EX-99.1 2 efc5-1932_emailex991.txt Exhibit 99.1 Computational Materials and/or ABS Term Sheets ABS New Transaction Computational Materials ----------------------- $1,944,304,000 (Approximate) CWABS, Inc. Depositor ASSET-BACKED CERTIFICATES, SERIES 2005-11 [LOGO OMITTED] Countrywide(SM) HOME LOANS Seller and Master Servicer

The attached tables and other sample pool analyses, together with all other information presented herein (the "Computational Materials") are privileged and confidential and are intended for use by the addressee only. These Computational Materials are furnished to you solely by Countrywide Securities Corporation ("Countrywide Securities") and not by the issuer of the securities or any of its affiliates (other than Countrywide Securities). The issuer of these securities has not prepared or taken part in the preparation of these materials. The information herein regarding the mortgage loans is preliminary, and will be superseded by the applicable prospectus supplement and by any other information subsequently filed with the Securities and Exchange Commission. The information herein may not be provided by the addressees to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said material. Numerous assumptions were used in preparing the Computational Materials which may or may not be stated therein. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Computational Materials in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Without limiting the foregoing, the collateral information set forth in these Computational Materials, including without limitation the collateral tables which follow, is based only on a sample pool of Mortgage Loans expected to be included in the Trust along with other Mortgage Loans on the Closing Date. In addition, certain Mortgage Loans contained in this sample pool may be deleted from the pool of Mortgage Loans delivered to the Trust on the Closing Date. This sample pool may not necessarily represent a statistically relevant population, notwithstanding any contrary references herein. Although Countrywide Securities believes the information with respect to the sample pool will be representative of the final pool of Mortgage Loans, the collateral characteristics of the final pool may nonetheless vary from the collateral characteristics of the sample pool. Any yields or weighted average lives shown in the Computational Materials are based on prepayment assumptions and actual prepayment experience may dramatically affect such yields or weighted average lives. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates assumed in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfall. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the actual underlying assets and the hypothetical assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. Although a registration statement (including the prospectus) relating to the securities discussed in this communication has been filed with the Securities and Exchange Commission and is effective, the final prospectus supplement relating to the securities discussed in this communication has not been filed with the Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the securities discussed in this communication in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Prospective purchasers are referred to the final prospectus and prospectus supplement relating to the securities discussed in this communication for definitive information on any matter discussed in this communication. A final prospectus and prospectus supplement may be obtained by contacting your Countrywide Securities account representative. Please be advised that asset-backed securities may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayments, yield curve and interest rate risk. Investors should fully consider the risk of an investment in these securities. If you have received this communication in error, please notify the sending party immediately by telephone and return the original to such party by mail. ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 2

Preliminary Term Sheet Date: September 8, 2005 $1,944,304,000 (Approximate) CWABS Asset-Backed Certificates, Series 2005-11

(1) The margins on the Class 2-AV-1, Class 3-AV-1, Class 3-AV-2 and Class 3-AV-3 Certificates double and the margins on the Floating Rate Subordinate Certificates are equal to 1.5x the related original margin after the Clean-up Call date. The fixed rate coupons on the Class AF-5 Certificates increase by 0.50% after the Clean-up Call date. (2) The principal balance of each Class of Certificates is subject to a 10% variance. (3) See "Pricing Prepayment Speed" below. (4) Rating Agency Contacts: [James Taylor, Standard & Poors, 212.438.6067; Earl Bandy, Moody's Investors Service, 212.553.7985]. (5) The Class AF-1, Class AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates (collectively, the "Class AF Certificates") and the Class MF-1, Class MF-2, Class MF-3, Class MF-4, Class MF-5, Class MF-6, Class MF-7, Class MF-8 and Class BF Certificates (collectively the "Fixed Rate Subordinate Certificates") are backed primarily by the cashflows from the Group 1 Mortgage Loans. Under certain conditions referred to under "Fixed Rate Certificates Priority of Distributions," cashflows from one loan group may be used to make certain payments to the Certificate(s) related to the other loan group(s). (6) The Class 2-AV-1 Certificates are backed primarily by the cashflows from the Group 2 Mortgage Loans. Under certain conditions referred to under "Floating Rate Certificates Priority of Distributions," cashflows from one loan group may be used to make certain payments to the Certificate(s) related to the other loan group(s). (7) The Class 3-AV-1, Class 3-AV-2 and Class 3-AV-3 Certificates (collectively the "Class 3-AV Certificates") are backed primarily by the cashflows from the Group 3 Mortgage Loans. Under certain conditions referred to under "Floating Rate Certificates Priority of Distributions," cashflows from one loan group may be used to make certain payments to the Certificate(s) related to the other loan group(s). (8) The Class MV-1, Class MV-2, Class MV-3, Class MV-4, Class MV-5, Class MV-6, Class MV-7, Class MV-8, Class MV-9 and Class BV Certificates (collectively, the "Floating Rate Subordinate Certificates" and, together with the Fixed Rate Subordinate Certificates, the "Subordinate Certificates") are backed by the cashflows from the Group 2 and Group 3 Mortgage Loans. ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 3

