,667.75 | 6.65 | 724,977.85 | 3.797 | 782 | 57.73 | 57.88 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Loan Purpose of the Mortgage Loans | ||||||||
Loan Purpose | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Cash-Out Refinance | 10 | 8,891,845.59 | 5.44 | 889,184.56 | 4.291 | 747 | 64.07 | 64.07 |
Purchase | 61 | 49,741,664.17 | 30.41 | 815,437.12 | 3.902 | 766 | 70.44 | 71.70 |
Rate Term Refinance | 148 | 104,954,411.04 | 64.16 | 709,151.43 | 3.915 | 767 | 63.17 | 64.98 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 59 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Property Types of the Mortgage Loans | ||||||||
Property Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Single Family | 135 | 102,453,341.75 | 62.63 | 758,913.64 | 3.893 | 764 | 64.62 | 66.29 |
Planned Unit Development | 74 | 52,501,704.05 | 32.09 | 709,482.49 | 3.987 | 765 | 67.24 | 68.26 |
Condominium | 8 | 6,272,875.00 | 3.83 | 784,109.38 | 3.975 | 775 | 61.77 | 65.98 |
Two-to-Four Family | 1 | 1,360,000.00 | 0.83 | 1,360,000.00 | 4.350 | 791 | 80.00 | 80.00 |
Cooperative Unit | 1 | 1,000,000.00 | 0.61 | 1,000,000.00 | 4.200 | 801 | 57.47 | 57.47 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 60 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Geographic Concentration of the Mortgage Loans (States) | ||||||||
State | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Texas | 62 | 46,286,203.22 | 28.29 | 746,551.66 | 4.107 | 758 | 67.12 | 67.77 |
California | 43 | 39,847,316.97 | 24.36 | 926,681.79 | 3.823 | 765 | 59.60 | 62.43 |
Florida | 30 | 21,242,966.84 | 12.99 | 708,098.89 | 3.823 | 764 | 66.99 | 67.87 |
Colorado | 8 | 5,999,623.84 | 3.67 | 749,952.98 | 4.088 | 776 | 73.16 | 73.16 |
Illinois | 7 | 4,452,472.74 | 2.72 | 636,067.53 | 3.964 | 764 | 73.06 | 73.06 |
Washington | 6 | 4,310,730.79 | 2.64 | 718,455.13 | 3.779 | 782 | 72.37 | 72.37 |
Massachusetts | 5 | 3,907,247.26 | 2.39 | 781,449.45 | 3.492 | 784 | 63.54 | 65.70 |
Virginia | 4 | 3,150,733.61 | 1.93 | 787,683.40 | 3.758 | 748 | 67.47 | 76.58 |
Maryland | 5 | 2,977,292.79 | 1.82 | 595,458.56 | 3.770 | 791 | 63.65 | 66.82 |
New York | 4 | 2,950,244.55 | 1.80 | 737,561.14 | 4.327 | 792 | 71.23 | 71.23 |
New Jersey | 3 | 2,355,598.09 | 1.44 | 785,199.36 | 4.511 | 767 | 64.58 | 64.58 |
North Carolina | 3 | 2,127,619.67 | 1.30 | 709,206.56 | 3.769 | 786 | 70.87 | 70.87 |
Indiana | 3 | 1,934,284.78 | 1.18 | 644,761.59 | 4.088 | 760 | 76.57 | 76.57 |
Nevada | 3 | 1,910,356.87 | 1.17 | 636,785.62 | 3.354 | 768 | 63.35 | 63.35 |
Oregon | 3 | 1,696,797.18 | 1.04 | 565,599.06 | 3.745 | 759 | 68.15 | 74.69 |
Georgia | 3 | 1,528,627.78 | 0.93 | 509,542.59 | 4.099 | 780 | 56.86 | 58.26 |
Louisiana | 2 | 1,456,332.40 | 0.89 | 728,166.20 | 3.776 | 754 | 65.54 | 65.54 |
Arizona | 2 | 1,447,275.89 | 0.88 | 723,637.95 | 3.163 | 787 | 59.01 | 66.81 |
Oklahoma | 2 | 1,366,173.39 | 0.84 | 683,086.70 | 4.262 | 785 | 77.28 | 77.28 |
Tennessee | 2 | 1,251,213.47 | 0.76 | 625,606.74 | 3.851 | 779 | 62.65 | 62.65 |
Connecticut | 1 | 1,100,000.00 | 0.67 | 1,100,000.00 | 4.250 | 738 | 40.00 | 58.18 |
New Mexico | 2 | 1,041,418.69 | 0.64 | 520,709.35 | 3.565 | 786 | 52.30 | 52.30 |
Minnesota | 2 | 1,014,579.13 | 0.62 | 507,289.57 | 3.912 | 782 | 48.51 | 48.51 |
Missouri | 1 | 950,642.71 | 0.58 | 950,642.71 | 4.250 | 789 | 80.00 | 80.00 |
Hawaii | 1 | 876,373.71 | 0.54 | 876,373.71 | 4.250 | 787 | 60.00 | 60.00 |
Mississippi | 1 | 821,770.84 | 0.50 | 821,770.84 | 3.750 | 701 | 63.76 | 63.76 |
South Carolina | 1 | 748,813.52 | 0.46 | 748,813.52 | 4.250 | 763 | 75.00 | 75.00 |
Idaho | 1 | 683,194.98 | 0.42 | 683,194.98 | 3.625 | 675 | 77.41 | 77.41 |
Pennsylvania | 1 | 601,642.21 | 0.37 | 601,642.21 | 4.125 | 745 | 70.00 | 70.00 |
Iowa | 1 | 558,239.99 | 0.34 | 558,239.99 | 3.750 | 785 | 79.19 | 79.19 |
Alabama | 1 | 551,174.46 | 0.34 | 551,174.46 | 4.500 | 744 | 68.67 | 68.67 |
Arkansas | 1 | 510,692.17 | 0.31 | 510,692.17 | 4.375 | 745 | 80.00 | 80.00 |
Michigan | 1 | 501,837.43 | 0.31 | 501,837.43 | 3.250 | 777 | 50.48 | 50.48 |
Ohio | 1 | 496,985.86 | 0.30 | 496,985.86 | 3.375 | 791 | 59.64 | 59.64 |
Kentucky | 1 | 446,804.38 | 0.27 | 446,804.38 | 4.125 | 808 | 80.00 | 80.00 |
Rhode Island | 1 | 345,888.98 | 0.21 | 345,888.98 | 4.125 | 810 | 55.72 | 55.72 |
South Dakota | 1 | 138,749.61 | 0.08 | 138,749.61 | 4.125 | 748 | 73.62 | 73.62 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 61 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Geographic Concentration of the Mortgage Loans (Top 10 Cities) | ||||||||
City | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Dallas, TX | 12 | 8,718,769.77 | 5.33 | 726,564.15 | 3.990 | 761 | 72.85 | 72.85 |
Houston, TX | 9 | 7,113,424.76 | 4.35 | 790,380.53 | 4.265 | 763 | 65.29 | 65.29 |
San Francisco, CA | 5 | 5,077,963.15 | 3.10 | 1,015,592.63 | 3.951 | 771 | 60.87 | 73.90 |
Austin, TX | 7 | 4,895,269.64 | 2.99 | 699,324.23 | 3.885 | 770 | 67.70 | 67.70 |
Bellaire, TX | 7 | 4,856,547.76 | 2.97 | 693,792.54 | 4.109 | 747 | 70.91 | 70.91 |
Fort Worth, TX | 3 | 4,432,385.02 | 2.71 | 1,477,461.67 | 3.924 | 729 | 51.85 | 51.85 |
Los Angeles, CA | 3 | 3,416,399.25 | 2.09 | 1,138,799.75 | 4.375 | 739 | 72.28 | 72.28 |
La Jolla, CA | 2 | 2,545,507.17 | 1.56 | 1,272,753.59 | 4.072 | 747 | 68.88 | 75.53 |
Geyserville, CA | 1 | 2,325,000.00 | 1.42 | 2,325,000.00 | 2.950 | 778 | 68.38 | 68.38 |
Boca Raton, FL | 3 | 2,256,550.35 | 1.38 | 752,183.45 | 3.696 | 784 | 66.83 | 66.83 |
Other | 167 | 117,950,103.93 | 72.10 | 706,288.05 | 3.910 | 768 | 64.92 | 66.36 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Original Term to Maturity of the Mortgage Loans | ||||||||
Original Term to Maturity (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
120 | 6 | 3,952,834.03 | 2.42 | 658,805.67 | 3.268 | 779 | 65.03 | 66.76 |
180 | 114 | 75,949,787.87 | 46.43 | 666,226.21 | 4.068 | 765 | 64.48 | 65.26 |
360 | 99 | 83,685,298.90 | 51.16 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average original term to maturity of the mortgage loans at origination was approximately 271 months.
