EXHIBIT 99.1
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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[USB Investment Bank logo]
PRELIMINARY BACKGROUND INFORMATION
MASTR Alternative Loan Trust Series 2004-9
DISCLAIMER
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The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein is preliminary, and will be superseded by the applicable prospectus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 The information contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR UBS INVESTMENT
BANK FINANCIAL ADVISOR IMMEDIATELY.
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1
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MASTR Alternative Loan Trust
SERIES 2004-9
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--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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$350,000,000 (Approximate)
MASTR Alternative Loan Trust, Series 2004-9
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Principal WAL (Years) Payment Window Expected Ratings Last Scheduled Certificate
Class (1) Amount (2) Call/Mat (3)(4) (Mos) Call /Mat (4) (S&P/Xxxxx'x) (5) Distribution Date Type
--------- ---------- --------------- ------------------- ----------------- ----------------- ----
A-1 138,350,000.00 0.90 1 - 22 AAA/Aaa August 2034 Floating Rate Senior
A-2 23,215,000.00 2.00 22 - 27 AA/Aaa August 2034 Fixed Rate Seq, Senior
A-3 70,913,000.00 3.00 27 - 50 AAA/Aaa August 2034 Fixed Rate Seq, Senior
A-4 34,087,000.00 5.00 50 - 75 AAA/Aaa August 2034 Fixed Rate Seq, Senior
A-5 30,637,000.00 7.55/10.09 75 - 94 / 75 - 206 AAA/Aaa August 2034 Fixed Rate Seq, Senior
A-6 33,023,000.00 6.26/6.51 38 - 94 / 38 - 206 AAA/Aaa August 2034 Fixed Rate Lockout
M-1 9,100,000.00 5.19/5.50 37 - 94 / 37 - 130 AA/Aa2 August 2034 Fixed Rate Mezzanine
M-2 6,650,000.00 5.14/5.21 37 - 94 / 37 - 109 A/A2 August 2034 Fixed Rate Mezzanine
M-3 4,025,000.00 4.38/4.38 37 - 81 / 37-81 BBB/Baa2 August 2034 Fixed Rate Mezzanine
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C Not Offered
R Not Offered
LR Not Offered
----------------
Total: $350,000,000
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(1) The Pass-Through Rate on the Floating Rate Certificates will be subject to
a cap equal to the lesser of (i) 11.25% per annum and (ii) the Net WAC
Rate (as described below).
(2) The principal balance of each Class of Certificates is subject to a 5%
variance.
(3) The fixed rate coupons on the Class A-2, Class A-3, Class A-4, Class A-5,
Class A-6, Class M-1, Class M-2 and Class M-3 Certificates increase by
0.50% after the Clean-up Call date
(4) See "Pricing Prepayment Speed" below.
(5) Ratings are expected from two of the following three rating agencies:
Fitch, Xxxxx'x and S&P.
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The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
2
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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DESCRIPTION OF SECURITIES
Issuer: MASTR Alternative Loan Trust Series 2004-9
Depositor: Mortgage Asset Securitization Transactions, Inc.
Master Servicer: Xxxxx Fargo Bank, N.A.
Underwriter: UBS Securities LLC (Lead Manager) and WAMU Capital Corp
(Co-Manager).
Trustee: TBD
Transferor: UBS Real Estate Securities, Inc.
Payment Date: The 25th day of each month (or the next succeeding
business day) commencing in September 2004.
Expected Pricing Date: August [16], 2004.
Estimated Closing
Date: August 27, 2004
Investor Settlement
Date: August 30, 2004
Offered Certificates: The (i) Class A-1, Class A-2, Class A-3, Class A-4,
Class A-5 and Class A-6 (collectively, the "Senior
Certificates") and (ii) the Class M-1, Class M-2 and
Class M-3 Certificates (collectively, the "Mezzanine
Certificates") are collectively referred to herein as
the "Offered Certificates."
Non-Offered
Certificates: The "Non-Offered Certificates" consist of the Class C,
Class P and Class R Certificates. The Offered
Certificates and Non-Offered Certificates are
collectively referred to herein as the "Certificates."
Floating Rate
Certificates: The "Floating Rate Certificates" consist of the Class
A-1 Certificates.
Fixed Rate
Certificates: The "Fixed Rate Certificates" consist of the Senior
Certificates (other than the Class A-1 Certificates) and
the Class M-1, Class M-2 and Class M-3 Certificates.