------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 4

Discount Margin/Yield Tables (%) (1) Class AF-1 (To Call) -------------------------------------------------------------------------------- Margin 0.16% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 16 16 16 16 16 ================================================================================ WAL (yr) 1.69 1.24 1.00 0.85 0.75 MDUR (yr) 1.62 1.20 0.97 0.83 0.73 First Prin Pay Oct05 Oct05 Oct05 Oct05 Oct05 Last Prin Pay Feb09 Feb08 Jul07 Mar07 Jan07 -------------------------------------------------------------------------------- Class AF-1 (To Maturity) -------------------------------------------------------------------------------- Margin 0.16% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 16 16 16 16 16 ================================================================================ WAL (yr) 1.69 1.24 1.00 0.85 0.75 MDUR (yr) 1.62 1.20 0.97 0.83 0.73 First Prin Pay Oct05 Oct05 Oct05 Oct05 Oct05 Last Prin Pay Feb09 Feb08 Jul07 Mar07 Jan07 -------------------------------------------------------------------------------- Class AF-2 (To Call) -------------------------------------------------------------------------------- Coupon 4.610% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 4.563 4.526 4.491 4.456 4.423 ================================================================================ WAL (yr) 3.74 2.58 2.00 1.64 1.40 MDUR (yr) 3.37 2.38 1.87 1.55 1.33 First Prin Pay Feb09 Feb08 Jul07 Mar07 Jan07 Last Prin Pay Oct09 Jun08 Nov07 Jun07 Mar07 -------------------------------------------------------------------------------- Class AF-2 (To Maturity) -------------------------------------------------------------------------------- Coupon 4.610% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 4.563 4.526 4.491 4.456 4.423 ================================================================================ WAL (yr) 3.74 2.58 2.00 1.64 1.40 MDUR (yr) 3.37 2.38 1.87 1.55 1.33 First Prin Pay Feb09 Feb08 Jul07 Mar07 Jan07 Last Prin Pay Oct09 Jun08 Nov07 Jun07 Mar07 -------------------------------------------------------------------------------- (1) See definition of Pricing Prepayment Speed above. ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 15

Class AF-3 (To Call) -------------------------------------------------------------------------------- Coupon 4.742% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 4.731 4.701 4.673 4.643 4.616 ================================================================================ WAL (yr) 6.49 4.07 3.00 2.33 1.96 MDUR (yr) 5.40 3.60 2.73 2.16 1.83 First Prin Pay Oct09 Jun08 Nov07 Jun07 Mar07 Last Prin Pay Oct16 Dec11 Feb10 Sep08 Mar08 -------------------------------------------------------------------------------- Class AF-3 (To Maturity) -------------------------------------------------------------------------------- Coupon 4.742% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 4.731 4.701 4.673 4.643 4.616 ================================================================================ WAL (yr) 6.49 4.07 3.00 2.33 1.96 MDUR (yr) 5.40 3.60 2.73 2.16 1.83 First Prin Pay Oct09 Jun08 Nov07 Jun07 Mar07 Last Prin Pay Oct16 Dec11 Feb10 Sep08 Mar08 -------------------------------------------------------------------------------- Class AF-4 (To Call) -------------------------------------------------------------------------------- Coupon 5.181% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.199 5.182 5.157 5.132 5.094 ================================================================================ WAL (yr) 12.67 7.85 5.00 3.70 2.64 MDUR (yr) 9.07 6.28 4.30 3.28 2.41 First Prin Pay Oct16 Dec11 Feb10 Sep08 Mar08 Last Prin Pay Feb20 Jul15 Jun11 Dec09 Jul08 -------------------------------------------------------------------------------- Class AF-4 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.181% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.199 5.182 5.157 5.132 5.094 ================================================================================ WAL (yr) 12.67 7.85 5.00 3.70 2.64 MDUR (yr) 9.07 6.28 4.30 3.28 2.41 First Prin Pay Oct16 Dec11 Feb10 Sep08 Mar08 Last Prin Pay Feb20 Jul15 Jun11 Dec09 Jul08 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 16