- 62 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Remaining Term to Maturity of the Mortgage Loans | ||||||||
Remaining Term to Maturity (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
111 to 115 | 4 | 2,610,325.18 | 1.60 | 652,581.30 | 3.388 | 771 | 70.71 | 73.33 |
116 to 120 | 2 | 1,342,508.85 | 0.82 | 671,254.43 | 3.036 | 795 | 53.99 | 53.99 |
156 to 160 | 23 | 12,775,088.24 | 7.81 | 555,438.62 | 4.493 | 766 | 66.27 | 67.94 |
161 to 165 | 13 | 10,784,798.90 | 6.59 | 829,599.92 | 4.630 | 749 | 72.78 | 72.78 |
166 to 170 | 23 | 15,471,804.32 | 9.46 | 672,687.14 | 4.130 | 760 | 66.40 | 67.15 |
171 to 175 | 25 | 17,826,460.25 | 10.90 | 713,058.41 | 4.017 | 768 | 62.41 | 62.88 |
176 to 180 | 30 | 19,091,636.16 | 11.67 | 636,387.87 | 3.464 | 775 | 58.99 | 59.92 |
341 to 345 | 5 | 6,629,651.61 | 4.05 | 1,325,930.32 | 4.317 | 780 | 67.86 | 74.24 |
346 to 350 | 13 | 12,820,917.21 | 7.84 | 986,224.40 | 3.951 | 754 | 64.08 | 67.71 |
351 to 355 | 58 | 45,092,486.00 | 27.56 | 777,456.66 | 3.802 | 766 | 67.85 | 69.37 |
356 to 360 | 23 | 19,142,244.08 | 11.70 | 832,271.48 | 3.688 | 763 | 63.65 | 65.16 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
The weighted average remaining term to maturity of the mortgage loans as of the cut-off date was approximately 262 months.
Prepayment Penalty Term of the Mortgage Loans at Origination | ||||||||
Prepayment Penalty Term | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 212 | 154,150,920.80 | 94.23 | 727,126.98 | 3.939 | 764 | 65.50 | 66.71 |
48 | 2 | 3,180,000.00 | 1.94 | 1,590,000.00 | 2.990 | 778 | 63.92 | 70.93 |
60 | 5 | 6,257,000.00 | 3.82 | 1,251,400.00 | 4.231 | 786 | 64.63 | 71.39 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 63 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Originators of the Mortgage Loans | ||||||||
Originator | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
EverBank | 168 | 121,137,082.57 | 74.05 | 721,054.06 | 3.967 | 763 | 66.29 | 67.47 |
Prime Lending | 18 | 11,944,696.34 | 7.30 | 663,594.24 | 3.621 | 774 | 62.34 | 63.29 |
First Republic Bank | 7 | 9,437,000.00 | 5.77 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
PHH | 5 | 4,003,084.70 | 2.45 | 800,616.94 | 4.473 | 761 | 62.68 | 67.67 |
Flagstar Bank, F.S.B. | 3 | 3,150,875.28 | 1.93 | 1,050,291.76 | 4.187 | 756 | 62.69 | 62.69 |
Fremont Bank | 1 | 720,442.05 | 0.44 | 720,442.05 | 3.500 | 807 | 52.14 | 52.14 |
Other | 17 | 13,194,739.86 | 8.07 | 776,161.17 | 3.771 | 768 | 63.35 | 64.31 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Channel of the Mortgage Loans | ||||||||
Channel | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Retail | 128 | 91,783,007.83 | 56.11 | 717,054.75 | 3.782 | 770 | 64.61 | 66.69 |
Broker | 80 | 64,283,024.82 | 39.30 | 803,537.81 | 4.160 | 759 | 66.50 | 67.14 |
Correspondent | 11 | 7,521,888.15 | 4.60 | 683,808.01 | 3.814 | 767 | 66.28 | 69.11 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Servicers of the Mortgage Loans | ||||||||
Servicer | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
EverBank | 168 | 121,137,082.57 | 74.05 | 721,054.06 | 3.967 | 763 | 66.29 | 67.47 |
Cenlar, F.S.B. | 39 | 29,010,753.53 | 17.73 | 743,865.48 | 3.747 | 770 | 62.59 | 63.41 |
First Republic Bank | 7 | 9,437,000.00 | 5.77 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
PHH | 5 | 4,003,084.70 | 2.45 | 800,616.94 | 4.473 | 761 | 62.68 | 67.67 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 64 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | |||||||||
Collateral characteristics are listed below as of the Cut-off Date | |||||||||
Lien Position of the Mortgage Loans at Origination | |||||||||
Lien Position | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) | |
First Lien | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 | |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 | |
Loans with Seconds at Origination | ||||||||
Loans with Seconds at Origination | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 199 | 147,666,952.37 | 90.27 | 742,044.99 | 3.937 | 766 | 66.72 | 66.72 |
Has Second Lien at Origination | 20 | 15,920,968.43 | 9.73 | 796,048.42 | 3.887 | 758 | 53.45 | 69.30 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Mortgage Insurance Status of the Mortgage Loans at Origination | ||||||||
Mortgage Insurance Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
No Mortgage Insurance | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 65 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) |
Collateral characteristics are listed below as of the Cut-off Date |
Origination Date of the Mortgage Loans | ||||||||
Origination Date | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
January 2011 | 12 | 5,594,930.85 | 3.42 | 466,244.24 | 4.294 | 769 | 64.88 | 64.88 |
February 2011 | 2 | 1,322,665.04 | 0.81 | 661,332.52 | 4.635 | 789 | 76.73 | 76.73 |
March 2011 | 7 | 4,008,755.97 | 2.45 | 572,679.42 | 4.519 | 764 | 69.98 | 69.98 |
April 2011 | 2 | 1,848,736.38 | 1.13 | 924,368.19 | 4.936 | 747 | 54.96 | 66.49 |
May 2011 | 2 | 1,779,693.16 | 1.09 | 889,846.58 | 4.789 | 742 | 75.56 | 75.56 |
June 2011 | 4 | 4,669,992.48 | 2.85 | 1,167,498.12 | 4.485 | 768 | 62.24 | 67.55 |
July 2011 | 5 | 5,638,286.84 | 3.45 | 1,127,657.37 | 4.559 | 756 | 73.96 | 77.06 |
August 2011 | 5 | 3,772,825.14 | 2.31 | 754,565.03 | 4.519 | 754 | 74.02 | 74.02 |
September 2011 | 2 | 1,553,652.89 | 0.95 | 776,826.45 | 4.077 | 794 | 72.99 | 72.99 |
October 2011 | 4 | 2,817,976.67 | 1.72 | 704,494.17 | 4.180 | 792 | 69.07 | 70.57 |
November 2011 | 12 | 7,707,730.73 | 4.71 | 642,310.89 | 4.201 | 739 | 61.72 | 62.94 |
December 2011 | 12 | 10,425,144.08 | 6.37 | 868,762.01 | 3.791 | 773 | 63.83 | 68.09 |
January 2012 | 5 | 4,645,920.53 | 2.84 | 929,184.11 | 4.132 | 741 | 70.92 | 70.92 |
February 2012 | 3 | 2,695,949.52 | 1.65 | 898,649.84 | 4.334 | 745 | 68.11 | 68.11 |
March 2012 | 12 | 7,639,988.79 | 4.67 | 636,665.73 | 4.035 | 767 | 62.71 | 63.81 |
April 2012 | 5 | 3,973,875.20 | 2.43 | 794,775.04 | 3.861 | 768 | 58.46 | 58.46 |
May 2012 | 25 | 20,339,559.34 | 12.43 | 813,582.37 | 3.892 | 764 | 66.03 | 68.28 |
June 2012 | 27 | 18,369,686.17 | 11.23 | 680,358.75 | 3.808 | 772 | 67.31 | 68.93 |
July 2012 | 20 | 16,503,089.06 | 10.09 | 825,154.45 | 3.727 | 768 | 70.85 | 70.85 |
August 2012 | 35 | 26,573,483.16 | 16.24 | 759,242.38 | 3.590 | 765 | 63.14 | 64.16 |
September 2012 | 12 | 7,378,693.62 | 4.51 | 614,891.14 | 3.400 | 776 | 55.70 | 57.23 |
October 2012 | 6 | 4,327,285.18 | 2.65 | 721,214.20 | 3.568 | 779 | 51.87 | 53.82 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 66 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Maturity Date of the Mortgage Loans | ||||||||
Maturity Date | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
July 2022 | 4 | 2,610,325.18 | 1.60 | 652,581.30 | 3.388 | 771 | 70.71 | 73.33 |
September 2022 | 2 | 1,342,508.85 | 0.82 | 671,254.43 | 3.036 | 795 | 53.99 | 53.99 |
February 2026 | 12 | 5,594,930.85 | 3.42 | 466,244.24 | 4.294 | 769 | 64.88 | 64.88 |
March 2026 | 2 | 1,322,665.04 | 0.81 | 661,332.52 | 4.635 | 789 | 76.73 | 76.73 |
April 2026 | 7 | 4,008,755.97 | 2.45 | 572,679.42 | 4.519 | 764 | 69.98 | 69.98 |