Accrued Interest: The price to be paid by investors for the Floating Rate
Certificates will not include accrued interest (i.e.,
settling flat). The price to be paid by investors for
the Fixed Rate Certificates will include accrued
interest from August 1, 2004 up to, but not including,
the Settlement Date.
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The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
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3
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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Interest Accrual
Period: The "Interest Accrual Period" for each Distribution Date
with respect to the Floating Rate Certificates will be
the period beginning with the 25th day of the prior
month (or, in the case of the first Distribution Date,
the Settlement Date) and ending on the 24th day of the
current month (on an actual/360 day basis). The
"Interest Accrual Period" for each Distribution Date
with respect to the Fixed Rate Certificates will be the
calendar month preceding the month in which such
Distribution Date occurs (on a 30/360 day basis).
Certificate Interest
Rate: The Pass-Through Rate for each Class of Floating Rate
Certificates will be equal to the least of (a) one-month
LIBOR plus the margin for such Class, (b) the Net WAC
Rate and (c) a fixed rate of 11.25%.
The Pass-Through Rate on each Class of Fixed Rate
Certificates will be equal to the lesser of (a) the
fixed rate for such Class and (b) the Net WAC Rate.
Current Interest: For any class of the Certificates and any distribution
date, the amount of interest accruing at the applicable
Certificate Interest Rate on the related Class Principal
Balance during the related Interest Accrual Period.
Pricing Prepayment
Speed: The Offered Certificates will be priced based on 100%
PPC, which assumes 10% CPR in month 1, an additional
1/11th of 15% CPR for each month thereafter, building to
25% CPR in month 12 and remaining constant at 25% CPR
thereafter, adjusted for any seasoning.
Optional Termination: The terms of the transaction allow for a clean-up call
by the master servicer (the "Clean-up Call") which may
be exercised once the aggregate principal balance of the
Mortgage Loans is less than or equal to 10% of the
Cut-off Date Balance.
Mortgage Loans: As of the Closing Date, it is anticipated that the
aggregate principal balance of the Mortgage Loans will
be approximately $ [350,000,000].
Net Mortgage Rate: For each Loan, the applicable Mortgage Interest Rate
less (i) the Servicing Fee Rate, (ii) the Master
Servicing Fee Rate, if applicable and (iii) the Lender
Paid Mortgage Insurance Rate, if applicable.
Net WAC Rate: The Certificates will be subject to a Net WAC Cap equal
to the weighted average interest of the net mortgage
rates on the Mortgage Loans and in the case of the
Floating Rate Certificates multiplied by a fraction
equal to 30 divided by the number of days in the
Interest Accrual Period.
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
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4
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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Basis Risk Shortfall: The excess, if any, of the interest due to Certificates
calculated at the Net WAC Rate over the interest that
that class of Certificates would have been entitled to
receive on that Distribution Date had the Pass-Through
Rate not been subject to the related Net WAC Rate plus
any basis risk shortfall remaining unpaid from prior
distribution dates on such class plus interest on such
amount at the uncapped Pass-Through rate of such Class
(with respect to the class A-1 Certificate not to exceed
11.25% per annum).
Excess Interest: The interest collections from the Mortgage Loans less
the sum of (i) the interest paid on the Certificates;
and (ii) the aggregate of all fees and payments due in
respect of the Mortgage Loans.
Credit Enhancement: The Trust will include the following credit enhancement
mechanisms, each of which is intended to provide credit
support for some or all of the Offered Certificates, as
the case may be: 1) Subordination 2)
Overcollateralization 3) Excess Cashflow
Subordination: The Mezzanine Certificates will be subordinate to, and
provide credit support for, the Senior Certificates.
Among the Mezzanine Certificates, they will rank in
priority from highest to lowest in the following order:
Class M-1, Class M-2 and Class M-3 Certificates, with
each subsequent Class providing credit support for the
prior Class or Classes, if any.