Class AF-5 (To Call) -------------------------------------------------------------------------------- Coupon 5.471% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.497 5.486 5.471 5.453 5.427 ================================================================================ WAL (yr) 14.81 10.15 7.21 5.35 3.89 MDUR (yr) 9.91 7.60 5.81 4.52 3.40 First Prin Pay Feb20 Jul15 Jun11 Dec09 Jul08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class AF-5 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.471% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.576 5.602 5.604 5.568 5.472 ================================================================================ WAL (yr) 19.57 14.46 10.43 7.18 4.30 MDUR (yr) 11.62 9.61 7.57 5.62 3.68 First Prin Pay Feb20 Jul15 Jun11 Dec09 Jul08 Last Prin Pay Nov33 Oct29 Feb25 May21 Aug18 -------------------------------------------------------------------------------- Class AF-6 (To Call) -------------------------------------------------------------------------------- Coupon 5.025% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.024 5.019 5.014 5.006 4.996 ================================================================================ WAL (yr) 7.81 6.98 6.32 5.46 4.66 MDUR (yr) 6.21 5.69 5.26 4.66 4.06 First Prin Pay Oct08 Oct08 Oct08 Feb09 Jul09 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class AF-6 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.025% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.024 5.020 5.017 5.016 5.017 ================================================================================ WAL (yr) 7.85 7.11 6.72 6.60 6.70 MDUR (yr) 6.23 5.76 5.51 5.43 5.50 First Prin Pay Oct08 Oct08 Oct08 Feb09 Jul09 Last Prin Pay Aug33 Aug29 Dec24 Mar21 Jun18 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 17

Class MF-1 (To Call) -------------------------------------------------------------------------------- Coupon 5.272% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.286 5.271 5.256 5.242 5.233 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.61 4.12 MDUR (yr) 7.90 5.97 4.73 3.98 3.61 First Prin Pay May11 Aug09 Oct08 Jan09 Apr09 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-1 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.272% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.288 5.277 5.264 5.252 5.245 ================================================================================ WAL (yr) 12.10 8.68 6.62 5.42 4.82 MDUR (yr) 8.39 6.54 5.28 4.50 4.10 First Prin Pay May11 Aug09 Oct08 Jan09 Apr09 Last Prin Pay May31 Jan26 Aug21 Jun18 Mar16 -------------------------------------------------------------------------------- Class MF-2 (To Call) -------------------------------------------------------------------------------- Coupon 5.322% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.336 5.322 5.306 5.292 5.281 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.59 4.04 MDUR (yr) 7.88 5.96 4.72 3.95 3.54 First Prin Pay May11 Aug09 Oct08 Dec08 Feb09 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-2 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.322% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.339 5.327 5.314 5.302 5.293 ================================================================================ WAL (yr) 12.08 8.65 6.60 5.38 4.72 MDUR (yr) 8.35 6.52 5.26 4.46 4.02 First Prin Pay May11 Aug09 Oct08 Dec08 Feb09 Last Prin Pay Oct30 Apr25 Dec20 Dec17 Oct15 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 18