May 2026 | 2 | 1,848,736.38 | 1.13 | 924,368.19 | 4.936 | 747 | 54.96 | 66.49 |
June 2026 | 2 | 1,779,693.16 | 1.09 | 889,846.58 | 4.789 | 742 | 75.56 | 75.56 |
July 2026 | 3 | 2,769,992.48 | 1.69 | 923,330.83 | 4.612 | 766 | 67.16 | 67.16 |
August 2026 | 3 | 3,278,286.84 | 2.00 | 1,092,762.28 | 4.771 | 732 | 74.95 | 74.95 |
September 2026 | 4 | 2,400,173.53 | 1.47 | 600,043.38 | 4.458 | 747 | 73.46 | 73.46 |
October 2026 | 1 | 556,652.89 | 0.34 | 556,652.89 | 4.125 | 800 | 76.17 | 76.17 |
November 2026 | 2 | 1,324,762.71 | 0.81 | 662,381.36 | 4.000 | 796 | 75.61 | 75.61 |
December 2026 | 9 | 5,886,764.84 | 3.60 | 654,084.98 | 4.213 | 739 | 61.47 | 63.06 |
January 2027 | 8 | 5,613,906.04 | 3.43 | 701,738.26 | 4.087 | 776 | 66.92 | 67.30 |
February 2027 | 3 | 1,879,371.05 | 1.15 | 626,457.02 | 4.140 | 747 | 73.08 | 73.08 |
March 2027 | 1 | 766,999.68 | 0.47 | 766,999.68 | 4.000 | 773 | 68.14 | 68.14 |
April 2027 | 9 | 5,566,418.72 | 3.40 | 618,490.97 | 4.045 | 779 | 63.22 | 64.73 |
May 2027 | 4 | 3,422,542.95 | 2.09 | 855,635.74 | 4.003 | 750 | 57.32 | 57.32 |
June 2027 | 3 | 2,083,162.13 | 1.27 | 694,387.38 | 3.906 | 764 | 63.00 | 63.00 |
July 2027 | 6 | 3,497,054.21 | 2.14 | 582,842.37 | 3.910 | 773 | 72.40 | 72.40 |
August 2027 | 3 | 3,257,282.24 | 1.99 | 1,085,760.75 | 4.167 | 767 | 55.23 | 55.23 |
September 2027 | 12 | 7,406,323.76 | 4.53 | 617,193.65 | 3.402 | 772 | 63.86 | 65.13 |
October 2027 | 14 | 9,115,133.94 | 5.57 | 651,081.00 | 3.449 | 777 | 58.33 | 58.33 |
November 2027 | 4 | 2,570,178.46 | 1.57 | 642,544.62 | 3.699 | 774 | 47.29 | 50.57 |
July 2041 | 1 | 1,900,000.00 | 1.16 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
August 2041 | 2 | 2,360,000.00 | 1.44 | 1,180,000.00 | 4.265 | 790 | 72.58 | 80.00 |
September 2041 | 1 | 1,372,651.61 | 0.84 | 1,372,651.61 | 4.625 | 767 | 75.00 | 75.00 |
October 2041 | 1 | 997,000.00 | 0.61 | 997,000.00 | 4.050 | 790 | 71.21 | 71.21 |
November 2041 | 2 | 1,493,213.96 | 0.91 | 746,606.98 | 4.340 | 788 | 63.26 | 66.09 |
December 2041 | 3 | 1,820,965.89 | 1.11 | 606,988.63 | 4.160 | 737 | 62.53 | 62.53 |
January 2042 | 4 | 4,811,238.04 | 2.94 | 1,202,809.51 | 3.445 | 769 | 60.23 | 69.02 |
February 2042 | 2 | 2,766,549.48 | 1.69 | 1,383,274.74 | 4.126 | 737 | 69.46 | 69.46 |
March 2042 | 2 | 1,928,949.84 | 1.18 | 964,474.92 | 4.466 | 733 | 68.10 | 68.10 |
April 2042 | 2 | 1,352,501.14 | 0.83 | 676,250.57 | 4.010 | 757 | 59.27 | 59.27 |
May 2042 | 2 | 1,272,401.18 | 0.78 | 636,200.59 | 3.560 | 774 | 65.35 | 65.35 |
June 2042 | 22 | 18,256,397.21 | 11.16 | 829,836.24 | 3.890 | 764 | 66.38 | 68.88 |
July 2042 | 18 | 13,005,911.58 | 7.95 | 722,550.64 | 3.883 | 771 | 65.97 | 67.74 |
August 2042 | 14 | 11,205,274.89 | 6.85 | 800,376.78 | 3.568 | 766 | 73.73 | 73.73 |
September 2042 | 22 | 18,361,382.52 | 11.22 | 834,608.30 | 3.723 | 761 | 64.43 | 65.39 |
October 2042 | 1 | 780,861.56 | 0.48 | 780,861.56 | 2.875 | 809 | 45.37 | 59.82 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 67 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) |
Collateral characteristics are listed below as of the Cut-off Date |
Delinquency Status of the Mortgage Loans | ||||||||
Delinquency Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Current | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Historical Delinquency of the Mortgage Loans | ||||||||
Historical Delinquency (Past 12 Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Never Delinquent | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
Total: | 219 | 163,587,920.80 | 100.00 | 746,976.81 | 3.932 | 765 | 65.43 | 66.97 |
- 68 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Months to Next Rate Adjustment Date of the Hybrid Mortgage Loans | ||||||||
Months to Next Rate Adjustment | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
47 | 1 | 821,770.84 | 0.98 | 821,770.84 | 3.750 | 701 | 63.76 | 63.76 |
48 | 2 | 3,180,000.00 | 3.80 | 1,590,000.00 | 2.990 | 778 | 63.92 | 70.93 |
49 | 1 | 1,101,151.43 | 1.32 | 1,101,151.43 | 3.750 | 741 | 70.00 | 70.00 |
51 | 1 | 789,019.18 | 0.94 | 789,019.18 | 3.750 | 742 | 57.55 | 57.55 |
52 | 2 | 1,272,401.18 | 1.52 | 636,200.59 | 3.560 | 774 | 65.35 | 65.35 |
53 | 3 | 1,917,812.96 | 2.29 | 639,270.99 | 3.579 | 792 | 67.15 | 67.15 |
54 | 2 | 1,478,078.10 | 1.77 | 739,039.05 | 3.747 | 797 | 67.93 | 67.93 |
55 | 1 | 749,450.16 | 0.90 | 749,450.16 | 3.625 | 778 | 70.00 | 70.00 |
56 | 1 | 894,185.06 | 1.07 | 894,185.06 | 3.375 | 762 | 75.00 | 75.00 |
57 | 1 | 780,861.56 | 0.93 | 780,861.56 | 2.875 | 809 | 45.37 | 59.82 |
77 | 1 | 1,010,086.69 | 1.21 | 1,010,086.69 | 3.375 | 798 | 68.00 | 68.00 |
102 | 1 | 1,900,000.00 | 2.27 | 1,900,000.00 | 4.300 | 771 | 55.07 | 68.11 |
103 | 2 | 2,360,000.00 | 2.82 | 1,180,000.00 | 4.265 | 790 | 72.58 | 80.00 |
104 | 1 | 1,372,651.61 | 1.64 | 1,372,651.61 | 4.625 | 767 | 75.00 | 75.00 |
105 | 1 | 997,000.00 | 1.19 | 997,000.00 | 4.050 | 790 | 71.21 | 71.21 |
106 | 2 | 1,493,213.96 | 1.78 | 746,606.98 | 4.340 | 788 | 63.26 | 66.09 |
107 | 2 | 999,195.05 | 1.19 | 499,597.53 | 4.497 | 766 | 61.51 | 61.51 |
108 | 2 | 1,631,238.04 | 1.95 | 815,619.02 | 4.331 | 752 | 53.03 | 65.29 |
109 | 1 | 1,665,398.05 | 1.99 | 1,665,398.05 | 4.375 | 734 | 69.10 | 69.10 |
110 | 2 | 1,928,949.84 | 2.31 | 964,474.92 | 4.466 | 733 | 68.10 | 68.10 |
111 | 1 | 563,481.96 | 0.67 | 563,481.96 | 4.375 | 779 | 61.67 | 61.67 |
113 | 18 | 15,328,497.56 | 18.32 | 851,583.20 | 3.963 | 758 | 66.18 | 69.15 |
114 | 16 | 11,527,833.48 | 13.78 | 720,489.59 | 3.900 | 767 | 65.72 | 67.71 |
115 | 13 | 10,455,824.73 | 12.49 | 804,294.21 | 3.564 | 765 | 74.00 | 74.00 |
116 | 21 | 17,467,197.46 | 20.87 | 831,771.31 | 3.740 | 761 | 63.88 | 64.90 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average months to next rate adjustment of Hybrid mortgage loans in Pool 1 as of the cut-off date was approximately 103 months.
- 69 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Index of the Hybrid Mortgage Loans | ||||||||
Index | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
One-Month LIBOR | 7 | 9,437,000.00 | 11.28 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
One-Year LIBOR | 92 | 74,248,298.90 | 88.72 | 807,046.73 | 3.843 | 762 | 66.56 | 68.20 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Rate Adjustment Frequency of the Hybrid Mortgage Loans | ||||||||
Rate Adjustment Frequency | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Annually | 92 | 74,248,298.90 | 88.72 | 807,046.73 | 3.843 | 762 | 66.56 | 68.20 |
Monthly | 7 | 9,437,000.00 | 11.28 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Margin of the Hybrid Mortgage Loans | ||||||||
Margin (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
1.450 | 1 | 855,000.00 | 1.02 | 855,000.00 | 3.100 | 778 | 51.81 | 77.87 |
1.625 | 6 | 8,582,000.00 | 10.26 | 1,430,333.33 | 3.884 | 784 | 65.65 | 70.57 |
2.250 | 91 | 73,755,084.94 | 88.13 | 810,495.44 | 3.838 | 762 | 66.50 | 68.09 |
2.750 | 1 | 493,213.96 | 0.59 | 493,213.96 | 4.625 | 762 | 75.00 | 83.58 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average margin of the Hybrid mortgage loans in Pool 1 at origination was approximately 2.18%.