Overcollateralization: Commencing in December 2004, any Excess Cashflow will be
applied as principal on the Offered Certificates. This
will cause the principal balance of the Mortgage Loans
to exceed the Class Principal Balance of the
Certificates, resulting in Overcollateralization. Any
realized losses on the Mortgage Loans will be applied
first to Excess Cashflow and then to
Overcollateralization. In the event that the
Overcollateralization is so reduced, Excess Cashflow
will be directed to pay principal on the Certificates,
resulting in the limited acceleration of the
Certificates relative to the amortization of the
Mortgage Loans, until the Overcollateralization reaches
the Overcollateralization Target. Upon this event, the
acceleration feature will cease, unless the amount of
Overcollateralization is reduced by realized losses.
Overcollateralization
Target: Prior to the Distribution Date in December 2004, the
Overcollateralization Target will be zero. For any
Distribution thereafter, the Overcollateralization
Target will be equal to 0.65% of the Cut-off Date
Balance (the "Overcollateralization Target").
On or after the Stepdown Date, the Overcollateralization
Target will be equal to 1.30% of the aggregate principal
balance of the Mortgage Loans for the related
Distribution Date, subject to a floor of 0.50% (the "O/C
Floor") of the Cut-off Date Balance of the Mortgage
Loans; provided, however, that if a Trigger Event (as
described herein) is in effect on the related
Distribution Date, the Overcollateralization Target will
be equal to the
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
5
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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Overcollateralization Target on the Distribution Date
immediately preceding the Distribution Date on which
such Trigger Event is in effect.
Excess Cashflow: "Excess Cashflow" for any Distribution Date will be
equal to the available funds remaining after interest
and principal distributions as described under Clauses
1) and 2) of "Priority of Distributions."
Trigger Event: A "Trigger Event" will be in effect on a Distribution
Date on or after the Stepdown Date if either (or both) a
Delinquency Trigger or a Cumulative Loss Trigger is in
effect on such Distribution Date.
Stepdown Date: The earlier to occur of:
(i) the Distribution Date on which the aggregate
principal balance of the Senior Certificates is
reduced to zero; and
(ii) the later to occur of:
a. the Distribution Date in September 2007.
b. the first Distribution Date on which the
aggregate principal balance of the Senior
Certificates after allocation of principal
remittance amount is less than or equal to
87.40% of the aggregate principal balance of
the Mortgage Loans for such Distribution
Date.
Allocation of Losses: Any realized losses on the Mortgage Loans not covered by
Excess Interest or Overcollateralization will be
allocated to each class of Mezzanine Certificates in the
following order: to the Class M-3, Class M-2 and Class
M-1 Certificates, in that order, in each case until the
respective Class Principal Balance of such class of
Mezzanine Certificates has been reduced to zero.
Priority of
Distributions: Available funds from the Mortgage Loans (which are net
of any servicing, master servicing, trustee fees and
private mortgage insurance premium fees) will be
distributed in the following order of priority:
1) Interest funds sequentially to (i) concurrently,
to the Senior Certificates and (ii) sequentially
to the Class M-1, Class M-2 and Class M-3
Certificates;
2) Principal funds, as follows: (i) to the Senior
Certificates (in the manner and priority set forth
under "Senior Certificates Principal Distribution"
below), then (ii) sequentially, to the Class M-1,
Class M-2 and Class M-3 Certificates, each as
described more fully under "Principal Paydown"
below;
3) Beginning on the Distribution Date in December
2004, any remaining Excess Cashflow, to the Senior
Certificates and/or Mezzanine Certificates (as
applicable) to build or maintain
Overcollateralization as described under
"Overcollateralization Target" and "Principal
Paydown," respectively;
4) Any remaining Excess Cashflow to pay (i) any
unpaid interest sequentially, to the Class M-1,
Class M-2 and Class M-3 Certificates, then (ii)
any unpaid realized loss amounts sequentially, to
the Class M-1, Class M-2 and Class M-3
Certificates;
5) Any remaining Excess Cashflow to pay Basis Risk
Shortfalls.
6) To the Class C Certificates, any remaining amount.
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
6
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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Proceeds from Excess Cashflow available to cover Basis
Risk Shortfalls shall generally be distributed to the
Senior Certificates on a pro rata basis, first based on
the Class Principal Balances thereof and second based on
any remaining unpaid Basis Risk Rate Shortfall, and then
sequentially to the Class M-1, Class M-2 and Class M-3
Certificates in that order.
Principal Paydown: Prior to the Stepdown Date or if a Trigger Event is in
effect on any Distribution Date, 100% of the available
principal funds from the Mortgage Loans minus the OC
released amount will be paid to the Senior Certificates,
provided, however, that if the Senior Certificates have
been retired, such amounts will be applied sequentially,
to the Class M-1, Class M-2 and the Class M-3
Certificates.