Class MF-3 (To Call) -------------------------------------------------------------------------------- Coupon 5.371% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.386 5.371 5.356 5.341 5.329 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.58 3.99 MDUR (yr) 7.86 5.95 4.71 3.94 3.50 First Prin Pay May11 Aug09 Oct08 Dec08 Jan09 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-3 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.371% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.388 5.376 5.363 5.351 5.341 ================================================================================ WAL (yr) 12.05 8.62 6.57 5.35 4.66 MDUR (yr) 8.32 6.49 5.24 4.44 3.96 First Prin Pay May11 Aug09 Oct08 Dec08 Jan09 Last Prin Pay Jan30 Jun24 Apr20 May17 Apr15 -------------------------------------------------------------------------------- Class MF-4 (To Call) -------------------------------------------------------------------------------- Coupon 5.471% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.487 5.472 5.456 5.441 5.429 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.57 3.95 MDUR (yr) 7.82 5.92 4.70 3.92 3.46 First Prin Pay May11 Aug09 Oct08 Nov08 Jan09 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-4 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.471% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.490 5.477 5.464 5.451 5.441 ================================================================================ WAL (yr) 12.02 8.59 6.54 5.31 4.60 MDUR (yr) 8.26 6.45 5.21 4.40 3.91 First Prin Pay May11 Aug09 Oct08 Nov08 Jan09 Last Prin Pay Jun29 Nov23 Sep19 Dec16 Dec14 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 19

Class MF-5 (To Call) -------------------------------------------------------------------------------- Coupon 5.570% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.587 5.572 5.556 5.540 5.527 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.56 3.93 MDUR (yr) 7.78 5.90 4.68 3.90 3.44 First Prin Pay May11 Aug09 Oct08 Nov08 Dec08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-5 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.570% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.590 5.577 5.563 5.550 5.539 ================================================================================ WAL (yr) 11.98 8.54 6.51 5.28 4.56 MDUR (yr) 8.20 6.40 5.17 4.37 3.87 First Prin Pay May11 Aug09 Oct08 Nov08 Dec08 Last Prin Pay Oct28 Feb23 Feb19 Jun16 Jul14 -------------------------------------------------------------------------------- Class MF-6 (To Call) -------------------------------------------------------------------------------- Coupon 5.719% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.738 5.723 5.706 5.690 5.676 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.56 3.92 MDUR (yr) 7.71 5.86 4.66 3.89 3.41 First Prin Pay May11 Aug09 Oct08 Nov08 Dec08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-6 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.719% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.741 5.727 5.713 5.700 5.688 ================================================================================ WAL (yr) 11.92 8.49 6.47 5.25 4.52 MDUR (yr) 8.11 6.34 5.12 4.33 3.83 First Prin Pay May11 Aug09 Oct08 Nov08 Dec08 Last Prin Pay Jan28 Jun22 Jul18 Dec15 Feb14 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 20

Class MF-7 (To Call) -------------------------------------------------------------------------------- Coupon 5.868% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.889 5.873 5.856 5.839 5.825 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.56 3.90 MDUR (yr) 7.65 5.83 4.64 3.87 3.38 First Prin Pay May11 Aug09 Oct08 Oct08 Nov08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-7 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.868% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 100-00 5.891 5.878 5.863 5.849 5.837 ================================================================================ WAL (yr) 11.85 8.42 6.41 5.20 4.46 MDUR (yr) 8.01 6.26 5.07 4.27 3.77 First Prin Pay May11 Aug09 Oct08 Oct08 Nov08 Last Prin Pay Mar27 Aug21 Dec17 Jun15 Sep13 -------------------------------------------------------------------------------- Class MF-8 (To Call) -------------------------------------------------------------------------------- Coupon 5.950% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 99.45500 6.044 6.050 6.056 6.063 6.068 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.55 3.89 MDUR (yr) 7.60 5.80 4.62 3.84 3.36 First Prin Pay May11 Aug09 Oct08 Oct08 Nov08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MF-8 (To Maturity) -------------------------------------------------------------------------------- Coupon 5.950% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 99.45500 6.043 6.048 6.054 6.059 6.064 ================================================================================ WAL (yr) 11.74 8.33 6.34 5.13 4.40 MDUR (yr) 7.93 6.19 5.00 4.21 3.72 First Prin Pay May11 Aug09 Oct08 Oct08 Nov08 Last Prin Pay Mar26 Oct20 Apr17 Dec14 Apr13 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 21