- 70 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Initial Fixed Rate Period of the Hybrid Mortgage Loans | ||||||||
(Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
60 | 15 | 12,984,730.47 | 15.52 | 865,648.70 | 3.434 | 772 | 65.11 | 67.70 |
84 | 1 | 1,010,086.69 | 1.21 | 1,010,086.69 | 3.375 | 798 | 68.00 | 68.00 |
120 | 83 | 69,690,481.74 | 83.28 | 839,644.36 | 3.922 | 763 | 66.51 | 68.70 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Initial Periodic Cap of the Hybrid Mortgage Loans | ||||||||
Initial Periodic Cap (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
5.000 | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
Subsequent Periodic Cap of the Hybrid Mortgage Loans | ||||||||
Subsequent Periodic Cap (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 7 | 9,437,000.00 | 11.28 | 1,348,142.86 | 3.813 | 783 | 64.39 | 71.23 |
2.000 | 92 | 74,248,298.90 | 88.72 | 807,046.73 | 3.843 | 762 | 66.56 | 68.20 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
- 71 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 1) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Maximum Mortgage Rate of the Hybrid Mortgage Loans | ||||||||
Range of Maximum Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
7.751 to 8.000 | 3 | 3,861,290.68 | 4.61 | 1,287,096.89 | 2.945 | 788 | 66.00 | 68.92 |
8.001 to 8.250 | 2 | 1,789,037.96 | 2.14 | 894,518.98 | 3.178 | 765 | 48.54 | 60.99 |
8.251 to 8.500 | 20 | 15,582,171.07 | 18.62 | 779,108.55 | 3.455 | 778 | 70.25 | 72.21 |
8.501 to 8.750 | 28 | 20,793,139.53 | 24.85 | 742,612.13 | 3.687 | 763 | 68.98 | 70.36 |
8.751 to 9.000 | 17 | 15,617,318.34 | 18.66 | 918,665.78 | 3.941 | 749 | 63.88 | 65.51 |
9.001 to 9.250 | 14 | 11,354,090.37 | 13.57 | 811,006.46 | 4.168 | 765 | 62.31 | 65.76 |
9.251 to 9.500 | 11 | 11,630,418.67 | 13.90 | 1,057,310.79 | 4.366 | 762 | 65.97 | 68.10 |
9.501 to 9.750 | 4 | 3,057,832.28 | 3.65 | 764,458.07 | 4.625 | 767 | 67.41 | 68.79 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average maximum rate of the Hybrid mortgage loans in Pool 1 at origination was approximately 8.84%.
Minimum Mortgage Rate of the Hybrid Mortgage Loans | ||||||||
Range of Minimum Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
2.001 to 2.250 | 91 | 73,755,084.94 | 88.13 | 810,495.44 | 3.838 | 762 | 66.50 | 68.09 |
2.501 to 2.750 | 2 | 2,818,213.96 | 3.37 | 1,409,106.98 | 3.243 | 775 | 69.54 | 71.04 |
2.751 to 3.000 | 6 | 7,112,000.00 | 8.50 | 1,185,333.33 | 4.095 | 785 | 63.09 | 72.17 |
Total: | 99 | 83,685,298.90 | 100.00 | 845,306.05 | 3.840 | 765 | 66.31 | 68.54 |
The weighted average minimum rate of the Hybrid mortgage loans in Pool 1 at origination was approximately 2.32%.
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
Collateral Summary (Pool 2) | |||
Statistics for the Mortgage Loans listed below are based on Cut-off Date scheduled balances. | |||
Minimum | Maximum | ||
Scheduled Principal Balance: | $234,293,358.70 | $449,995.88 | $2,986,402.21 |
Number of Mortgage Loans: | 292 | ||
30 Year Fixed Rate Percentage: | 99.67% | ||
20 Year Fixed Rate Percentage: | 0.33% | ||
Average Scheduled Principal Balance: | $802,374.52 | ||
Weighted Average Gross Mortgage Rate: | 4.027% | 3.200% | 4.750% |
Weighted Average Seasoning: | 3 Months | 0 Months | 38 Months |
Weighted Average Original LTV Ratio: | 67.44% | 17.77% | 84.05% |
Weighted Average Original Combined LTV Ratio: | 68.28% | 26.00% | 84.05% |
Weighted Average Original Credit Score: | 771 | 667 | 816 |
Weighted Average Original Debt-to-Income Ratio: | 30.15% | 3.48% | 51.67% |
Original Interest Only (10 Years) Loans Percentage: | 0.00% | ||
Weighted Average Original Term to Maturity: | 360 Months | 240 Months | 360 Months |
Weighted Average Remaining Term to Maturity: | 356 Months | 235 Months | 360 Months |
First Lien Percentage at Origination: | 100% | ||
Loans with Seconds at Origination: | 7.32% |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Product Type of the Mortgage Loans | ||||||||
Product Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20 Years Fixed Rate | 1 | 773,778.39 | 0.33 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
30 Years Fixed Rate | 291 | 233,519,580.31 | 99.67 | 802,472.78 | 4.028 | 771 | 67.42 | 68.25 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 74 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Principal Balances of the Mortgage Loans at Origination | ||||||||
Range of Original Principal Balances ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
400,000.01 to 500,000.00 | 7 | 3,359,626.95 | 1.43 | 479,946.71 | 3.980 | 771 | 68.32 | 68.32 |
500,000.01 to 600,000.00 | 43 | 23,798,368.93 | 10.16 | 553,450.44 | 4.063 | 777 | 72.55 | 73.38 |
600,000.01 to 700,000.00 | 69 | 45,354,732.99 | 19.36 | 657,314.97 | 4.068 | 775 | 65.64 | 67.36 |
700,000.01 to 800,000.00 | 56 | 41,331,161.44 | 17.64 | 738,056.45 | 4.059 | 773 | 67.72 | 68.86 |
800,000.01 to 900,000.00 | 37 | 31,387,349.88 | 13.40 | 848,306.75 | 4.012 | 774 | 66.91 | 67.23 |
900,000.01 to 1,000,000.00 | 46 | 44,425,117.02 | 18.96 | 965,763.41 | 4.047 | 766 | 66.02 | 66.62 |
1,000,000.01 to 1,100,000.00 | 9 | 9,599,835.26 | 4.10 | 1,066,648.36 | 3.882 | 775 | 66.66 | 66.66 |
1,100,000.01 to 1,200,000.00 | 8 | 9,191,919.57 | 3.92 | 1,148,989.95 | 4.051 | 776 | 72.51 | 72.51 |
1,200,000.01 to 1,300,000.00 | 4 | 5,035,717.48 | 2.15 | 1,258,929.37 | 3.931 | 759 | 70.98 | 70.98 |
1,300,000.01 to 1,400,000.00 | 4 | 5,369,654.59 | 2.29 | 1,342,413.65 | 3.916 | 782 | 69.41 | 72.01 |
1,400,000.01 to 1,500,000.00 | 5 | 7,317,575.92 | 3.12 | 1,463,515.18 | 3.949 | 767 | 68.45 | 68.45 |
1,500,000.01 to 1,600,000.00 | 1 | 1,514,372.03 | 0.65 | 1,514,372.03 | 4.125 | 760 | 63.45 | 63.45 |
1,700,000.01 to 1,800,000.00 | 1 | 1,710,000.00 | 0.73 | 1,710,000.00 | 3.650 | 774 | 58.96 | 58.96 |
1,900,000.01 to 2,000,000.00 | 1 | 1,911,524.43 | 0.82 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
2,900,000.01 to 3,000,000.00 | 1 | 2,986,402.21 | 1.27 | 2,986,402.21 | 3.750 | 746 | 62.50 | 62.50 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The average loan balance of the mortgage loans at origination was approximately $806,755.26.
- 75 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Scheduled Principal Balances of the Mortgage Loans as of the Cut-off-Date | ||||||||
Range of Current Principal Balances ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
400,000.01 to 500,000.00 | 9 | 4,358,734.17 | 1.86 | 484,303.80 | 3.984 | 776 | 69.08 | 69.08 |
500,000.01 to 600,000.00 | 41 | 22,799,261.71 | 9.73 | 556,079.55 | 4.066 | 776 | 72.59 | 73.45 |
600,000.01 to 700,000.00 | 71 | 46,749,384.35 | 19.95 | 658,442.03 | 4.068 | 774 | 65.52 | 67.19 |
700,000.01 to 800,000.00 | 55 | 40,691,864.53 | 17.37 | 739,852.08 | 4.058 | 774 | 67.77 | 68.93 |
800,000.01 to 900,000.00 | 36 | 30,631,995.43 | 13.07 | 850,888.76 | 4.012 | 773 | 67.10 | 67.43 |
900,000.01 to 1,000,000.00 | 46 | 44,425,117.02 | 18.96 | 965,763.41 | 4.047 | 766 | 66.02 | 66.62 |
1,000,000.01 to 1,100,000.00 | 9 | 9,599,835.26 | 4.10 | 1,066,648.36 | 3.882 | 775 | 66.66 | 66.66 |
1,100,000.01 to 1,200,000.00 | 8 | 9,191,919.57 | 3.92 | 1,148,989.95 | 4.051 | 776 | 72.51 | 72.51 |
1,200,000.01 to 1,300,000.00 | 4 | 5,035,717.48 | 2.15 | 1,258,929.37 | 3.931 | 759 | 70.98 | 70.98 |
1,300,000.01 to 1,400,000.00 | 4 | 5,369,654.59 | 2.29 | 1,342,413.65 | 3.916 | 782 | 69.41 | 72.01 |
1,400,000.01 to 1,500,000.00 | 5 | 7,317,575.92 | 3.12 | 1,463,515.18 | 3.949 | 767 | 68.45 | 68.45 |
1,500,000.01 to 1,600,000.00 | 1 | 1,514,372.03 | 0.65 | 1,514,372.03 | 4.125 | 760 | 63.45 | 63.45 |
1,700,000.01 to 1,800,000.00 | 1 | 1,710,000.00 | 0.73 | 1,710,000.00 | 3.650 | 774 | 58.96 | 58.96 |
1,900,000.01 to 2,000,000.00 | 1 | 1,911,524.43 | 0.82 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
2,900,000.01 to 3,000,000.00 | 1 | 2,986,402.21 | 1.27 | 2,986,402.21 | 3.750 | 746 | 62.50 | 62.50 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The average loan balance of the mortgage loans as of the cut-off date was approximately $802,374.52.
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Gross Mortgage Rates of the Mortgage Loans as of the Cut-off Date | ||||||||
Range of Gross Mortgage Rates (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
3.001 to 3.250 | 1 | 1,100,000.00 | 0.47 | 1,100,000.00 | 3.200 | 816 | 69.35 | 69.35 |
3.251 to 3.500 | 5 | 4,073,424.89 | 1.74 | 814,684.98 | 3.483 | 750 | 68.39 | 68.39 |
3.501 to 3.750 | 34 | 32,141,439.78 | 13.72 | 945,336.46 | 3.699 | 773 | 65.95 | 66.72 |
3.751 to 4.000 | 117 | 92,285,870.09 | 39.39 | 788,768.12 | 3.942 | 771 | 64.86 | 66.10 |
4.001 to 4.250 | 104 | 81,025,368.97 | 34.58 | 779,090.09 | 4.183 | 771 | 69.80 | 70.39 |
4.251 to 4.500 | 30 | 23,017,038.06 | 9.82 | 767,234.60 | 4.390 | 775 | 71.94 | 72.32 |
4.501 to 4.750 | 1 | 650,216.91 | 0.28 | 650,216.91 | 4.750 | 702 | 45.55 | 45.55 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average gross mortgage rate of the mortgage loans as of the cut-off date was approximately 4.03%.
Seasoning of the Mortgage Loans | ||||||||
Seasoning (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0 | 2 | 2,810,000.00 | 1.20 | 1,405,000.00 | 3.474 | 790 | 63.03 | 63.03 |
1 to 2 | 180 | 141,955,929.42 | 60.59 | 788,644.05 | 3.985 | 772 | 67.96 | 68.63 |
3 to 4 | 73 | 62,370,510.11 | 26.62 | 854,390.55 | 4.114 | 769 | 68.93 | 69.56 |
5 to 6 | 13 | 9,536,325.77 | 4.07 | 733,563.52 | 4.171 | 760 | 63.87 | 69.01 |
7 to 8 | 6 | 3,597,699.44 | 1.54 | 599,616.57 | 4.016 | 773 | 65.08 | 65.97 |
9 to 10 | 7 | 6,130,858.13 | 2.62 | 875,836.88 | 4.082 | 770 | 56.85 | 58.19 |
11 to 12 | 3 | 2,483,073.24 | 1.06 | 827,691.08 | 4.192 | 725 | 59.90 | 59.90 |
15 to 16 | 2 | 1,444,116.01 | 0.62 | 722,058.01 | 3.990 | 802 | 56.81 | 56.81 |
17 to 18 | 1 | 755,354.45 | 0.32 | 755,354.45 | 3.990 | 811 | 59.21 | 59.21 |
19 to 20 | 2 | 957,896.35 | 0.41 | 478,948.18 | 3.990 | 800 | 64.19 | 64.19 |
23 to 24 | 1 | 647,840.72 | 0.28 | 647,840.72 | 4.125 | 794 | 68.71 | 68.71 |
35 to 36 | 1 | 761,320.03 | 0.32 | 761,320.03 | 3.990 | 786 | 60.95 | 60.95 |
37 to 38 | 1 | 842,435.03 | 0.36 | 842,435.03 | 3.990 | 798 | 68.99 | 68.99 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average seasoning of the mortgage loans as of the cut-off date was approximately 3 months.
- 77 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Loan-to-Value Ratio of the Mortgage Loans at Origination | ||||||||
Range of Original Loan-to- | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
15.01 to 20.00 | 1 | 797,639.07 | 0.34 | 797,639.07 | 3.875 | 792 | 17.77 | 28.88 |
25.01 to 30.00 | 1 | 648,165.17 | 0.28 | 648,165.17 | 4.125 | 814 | 26.00 | 26.00 |
30.01 to 35.00 | 4 | 2,960,279.07 | 1.26 | 740,069.77 | 4.041 | 792 | 33.31 | 35.07 |
35.01 to 40.00 | 2 | 1,381,265.98 | 0.59 | 690,632.99 | 4.184 | 769 | 37.72 | 47.11 |
40.01 to 45.00 | 10 | 7,990,905.04 | 3.41 | 799,090.50 | 4.069 | 775 | 42.70 | 48.37 |
45.01 to 50.00 | 8 | 6,058,628.00 | 2.59 | 757,328.50 | 3.958 | 764 | 46.63 | 49.39 |
50.01 to 55.00 | 16 | 13,820,884.86 | 5.90 | 863,805.30 | 3.961 | 767 | 52.58 | 52.92 |
55.01 to 60.00 | 31 | 27,969,648.53 | 11.94 | 902,246.73 | 3.931 | 769 | 58.16 | 59.65 |
60.01 to 65.00 | 31 | 26,629,292.30 | 11.37 | 859,009.43 | 3.982 | 767 | 62.97 | 63.78 |
65.01 to 70.00 | 46 | 35,716,737.52 | 15.24 | 776,450.82 | 4.042 | 774 | 68.40 | 69.20 |
70.01 to 75.00 | 49 | 40,443,250.26 | 17.26 | 825,372.45 | 4.031 | 773 | 73.73 | 73.98 |
75.01 to 80.00 | 92 | 68,392,928.97 | 29.19 | 743,401.40 | 4.079 | 770 | 79.18 | 79.18 |
80.01 to 85.00 | 1 | 1,483,733.93 | 0.63 | 1,483,733.93 | 4.250 | 807 | 84.05 | 84.05 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average loan-to-value ratio of the mortgage loans at origination was approximately 67.44%.
- 78 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Combined Loan-to-Value Ratio of the Mortgage Loans at Origination | ||||||||
Range of Original Combined Loan-to-Value Ratios (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
25.01 to 30.00 | 2 | 1,445,804.24 | 0.62 | 722,902.12 | 3.987 | 802 | 21.46 | 27.59 |
30.01 to 35.00 | 3 | 2,265,290.91 | 0.97 | 755,096.97 | 4.054 | 790 | 32.83 | 32.83 |
35.01 to 40.00 | 1 | 732,878.24 | 0.31 | 732,878.24 | 4.125 | 784 | 38.13 | 38.13 |
40.01 to 45.00 | 7 | 5,826,558.44 | 2.49 | 832,365.49 | 4.052 | 779 | 41.64 | 42.53 |
45.01 to 50.00 | 7 | 5,389,522.51 | 2.30 | 769,931.79 | 3.954 | 761 | 46.43 | 46.43 |
50.01 to 55.00 | 16 | 14,073,987.38 | 6.01 | 879,624.21 | 3.974 | 767 | 51.88 | 52.47 |
55.01 to 60.00 | 31 | 27,376,406.31 | 11.68 | 883,109.88 | 3.943 | 768 | 56.79 | 58.06 |
60.01 to 65.00 | 29 | 25,301,385.45 | 10.80 | 872,461.57 | 3.996 | 770 | 62.88 | 62.89 |
65.01 to 70.00 | 44 | 33,802,876.12 | 14.43 | 768,247.18 | 4.046 | 775 | 68.21 | 68.45 |
70.01 to 75.00 | 52 | 42,832,958.12 | 18.28 | 823,710.73 | 4.023 | 773 | 72.37 | 73.74 |
75.01 to 80.00 | 99 | 73,761,957.05 | 31.48 | 745,070.27 | 4.070 | 769 | 78.21 | 79.18 |
80.01 to 85.00 | 1 | 1,483,733.93 | 0.63 | 1,483,733.93 | 4.250 | 807 | 84.05 | 84.05 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average combined loan-to-value ratio of the mortgage loans at origination was approximately 68.28%. The original combined loan-to value was calculated using the full lien amount (drawn and undrawn) for the second mortgage. Using only the drawn amount of the second mortgage at the time of origination, the weighted average original combined loan-to-value ratio would have been approximately 68.21%.
- 79 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Credit Scores of the Mortgage Loans at Origination | ||||||||
Range of Credit Scores | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
661 to 670 | 1 | 1,070,963.66 | 0.46 | 1,070,963.66 | 4.115 | 667 | 61.97 | 61.97 |
671 to 680 | 1 | 612,432.02 | 0.26 | 612,432.02 | 4.000 | 677 | 80.00 | 80.00 |
681 to 690 | 1 | 863,131.21 | 0.37 | 863,131.21 | 4.250 | 689 | 79.09 | 79.09 |
691 to 700 | 1 | 1,911,524.43 | 0.82 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
701 to 710 | 1 | 650,216.91 | 0.28 | 650,216.91 | 4.750 | 702 | 45.55 | 45.55 |
711 to 720 | 3 | 2,183,765.22 | 0.93 | 727,921.74 | 4.163 | 720 | 76.36 | 76.36 |
721 to 730 | 13 | 10,667,399.93 | 4.55 | 820,569.23 | 4.025 | 726 | 67.23 | 67.23 |
731 to 740 | 20 | 16,283,000.82 | 6.95 | 814,150.04 | 3.943 | 735 | 68.17 | 71.03 |
741 to 750 | 16 | 15,271,797.04 | 6.52 | 954,487.32 | 3.949 | 746 | 69.02 | 69.93 |
751 to 760 | 26 | 22,074,947.26 | 9.42 | 849,036.43 | 4.059 | 757 | 66.45 | 67.03 |
761 to 770 | 36 | 27,649,066.82 | 11.80 | 768,029.63 | 4.036 | 765 | 68.17 | 68.53 |
771 to 780 | 33 | 27,838,307.65 | 11.88 | 843,585.08 | 3.997 | 776 | 70.19 | 71.11 |
781 to 790 | 60 | 47,195,629.71 | 20.14 | 786,593.83 | 4.049 | 785 | 66.36 | 67.63 |
791 to 800 | 50 | 37,309,871.56 | 15.92 | 746,197.43 | 4.080 | 795 | 65.19 | 65.79 |
801 to 810 | 22 | 16,175,379.03 | 6.90 | 735,244.50 | 4.021 | 805 | 68.47 | 68.73 |
811 to 820 | 8 | 6,535,925.43 | 2.79 | 816,990.68 | 3.827 | 813 | 68.47 | 68.47 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average credit score of the mortgage loans at origination was approximately 771.