Class BF (To Call) -------------------------------------------------------------------------------- Coupon 5.950% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 96.95900 6.378 6.488 6.606 6.723 6.823 ================================================================================ WAL (yr) 10.82 7.51 5.66 4.55 3.88 MDUR (yr) 7.53 5.75 4.58 3.82 3.34 First Prin Pay May11 Aug09 Oct08 Oct08 Oct08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class BF (To Maturity) -------------------------------------------------------------------------------- Coupon 5.950% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ Yield @ 96.95900 6.366 6.463 6.568 6.671 6.758 ================================================================================ WAL (yr) 11.56 8.18 6.22 5.03 4.32 MDUR (yr) 7.79 6.07 4.90 4.12 3.64 First Prin Pay May11 Aug09 Oct08 Oct08 Oct08 Last Prin Pay Jan25 Oct19 Jun16 Apr14 Sep12 -------------------------------------------------------------------------------- Class 2-AV-1 (To Call) -------------------------------------------------------------------------------- Margin 0.25% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 25 25 25 25 25 ================================================================================ WAL (yr) 4.33 2.98 2.18 1.51 1.29 MDUR (yr) 3.72 2.69 2.02 1.44 1.24 First Prin Pay Oct05 Oct05 Oct05 Oct05 Oct05 Last Prin Pay Jul20 Nov15 Apr13 Sep08 Jun08 -------------------------------------------------------------------------------- Class 2-AV-1 (To Maturity) -------------------------------------------------------------------------------- Margin 0.25% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 26 26 26 25 25 ================================================================================ WAL (yr) 4.54 3.13 2.28 1.51 1.29 MDUR (yr) 3.83 2.78 2.09 1.44 1.24 First Prin Pay Oct05 Oct05 Oct05 Oct05 Oct05 Last Prin Pay Nov31 Mar25 Feb20 Sep08 Jun08 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 22

Class 3-AV-1 (To Call) -------------------------------------------------------------------------------- Margin 0.13% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 13 13 13 13 13 ================================================================================ WAL (yr) 1.73 1.26 1.00 0.84 0.73 MDUR (yr) 1.65 1.22 0.97 0.82 0.71 First Prin Pay Oct05 Oct05 Oct05 Oct05 Oct05 Last Prin Pay Oct08 Feb08 Jul07 Mar07 Dec06 -------------------------------------------------------------------------------- Class 3-AV-1 (To Maturity) -------------------------------------------------------------------------------- Margin 0.13% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 13 13 13 13 13 ================================================================================ WAL (yr) 1.73 1.26 1.00 0.84 0.73 MDUR (yr) 1.65 1.22 0.97 0.82 0.71 First Prin Pay Oct05 Oct05 Oct05 Oct05 Oct05 Last Prin Pay Oct08 Feb08 Jul07 Mar07 Dec06 -------------------------------------------------------------------------------- Class 3-AV-2 (To Call) -------------------------------------------------------------------------------- Margin 0.27% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 27 27 27 27 27 ================================================================================ WAL (yr) 6.37 4.29 3.00 2.17 1.83 MDUR (yr) 5.46 3.87 2.79 2.07 1.75 First Prin Pay Oct08 Feb08 Jul07 Mar07 Dec06 Last Prin Pay Jan20 Mar15 Aug12 Jul08 Mar08 -------------------------------------------------------------------------------- Class 3-AV-2 (To Maturity) -------------------------------------------------------------------------------- Margin 0.27% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 27 27 27 27 27 ================================================================================ WAL (yr) 6.37 4.29 3.00 2.17 1.83 MDUR (yr) 5.46 3.87 2.79 2.07 1.75 First Prin Pay Oct08 Feb08 Jul07 Mar07 Dec06 Last Prin Pay Jan20 Mar15 Aug12 Jul08 Mar08 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 23

Class 3-AV-3 (To Call) -------------------------------------------------------------------------------- Margin 0.38% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 38 38 38 38 38 ================================================================================ WAL (yr) 14.80 10.11 7.49 2.91 2.61 MDUR (yr) 11.02 8.22 6.41 2.73 2.46 First Prin Pay Jan20 Mar15 Aug12 Jul08 Mar08 Last Prin Pay Jul20 Nov15 Apr13 Sep08 Jun08 -------------------------------------------------------------------------------- Class 3-AV-3 (To Maturity) -------------------------------------------------------------------------------- Margin 0.38% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 43 44 44 38 38 ================================================================================ WAL (yr) 18.75 12.85 9.36 2.91 2.61 MDUR (yr) 12.89 9.84 7.67 2.73 2.46 First Prin Pay Jan20 Mar15 Aug12 Jul08 Mar08 Last Prin Pay Nov31 Mar25 Feb20 Sep08 Jun08 -------------------------------------------------------------------------------- Class MV-1 (To Call) -------------------------------------------------------------------------------- Margin 0.46% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 46 46 46 46 46 ================================================================================ WAL (yr) 9.06 6.02 5.05 5.23 3.71 MDUR (yr) 7.31 5.19 4.50 4.65 3.40 First Prin Pay Nov09 Oct08 Aug09 Sep08 Jun08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-1 (To Maturity) -------------------------------------------------------------------------------- Margin 0.46% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 47 47 47 50 50 ================================================================================ WAL (yr) 9.69 6.45 5.34 6.45 4.55 MDUR (yr) 7.61 5.45 4.69 5.53 4.05 First Prin Pay Nov09 Oct08 Aug09 Sep08 Jun08 Last Prin Pay Dec29 Feb23 Jun18 Oct16 May14 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 24

Class MV-2 (To Call) -------------------------------------------------------------------------------- Margin 0.48% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 48 48 48 48 48 ================================================================================ WAL (yr) 9.06 6.01 4.79 4.99 4.23 MDUR (yr) 7.30 5.18 4.27 4.47 3.85 First Prin Pay Nov09 Oct08 Mar09 Dec09 Apr09 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-2 (To Maturity) -------------------------------------------------------------------------------- Margin 0.48% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 49 49 49 49 49 ================================================================================ WAL (yr) 9.67 6.43 5.06 5.19 4.39 MDUR (yr) 7.60 5.43 4.46 4.62 3.97 First Prin Pay Nov09 Oct08 Mar09 Dec09 Apr09 Last Prin Pay Mar29 May22 Dec17 Jan15 Dec12 -------------------------------------------------------------------------------- Class MV-3 (To Call) -------------------------------------------------------------------------------- Margin 0.50% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 50 50 50 50 50 ================================================================================ WAL (yr) 9.06 6.01 4.68 4.42 3.61 MDUR (yr) 7.30 5.18 4.18 4.00 3.33 First Prin Pay Nov09 Oct08 Feb09 Aug09 Dec08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-3 (To Maturity) -------------------------------------------------------------------------------- Margin 0.50% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 51 51 51 51 51 ================================================================================ WAL (yr) 9.65 6.41 4.94 4.60 3.74 MDUR (yr) 7.58 5.42 4.36 4.14 3.43 First Prin Pay Nov09 Oct08 Feb09 Aug09 Dec08 Last Prin Pay Apr28 Jun21 Apr17 Jul14 Jul12 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 25

Class MV-4 (To Call) -------------------------------------------------------------------------------- Margin 0.60% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 60 60 60 60 60 ================================================================================ WAL (yr) 9.06 6.01 4.64 4.22 3.46 MDUR (yr) 7.26 5.16 4.13 3.82 3.19 First Prin Pay Nov09 Oct08 Dec08 May09 Oct08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-4 (To Maturity) -------------------------------------------------------------------------------- Margin 0.60% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 61 61 61 61 61 ================================================================================ WAL (yr) 9.63 6.39 4.89 4.39 3.58 MDUR (yr) 7.53 5.39 4.30 3.95 3.28 First Prin Pay Nov09 Oct08 Dec08 May09 Oct08 Last Prin Pay Sep27 Jan21 Nov16 Mar14 May12 -------------------------------------------------------------------------------- Class MV-5 (To Call) -------------------------------------------------------------------------------- Margin 0.64% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 64 64 64 64 64 ================================================================================ WAL (yr) 9.06 6.01 4.61 4.09 3.39 MDUR (yr) 7.24 5.15 4.10 3.70 3.12 First Prin Pay Nov09 Oct08 Dec08 Mar09 Oct08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-5 (To Maturity) -------------------------------------------------------------------------------- Margin 0.64% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 65 65 65 65 65 ================================================================================ WAL (yr) 9.60 6.37 4.84 4.24 3.49 MDUR (yr) 7.50 5.37 4.26 3.82 3.21 First Prin Pay Nov09 Oct08 Dec08 Mar09 Oct08 Last Prin Pay Jan27 Jun20 Jun16 Nov13 Feb12 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 26