- 80 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Documentation Type of the Mortgage loans | ||||||||
Documentation Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Two Years Income with Assets | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Monthly Income of the Mortgage Borrower at Origination | ||||||||
Range of Monthly Income ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
5,000.01 to 10,000.00 | 5 | 3,034,549.11 | 1.30 | 606,909.82 | 3.907 | 744 | 62.13 | 62.13 |
10,000.01 to 20,000.00 | 118 | 84,084,353.64 | 35.89 | 712,579.27 | 4.084 | 775 | 67.65 | 68.04 |
20,000.01 to 30,000.00 | 91 | 72,271,879.29 | 30.85 | 794,196.48 | 4.030 | 773 | 69.45 | 70.40 |
30,000.01 to 40,000.00 | 44 | 36,969,000.38 | 15.78 | 840,204.55 | 3.971 | 773 | 68.10 | 69.73 |
40,000.01 to 50,000.00 | 10 | 9,924,734.21 | 4.24 | 992,473.42 | 3.965 | 765 | 69.47 | 69.47 |
50,000.01 to 60,000.00 | 6 | 5,733,810.23 | 2.45 | 955,635.04 | 4.088 | 753 | 58.39 | 61.89 |
60,000.01 to 70,000.00 | 6 | 6,744,965.69 | 2.88 | 1,124,160.95 | 3.847 | 751 | 60.30 | 62.37 |
70,000.01 to 80,000.00 | 2 | 2,458,921.61 | 1.05 | 1,229,460.81 | 3.827 | 765 | 47.19 | 47.19 |
80,000.01 to 90,000.00 | 1 | 612,186.98 | 0.26 | 612,186.98 | 3.875 | 807 | 53.85 | 53.85 |
90,000.01 to 100,000.00 | 3 | 2,881,965.52 | 1.23 | 960,655.17 | 4.311 | 789 | 75.37 | 75.37 |
100,000.01 to 200,000.00 | 4 | 5,599,322.48 | 2.39 | 1,399,830.62 | 3.938 | 750 | 64.50 | 64.50 |
200,000.01 to 300,000.00 | 2 | 3,977,669.56 | 1.70 | 1,988,834.78 | 3.810 | 755 | 57.53 | 57.53 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average monthly income of the mortgage borrower at origination was approximately $33,980.90.
- 81 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Debt-to-Income Ratio of the Mortgage Loans at Origination | ||||||||
Range of Debt-to-Income Ratios (%) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
0.01 to 5.00 | 1 | 991,267.35 | 0.42 | 991,267.35 | 3.990 | 781 | 42.55 | 42.55 |
5.01 to 10.00 | 6 | 5,681,955.09 | 2.43 | 946,992.52 | 4.003 | 778 | 59.63 | 59.63 |
10.01 to 15.00 | 9 | 10,731,955.10 | 4.58 | 1,192,439.46 | 3.993 | 755 | 65.59 | 69.02 |
15.01 to 20.00 | 26 | 20,477,867.23 | 8.74 | 787,610.28 | 4.035 | 774 | 66.54 | 66.89 |
20.01 to 25.00 | 37 | 27,662,807.86 | 11.81 | 747,643.46 | 4.019 | 768 | 69.02 | 69.53 |
25.01 to 30.00 | 55 | 43,658,839.66 | 18.63 | 793,797.08 | 3.988 | 773 | 65.66 | 66.46 |
30.01 to 35.00 | 55 | 42,862,488.92 | 18.29 | 779,317.98 | 4.006 | 776 | 67.23 | 68.21 |
35.01 to 40.00 | 57 | 44,981,300.06 | 19.20 | 789,145.62 | 4.047 | 766 | 70.24 | 71.00 |
40.01 to 45.00 | 42 | 33,692,632.26 | 14.38 | 802,205.53 | 4.093 | 775 | 67.95 | 68.75 |
45.01 to 50.00 | 2 | 1,541,084.07 | 0.66 | 770,542.04 | 3.955 | 764 | 71.33 | 71.33 |
50.01 to 55.00 | 2 | 2,011,161.10 | 0.86 | 1,005,580.55 | 4.098 | 783 | 67.94 | 67.94 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average debt-to-income ratio of the mortgage loans at origination was approximately 30.15%.
- 82 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Verified Assets of the Mortgage Borrower at Origination | ||||||||
Range of Assets Verified ($) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
20,000.01 to 50,000.00 | 18 | 11,366,304.50 | 4.85 | 631,461.36 | 4.076 | 777 | 71.86 | 72.30 |
50,000.01 to 100,000.00 | 63 | 45,557,872.65 | 19.44 | 723,140.84 | 4.049 | 769 | 68.62 | 68.90 |
100,000.01 to 150,000.00 | 42 | 31,090,204.70 | 13.27 | 740,242.97 | 4.058 | 776 | 67.97 | 68.87 |
150,000.01 to 200,000.00 | 34 | 27,773,807.28 | 11.85 | 816,876.68 | 4.079 | 769 | 69.22 | 69.51 |
200,000.01 to 250,000.00 | 26 | 20,403,591.94 | 8.71 | 784,753.54 | 4.071 | 769 | 68.22 | 68.90 |
250,000.01 to 300,000.00 | 17 | 13,088,644.40 | 5.59 | 769,920.26 | 4.126 | 768 | 73.30 | 73.30 |
300,000.01 to 350,000.00 | 12 | 9,711,562.39 | 4.15 | 809,296.87 | 4.044 | 763 | 69.73 | 71.50 |
350,000.01 to 400,000.00 | 11 | 8,787,012.22 | 3.75 | 798,819.29 | 4.069 | 777 | 61.33 | 63.36 |
400,000.01 to 450,000.00 | 9 | 8,184,860.01 | 3.49 | 909,428.89 | 4.007 | 774 | 75.11 | 76.81 |
450,000.01 to 500,000.00 | 2 | 1,666,282.66 | 0.71 | 833,141.33 | 4.071 | 768 | 60.12 | 70.16 |
500,000.01 to 550,000.00 | 9 | 7,723,926.11 | 3.30 | 858,214.01 | 4.000 | 777 | 66.56 | 67.61 |
550,000.01 to 600,000.00 | 5 | 4,600,725.77 | 1.96 | 920,145.15 | 4.019 | 774 | 61.60 | 67.86 |
600,000.01 to 650,000.00 | 3 | 2,713,266.93 | 1.16 | 904,422.31 | 3.693 | 782 | 59.12 | 59.12 |
650,000.01 to 700,000.00 | 3 | 2,554,831.26 | 1.09 | 851,610.42 | 3.896 | 790 | 63.54 | 63.54 |
700,000.01 to 750,000.00 | 5 | 4,998,606.78 | 2.13 | 999,721.36 | 3.740 | 756 | 55.58 | 55.58 |
750,000.01 to 800,000.00 | 4 | 3,498,368.75 | 1.49 | 874,592.19 | 3.910 | 774 | 44.95 | 47.48 |
800,000.01 to 900,000.00 | 5 | 4,491,786.09 | 1.92 | 898,357.22 | 3.719 | 799 | 75.80 | 75.80 |
900,000.01 to 1,000,000.00 | 3 | 2,824,729.58 | 1.21 | 941,576.53 | 4.154 | 754 | 71.99 | 71.99 |
1,000,000.01 to 3,000,000.00 | 17 | 17,500,159.26 | 7.47 | 1,029,421.13 | 3.974 | 773 | 62.37 | 63.35 |
3,000,000.01 to 5,000,000.00 | 1 | 1,046,969.24 | 0.45 | 1,046,969.24 | 4.000 | 781 | 75.00 | 75.00 |
5,000,000.01 to 7,000,000.00 | 1 | 1,911,524.43 | 0.82 | 1,911,524.43 | 3.900 | 697 | 60.00 | 60.00 |
11,000,000.01 to 13,000,000.00 | 1 | 1,710,000.00 | 0.73 | 1,710,000.00 | 3.650 | 774 | 58.96 | 58.96 |
13,000,000.01 to 15,000,000.00 | 1 | 1,088,321.75 | 0.46 | 1,088,321.75 | 3.625 | 789 | 50.69 | 50.69 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average verified assets of the mortgage borrowers at origination was approximately $572,972.50.