Class MV-6 (To Call) -------------------------------------------------------------------------------- Margin 0.69% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 69 69 69 69 69 ================================================================================ WAL (yr) 9.06 6.01 4.60 4.00 3.33 MDUR (yr) 7.23 5.14 4.09 3.63 3.08 First Prin Pay Nov09 Oct08 Nov08 Feb09 Sep08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-6 (To Maturity) -------------------------------------------------------------------------------- Margin 0.69% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 70 70 70 70 70 ================================================================================ WAL (yr) 9.57 6.34 4.81 4.14 3.43 MDUR (yr) 7.47 5.34 4.23 3.73 3.15 First Prin Pay Nov09 Oct08 Nov08 Feb09 Sep08 Last Prin Pay May26 Nov19 Jan16 Jul13 Oct11 -------------------------------------------------------------------------------- Class MV-7 (To Call) -------------------------------------------------------------------------------- Margin 1.15% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 115 115 115 115 115 ================================================================================ WAL (yr) 9.06 6.01 4.58 3.92 3.32 MDUR (yr) 7.06 5.06 4.02 3.52 3.03 First Prin Pay Nov09 Oct08 Nov08 Dec08 Aug08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-7 (To Maturity) -------------------------------------------------------------------------------- Margin 1.15% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 117 117 117 116 116 ================================================================================ WAL (yr) 9.53 6.31 4.76 4.05 3.39 MDUR (yr) 7.27 5.23 4.14 3.61 3.09 First Prin Pay Nov09 Oct08 Nov08 Dec08 Aug08 Last Prin Pay Oct25 Jun19 Sep15 Apr13 Aug11 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 27

Class MV-8 (To Call) -------------------------------------------------------------------------------- Margin 1.30% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 130 130 130 130 130 ================================================================================ WAL (yr) 9.06 6.01 4.58 3.88 3.28 MDUR (yr) 7.00 5.03 4.00 3.48 2.99 First Prin Pay Nov09 Oct08 Nov08 Dec08 Aug08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 Class MV-8 (To Maturity) -------------------------------------------------------------------------------- Margin 1.30% Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 132 132 132 131 131 ================================================================================ WAL (yr) 9.46 6.26 4.73 3.98 3.34 MDUR (yr) 7.18 5.17 4.10 3.54 3.03 First Prin Pay Nov09 Oct08 Nov08 Dec08 Aug08 Last Prin Pay Sep24 Aug18 Jan15 Oct12 Mar11 -------------------------------------------------------------------------------- Class MV-9 (To Call) -------------------------------------------------------------------------------- Margin 1.75% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 175 175 175 175 175 ================================================================================ WAL (yr) 9.06 6.01 4.56 3.84 3.28 MDUR (yr) 6.84 4.95 3.93 3.40 2.96 First Prin Pay Nov09 Oct08 Oct08 Nov08 Aug08 Last Prin Pay Jul20 Nov15 Apr13 Aug11 Jun10 -------------------------------------------------------------------------------- Class MV-9 (To Maturity) -------------------------------------------------------------------------------- Margin 1.75% -------------------------------------------------------------------------------- Percent of Pricing 50% 75% 100% 125% 150% Prepayment Speed ================================================================================ DM @ 100-00 177 177 176 176 176 ================================================================================ WAL (yr) 9.38 6.20 4.66 3.90 3.31 MDUR (yr) 6.98 5.05 4.00 3.45 2.98 First Prin Pay Nov09 Oct08 Oct08 Nov08 Aug08 Last Prin Pay Oct23 Dec17 Jul14 Jun12 Dec10 -------------------------------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 28

-------------------------------------------------------- Class AF-1 Corridor Contract Agreement Schedule and Strike Rates -------------------------------------------------------- Notional Schedule Cap Strike Cap Ceiling Period ($) (%) (%) -------------------------------------------------------- 1 283,724,000 6.98364% 9.00000% 2 278,400,261 6.08225% 9.00000% 3 272,170,432 6.28449% 9.00000% 4 264,368,259 6.08150% 9.00000% 5 255,017,972 6.08126% 9.00000% 6 244,142,008 6.73259% 9.00000% 7 231,765,115 6.08086% 9.00000% 8 217,914,374 6.28339% 9.00000% 9 202,626,852 6.08056% 9.00000% 10 185,986,806 6.28315% 9.00000% 11 169,541,758 6.08018% 9.00000% 12 153,427,034 6.04874% 9.00000% 13 137,647,365 6.24922% 9.00000% 14 122,184,659 6.04759% 9.00000% 15 107,031,886 6.24893% 9.00000% 16 92,182,533 6.04731% 9.00000% 17 77,630,109 6.04726% 9.00000% 18 63,368,312 6.69514% 9.00000% 19 49,390,973 6.04718% 9.00000% 20 35,776,302 6.24871% 9.00000% 21 22,999,877 6.04709% 9.00000% 22 10,493,517 6.24862% 9.00000% -------------------------------------------------------- ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 29

Class AF-1 Available Funds Rate Schedule (1) -------------------------------------------- -------------------------------------------------------- Available Funds Rate Available Funds Period (%) Rate (%) -------------------------------------------------------- (2) (3) 1 6.984 6.984 2 6.082 9.000 3 6.284 9.000 4 6.082 9.000 5 6.081 9.000 6 6.733 9.000 7 6.081 9.000 8 6.283 9.000 9 6.081 9.000 10 6.283 9.000 11 6.080 9.000 12 6.049 9.000 13 6.249 9.000 14 6.048 9.000 15 6.249 9.000 16 6.047 9.000 17 6.047 9.000 18 6.695 9.000 19 6.047 9.000 20 6.249 9.000 21 6.047 9.000 22 6.249 9.000 (1) Subject to those limitations set forth under "Pass-Through Rate" of the attached Computational Materials. (2) Assumes that 1-Month LIBOR stays at 3.704%, 6-Month LIBOR stays at 3.922%, the collateral is run at the Pricing Prepayment Speed (100%) to call and includes all projected cash proceeds (if any) from the related Corridor Contract. (3) Assumes that 1-Month and 6-Month LIBOR instantaneously increase by 2000 basis points, the collateral is run at the Pricing Prepayment Speed (100%) and includes all projected cash proceeds (if any) from the related Corridor Contract. ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 33

(1) Subject to those limitations set forth under "Pass-Through Rate" of the attached Computational Materials. (2) Assumes that 1-Month LIBOR stays at 3.704%, 6-Month LIBOR stays at 3.922%, the collateral is run at the Pricing Prepayment Speed (100%) to call and includes all projected cash proceeds (if any) from the related Corridor Contract. (3) Assumes that 1-Month and 6-Month LIBOR instantaneously increase by 2000 basis points, the collateral is run at the Pricing Prepayment Speed (100%) and includes all projected cash proceeds (if any) from the related Corridor Contract. ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement on page 2. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral and other information set forth in the Computational Materials supersedes any previously distributed information relating to the securities discussed in this communication and will be superseded by the information set forth in the final prospectus supplement. 34

Floating Rate Subordinate Available Funds Rate Schedule (1) -----------------------------------------------------------

------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral information set forth in the Computational Materials supersedes any previously distributed collateral information relating to the securities discussed in this communication and will be superseded by the information set forth in the final offering materials. 1-1

Group 2 ARM $453,875,908 Detailed Report

Group 2 ARM $453,875,908 Detailed Report

Group 2 ARM $453,875,908 Detailed Report

Group 2 ARM $453,875,908 Detailed Report

Group 2 ARM $453,875,908 Detailed Report

Group 2 ARM $453,875,908 Detailed Report

Recipients must read the information contained in the attached statement. Do not use or rely on this information if you have not received or reviewed the statement. If you have not received the statement, call your Countrywide Securities account representative for another copy. The collateral information set forth in the Computational Materials supersedes any previously distributed collateral information relating to the securities discussed in this communication and will be superseded by the information set forth in the final offering materials. A-10

CWABS INC 8-K