- 83 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) |
Collateral characteristics are listed below as of the Cut-off Date |
Self-Employment Status of the Mortgage Borrower at Origination | ||||||||
Self-Employed Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Not Self-Employed | 228 | 180,610,202.75 | 77.09 | 792,150.01 | 4.011 | 774 | 67.48 | 68.27 |
Self-Employed | 64 | 53,683,155.95 | 22.91 | 838,799.31 | 4.081 | 764 | 67.30 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 84 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Interest Only Term of the Mortgage Loans at Origination | ||||||||
Interest Only Term (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Occupancy Type of the Mortgage Loans | ||||||||
Occupancy Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Investment Property | 2 | 1,207,499.12 | 0.52 | 603,749.56 | 4.145 | 771 | 60.77 | 60.77 |
Owner-Occupied | 282 | 226,239,791.72 | 96.56 | 802,268.76 | 4.032 | 771 | 67.54 | 68.41 |
Second Home | 8 | 6,846,067.86 | 2.92 | 855,758.48 | 3.830 | 786 | 65.25 | 65.25 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Loan Purpose of the Mortgage Loans | ||||||||
Loan Purpose | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Cash-Out Refinance | 20 | 17,315,957.41 | 7.39 | 865,797.87 | 3.950 | 758 | 58.03 | 59.71 |
Purchase | 104 | 83,015,303.73 | 35.43 | 798,224.07 | 3.982 | 771 | 74.24 | 74.58 |
Rate Term Refinance | 168 | 133,962,097.56 | 57.18 | 797,393.44 | 4.064 | 773 | 64.45 | 65.48 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 85 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Property Types of the Mortgage Loans | ||||||||
Property Type | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Single Family | 214 | 176,015,447.43 | 75.13 | 822,502.09 | 4.027 | 771 | 66.95 | 67.78 |
Planned Unit Development | 67 | 48,099,297.45 | 20.53 | 717,899.96 | 4.049 | 772 | 68.86 | 69.91 |
Condominium | 9 | 8,130,472.89 | 3.47 | 903,385.88 | 3.953 | 772 | 72.84 | 72.84 |
Cooperative Unit | 1 | 1,464,741.29 | 0.63 | 1,464,741.29 | 3.625 | 754 | 50.58 | 50.58 |
Two-to-Four Family | 1 | 583,399.64 | 0.25 | 583,399.64 | 4.300 | 781 | 65.00 | 65.00 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 86 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Geographic Concentration of the Mortgage Loans (States) | ||||||||
State | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
California | 152 | 130,830,548.32 | 55.84 | 860,727.29 | 4.027 | 772 | 67.02 | 67.77 |
Massachusetts | 47 | 34,394,220.93 | 14.68 | 731,791.93 | 4.020 | 772 | 63.30 | 65.53 |
Washington | 16 | 11,343,412.03 | 4.84 | 708,963.25 | 4.014 | 765 | 71.85 | 71.85 |
Illinois | 11 | 8,753,588.35 | 3.74 | 795,780.76 | 4.100 | 779 | 70.28 | 70.28 |
Florida | 12 | 7,776,665.08 | 3.32 | 648,055.42 | 4.050 | 757 | 72.91 | 72.91 |
Texas | 9 | 6,340,675.32 | 2.71 | 704,519.48 | 4.050 | 773 | 74.25 | 74.25 |
Colorado | 7 | 5,451,845.17 | 2.33 | 778,835.02 | 4.085 | 776 | 69.19 | 69.19 |
Connecticut | 2 | 3,672,279.25 | 1.57 | 1,836,139.63 | 3.750 | 756 | 63.50 | 63.50 |
Virginia | 4 | 2,535,903.34 | 1.08 | 633,975.84 | 4.189 | 781 | 78.07 | 79.72 |
New York | 2 | 2,202,605.32 | 0.94 | 1,101,302.66 | 3.751 | 756 | 60.44 | 60.44 |
Arizona | 3 | 1,787,365.66 | 0.76 | 595,788.55 | 4.044 | 801 | 58.85 | 58.85 |
Georgia | 3 | 1,748,324.22 | 0.75 | 582,774.74 | 3.986 | 778 | 77.70 | 80.00 |
Tennessee | 2 | 1,714,177.66 | 0.73 | 857,088.83 | 4.164 | 784 | 68.13 | 68.13 |
Missouri | 3 | 1,694,562.70 | 0.72 | 564,854.23 | 4.128 | 768 | 78.27 | 78.27 |
South Carolina | 2 | 1,552,530.01 | 0.66 | 776,265.01 | 3.843 | 775 | 59.65 | 59.65 |
Nevada | 2 | 1,454,101.68 | 0.62 | 727,050.84 | 4.067 | 773 | 65.30 | 65.30 |
Delaware | 2 | 1,419,598.91 | 0.61 | 709,799.46 | 3.948 | 784 | 68.95 | 68.95 |
Pennsylvania | 2 | 1,290,313.99 | 0.55 | 645,157.00 | 3.875 | 790 | 73.29 | 73.29 |
Louisiana | 1 | 997,177.17 | 0.43 | 997,177.17 | 4.125 | 755 | 68.11 | 68.11 |
Oregon | 1 | 997,176.16 | 0.43 | 997,176.16 | 4.125 | 720 | 79.99 | 79.99 |
Vermont | 1 | 959,284.44 | 0.41 | 959,284.44 | 4.125 | 764 | 46.92 | 46.92 |
Indiana | 1 | 947,196.39 | 0.40 | 947,196.39 | 3.875 | 790 | 58.46 | 71.38 |
Maryland | 1 | 797,586.39 | 0.34 | 797,586.39 | 3.750 | 800 | 80.00 | 80.00 |
New Mexico | 1 | 777,798.19 | 0.33 | 777,798.19 | 4.125 | 745 | 65.00 | 65.00 |
Montana | 1 | 645,371.84 | 0.28 | 645,371.84 | 4.375 | 778 | 76.23 | 76.23 |
New Jersey | 1 | 642,182.10 | 0.27 | 642,182.10 | 4.125 | 779 | 69.62 | 69.62 |
Michigan | 1 | 558,488.60 | 0.24 | 558,488.60 | 4.375 | 766 | 78.87 | 78.87 |
Minnesota | 1 | 558,383.60 | 0.24 | 558,383.60 | 4.000 | 795 | 70.00 | 70.00 |
Kansas | 1 | 449,995.88 | 0.19 | 449,995.88 | 3.875 | 794 | 80.00 | 80.00 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 87 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Geographic Concentration of the Mortgage Loans (Top 10 Cities) | ||||||||
City | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
San Francisco, CA | 16 | 15,119,867.83 | 6.45 | 944,991.74 | 3.936 | 770 | 71.65 | 73.45 |
Los Angeles, CA | 6 | 6,332,545.19 | 2.70 | 1,055,424.20 | 4.117 | 761 | 69.65 | 69.65 |
San Diego, CA | 8 | 5,671,452.54 | 2.42 | 708,931.57 | 4.072 | 786 | 66.47 | 66.47 |
Needham, MA | 6 | 4,264,929.32 | 1.82 | 710,821.55 | 4.043 | 794 | 61.61 | 61.61 |
Mountain View, CA | 5 | 4,201,844.41 | 1.79 | 840,368.88 | 4.146 | 756 | 63.10 | 65.02 |
Menlo Park, CA | 5 | 4,143,642.66 | 1.77 | 828,728.53 | 4.398 | 770 | 55.48 | 55.48 |
Santa Barbara, CA | 4 | 4,046,680.49 | 1.73 | 1,011,670.12 | 4.042 | 763 | 56.50 | 56.50 |
San Mateo, CA | 4 | 3,987,708.35 | 1.70 | 996,927.09 | 4.095 | 779 | 58.78 | 58.78 |
Fairfield, CT | 2 | 3,672,279.25 | 1.57 | 1,836,139.63 | 3.750 | 756 | 63.50 | 63.50 |
Danville, CA | 4 | 3,128,187.90 | 1.34 | 782,046.98 | 4.098 | 766 | 70.30 | 71.88 |
Other | 232 | 179,724,220.76 | 76.71 | 774,673.37 | 4.021 | 772 | 68.02 | 68.89 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Original Term to Maturity of the Mortgage Loans | ||||||||
Original Term to Maturity (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
240 | 1 | 773,778.39 | 0.33 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
360 | 291 | 233,519,580.31 | 99.67 | 802,472.78 | 4.028 | 771 | 67.42 | 68.25 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average original term to maturity of the mortgage loans at origination was approximately 360 months.
- 88 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Remaining Term to Maturity of the Mortgage Loans | ||||||||
Remaining Term to Maturity (Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
231 to 235 | 1 | 773,778.39 | 0.33 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
321 to 325 | 2 | 1,603,755.06 | 0.68 | 801,877.53 | 3.990 | 792 | 65.17 | 65.17 |
336 to 340 | 2 | 1,128,809.45 | 0.48 | 564,404.73 | 4.067 | 797 | 68.03 | 68.03 |
341 to 345 | 4 | 2,676,398.08 | 1.14 | 669,099.52 | 3.990 | 804 | 58.28 | 58.28 |
346 to 350 | 5 | 4,265,859.67 | 1.82 | 853,171.93 | 4.107 | 739 | 57.04 | 58.97 |
351 to 355 | 23 | 16,708,318.52 | 7.13 | 726,448.63 | 4.155 | 768 | 62.20 | 65.32 |
356 to 360 | 255 | 207,136,439.53 | 88.41 | 812,299.76 | 4.017 | 772 | 68.18 | 68.84 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
The weighted average remaining term to maturity of the mortgage loans as of the cut-off date was approximately 356 months.
Prepayment Penalty Term of the Mortgage Loans at Origination | ||||||||
Prepayment Penalty Term | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 276 | 216,534,311.08 | 92.42 | 784,544.61 | 4.054 | 772 | 67.18 | 68.02 |
60 | 16 | 17,759,047.62 | 7.58 | 1,109,940.48 | 3.696 | 761 | 70.60 | 71.38 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 89 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Originators of the Mortgage Loans | ||||||||
Originator | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
EverBank | 33 | 25,635,960.92 | 10.94 | 776,847.30 | 4.117 | 772 | 71.78 | 72.09 |
Fremont Bank | 28 | 21,837,609.96 | 9.32 | 779,914.64 | 3.996 | 771 | 65.91 | 66.84 |
Rockland Trust Company | 29 | 21,239,688.38 | 9.07 | 732,403.05 | 4.049 | 771 | 59.05 | 61.89 |
Flagstar Bank, F.S.B. | 23 | 18,610,503.94 | 7.94 | 809,152.35 | 4.188 | 771 | 64.86 | 65.54 |
First Republic Bank | 17 | 18,541,880.75 | 7.91 | 1,090,698.87 | 3.720 | 762 | 70.55 | 71.30 |
Prime Lending | 12 | 11,431,240.30 | 4.88 | 952,603.36 | 4.025 | 761 | 73.91 | 73.91 |
PHH | 2 | 2,238,701.52 | 0.96 | 1,119,350.76 | 4.248 | 786 | 76.44 | 76.44 |
Other | 148 | 114,757,772.93 | 48.98 | 775,390.36 | 4.028 | 774 | 67.41 | 68.11 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Channel of the Mortgage Loans | ||||||||
Channel | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Retail | 242 | 194,177,710.15 | 82.88 | 802,387.23 | 4.003 | 771 | 68.03 | 68.76 |
Broker | 30 | 23,481,996.47 | 10.02 | 782,733.22 | 4.121 | 770 | 64.01 | 65.77 |
Correspondent | 20 | 16,633,652.08 | 7.10 | 831,682.60 | 4.171 | 775 | 65.42 | 66.18 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Servicers of the Mortgage Loans | ||||||||
Servicer | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Cenlar, F.S.B. | 240 | 187,876,815.51 | 80.19 | 782,820.06 | 4.042 | 772 | 66.44 | 67.36 |
EverBank | 33 | 25,635,960.92 | 10.94 | 776,847.30 | 4.117 | 772 | 71.78 | 72.09 |
First Republic Bank | 17 | 18,541,880.75 | 7.91 | 1,090,698.87 | 3.720 | 762 | 70.55 | 71.30 |
PHH | 2 | 2,238,701.52 | 0.96 | 1,119,350.76 | 4.248 | 786 | 76.44 | 76.44 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
- 90 - |
Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Lien Position of the Mortgage Loans at Origination | ||||||||
Lien Position | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
First Lien | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Loans with Seconds at Origination | ||||||||
Loans with Seconds at Origination | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
None | 269 | 217,134,522.86 | 92.68 | 807,191.53 | 4.032 | 771 | 68.37 | 68.37 |
Has Second Lien at Origination | 23 | 17,158,835.84 | 7.32 | 746,036.34 | 3.964 | 771 | 55.62 | 67.03 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Mortgage Insurance Status of the Mortgage Loans at Origination | ||||||||
Mortgage Insurance Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
No Mortgage Insurance | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) |
Collateral characteristics are listed below as of the Cut-off Date |
Origination Date of the Mortgage Loans | ||||||||
Origination Date | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
October 2009 | 1 | 842,435.03 | 0.36 | 842,435.03 | 3.990 | 798 | 68.99 | 68.99 |
December 2009 | 1 | 761,320.03 | 0.32 | 761,320.03 | 3.990 | 786 | 60.95 | 60.95 |
December 2010 | 1 | 647,840.72 | 0.28 | 647,840.72 | 4.125 | 794 | 68.71 | 68.71 |
April 2011 | 1 | 480,968.73 | 0.21 | 480,968.73 | 3.990 | 802 | 67.11 | 67.11 |
May 2011 | 1 | 476,927.62 | 0.20 | 476,927.62 | 3.990 | 798 | 61.25 | 61.25 |
June 2011 | 1 | 755,354.45 | 0.32 | 755,354.45 | 3.990 | 811 | 59.21 | 59.21 |
August 2011 | 2 | 1,444,116.01 | 0.62 | 722,058.01 | 3.990 | 802 | 56.81 | 56.81 |
December 2011 | 1 | 1,070,963.66 | 0.46 | 1,070,963.66 | 4.115 | 667 | 61.97 | 61.97 |
January 2012 | 2 | 1,412,109.58 | 0.60 | 706,054.79 | 4.250 | 768 | 58.34 | 58.34 |
February 2012 | 2 | 1,782,786.43 | 0.76 | 891,393.22 | 3.990 | 759 | 53.06 | 57.67 |
March 2012 | 6 | 5,046,017.26 | 2.15 | 841,002.88 | 4.120 | 776 | 59.21 | 59.21 |
April 2012 | 1 | 736,433.12 | 0.31 | 736,433.12 | 3.990 | 756 | 67.90 | 67.90 |
May 2012 | 4 | 2,163,320.76 | 0.92 | 540,830.19 | 3.990 | 775 | 64.41 | 65.89 |
June 2012 | 5 | 3,539,761.29 | 1.51 | 707,952.26 | 4.130 | 754 | 48.14 | 58.54 |
July 2012 | 7 | 5,285,531.83 | 2.26 | 755,075.98 | 4.188 | 764 | 72.24 | 74.54 |
August 2012 | 41 | 33,589,640.49 | 14.34 | 819,259.52 | 4.130 | 772 | 69.01 | 69.93 |
September 2012 | 38 | 33,921,050.71 | 14.48 | 892,659.23 | 4.086 | 767 | 69.46 | 69.95 |
October 2012 | 147 | 114,873,821.52 | 49.03 | 781,454.57 | 4.004 | 773 | 67.56 | 68.20 |
November 2012 | 30 | 25,462,959.46 | 10.87 | 848,765.32 | 3.845 | 772 | 68.55 | 69.10 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) | ||||||||
Collateral characteristics are listed below as of the Cut-off Date | ||||||||
Maturity Date of the Mortgage Loans | ||||||||
Maturity Date | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
August 2032 | 1 | 773,778.39 | 0.33 | 773,778.39 | 3.500 | 738 | 75.00 | 75.00 |
November 2039 | 1 | 842,435.03 | 0.36 | 842,435.03 | 3.990 | 798 | 68.99 | 68.99 |
January 2040 | 1 | 761,320.03 | 0.32 | 761,320.03 | 3.990 | 786 | 60.95 | 60.95 |
January 2041 | 1 | 647,840.72 | 0.28 | 647,840.72 | 4.125 | 794 | 68.71 | 68.71 |
May 2041 | 1 | 480,968.73 | 0.21 | 480,968.73 | 3.990 | 802 | 67.11 | 67.11 |
June 2041 | 1 | 476,927.62 | 0.20 | 476,927.62 | 3.990 | 798 | 61.25 | 61.25 |
July 2041 | 1 | 755,354.45 | 0.32 | 755,354.45 | 3.990 | 811 | 59.21 | 59.21 |
September 2041 | 2 | 1,444,116.01 | 0.62 | 722,058.01 | 3.990 | 802 | 56.81 | 56.81 |
January 2042 | 1 | 1,070,963.66 | 0.46 | 1,070,963.66 | 4.115 | 667 | 61.97 | 61.97 |
February 2042 | 2 | 1,412,109.58 | 0.60 | 706,054.79 | 4.250 | 768 | 58.34 | 58.34 |
March 2042 | 2 | 1,782,786.43 | 0.76 | 891,393.22 | 3.990 | 759 | 53.06 | 57.67 |
April 2042 | 5 | 4,348,071.70 | 1.86 | 869,614.34 | 4.119 | 775 | 58.41 | 58.41 |
May 2042 | 2 | 1,434,378.68 | 0.61 | 717,189.34 | 4.056 | 769 | 66.09 | 66.09 |
June 2042 | 4 | 2,163,320.76 | 0.92 | 540,830.19 | 3.990 | 775 | 64.41 | 65.89 |
July 2042 | 5 | 3,539,761.29 | 1.51 | 707,952.26 | 4.130 | 754 | 48.14 | 58.54 |
August 2042 | 7 | 5,222,786.09 | 2.23 | 746,112.30 | 4.298 | 768 | 72.89 | 75.22 |
September 2042 | 38 | 31,221,263.20 | 13.33 | 821,612.19 | 4.132 | 771 | 68.82 | 69.77 |
October 2042 | 35 | 31,149,246.91 | 13.29 | 889,978.48 | 4.097 | 768 | 69.03 | 69.34 |
November 2042 | 148 | 115,335,629.73 | 49.23 | 779,294.80 | 4.013 | 773 | 68.14 | 68.85 |
December 2042 | 32 | 26,620,299.69 | 11.36 | 831,884.37 | 3.865 | 769 | 67.17 | 67.70 |
January 2043 | 2 | 2,810,000.00 | 1.20 | 1,405,000.00 | 3.474 | 790 | 63.03 | 63.03 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Delinquency Status of the Mortgage Loans | ||||||||
Delinquency Status | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Current | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
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Sequoia Mortgage Trust 2013-1 Mortgage Pass-Through Certificates, Series 2013-1 PRELIMINARY TERM SHEET |
(Pool 2) |
Collateral characteristics are listed below as of the Cut-off Date |
Historical Delinquency of the Mortgage Loans | ||||||||
Historical Delinquency (Past 12 Months) | Number of Mortgage Loans | Aggregate Principal Balance ($) | Aggregate Principal Balance (%) | Average Principal Balance ($) | Weighted Average Mortgage Rate (%) | Weighted Average Original Credit Score | Weighted Average Original Loan-to- Value Ratio (%) | Weighted Average Original Combined Loan-to- Value Ratio (%) |
Never Delinquent | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
Total: | 292 | 234,293,358.70 | 100.00 | 802,374.52 | 4.027 | 771 | 67.44 | 68.28 |
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