On any Distribution Date on or after the Stepdown Date,
and if a Trigger Event is not in effect on such
Distribution Date, all of the Senior and Mezzanine
Certificates will be entitled to receive payments of
principal in the following order of priority: (i) first,
to the Senior Certificates (as described under "Senior
Certificates Principal Distribution" below) such that
the Senior Certificates in the aggregate will have
12.60% subordination, (ii) second, to the Class M-1
Certificates such that the Class M-1 Certificates will
have 7.40% subordination, (iii) third, to the Class M-2
Certificates such that the Class M-2 Certificates will
have 3.60% subordination and (iv) fourth, to the Class
M-3 Certificates such that the Class M-3 Certificates
will have 1.30% subordination; each subject to the
required Overcollateralization Target.
Senior Certificates
Principal Distribution: Principal allocated to the Senior Certificates under
"Principal Paydown" above will be distributed to the
Senior Certificates in the following order of priority:
1. To the Class A-6 Certificates, the Lockout
Percentage of their pro rata share of principal as
described below:
Month Lockout Percentage
----- ------------------
1 - 36 0%
37 - 60 45%
61 - 72 80%
73 - 84 100%
85 and after 300%
2. Sequentially to the Class A-1, Class A-2, Class
A-3, Class A-4, Class A-5 and Class A-6
Certificates, until their respective Class
Principal Balances are reduced to zero.
Upon the reduction of the Subordinate Certificates to
zero principal balance, the principal will be allocated
to the remaining Senior Certificates pro-rata.
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
7
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MASTR Alternative Loan Trust
SERIES 2004-9
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
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Discount Margin/Yield Tables (%) (1)
Class A-1 (To Call)
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Margin 0.15%
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Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
DM @ 100-00 15 15 15 15 15
-------------------------------------------------------------------------------------------------------------------
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WAL (yr) 12.54 1.10 0.90 0.76 0.62
MDUR (yr) 11.109 1.098 0.897 0.76 0.619
First Prin Pay 4-Sep 4-Sep 4-Sep 4-Sep 4-Sep
Last Prin Pay 25-May 6-Nov 6-Jun 6-Feb 5-Nov
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Class A-1 (To Maturity)
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Margin 0.15%
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Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
DM @ 100-00 15 15 15 15 15
-------------------------------------------------------------------------------------------------------------------
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WAL (yr) 12.54 1.10 0.90 0.76 0.62
MDUR (yr) 11.109 1.098 0.897 0.760 0.619
First Prin Pay 4-Sep 4-Sep 4-Sep 4-Sep 4-Sep
Last Prin Pay 25-May 6-Nov 6-Jun 6-Feb 5-Nov
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Class A-2 (To Call)
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Coupon 4.09455%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 4.110 4.013 3.985 3.957 3.913
-------------------------------------------------------------------------------------------------------------------
===================================================================================================================
WAL (yr) 21.62 2.50 2.00 1.66 1.32
MDUR (yr) 14.092 2.334 1.885 1.578 1.259
First Prin Pay 25-May 6-Nov 6-Jun 6-Feb 5-Nov
Last Prin Pay 27-Feb 7-May 6-Nov 6-Jun 6-Jan
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The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
8
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MASTR Alternative Loan Trust
SERIES 2004-9
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--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
Class A-2 (To Maturity)
-------------------------------------------------------------------------------------------------------------------
Coupon 4.09455%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 4.110 4.013 3.985 3.957 3.913
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
WAL (yr) 21.62 2.50 2.00 1.66 1.32
MDUR (yr) 14.092 2.334 1.885 1.578 1.259
First Prin Pay 25-May 6-Nov 6-Jun 6-Feb 5-Nov
Last Prin Pay 27-Feb 7-May 6-Nov 6-Jun 6-Jan
-------------------------------------------------------------------------------------------------------------------
Class A-3 (To Call)
-------------------------------------------------------------------------------------------------------------------
Coupon 4.92465%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 4.952 4.880 4.855 4.828 4.789
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
WAL (yr) 24.75 3.86 3.00 2.41 1.88
MDUR (yr) 13.999 3.429 2.721 2.218 1.759
First Prin Pay 27-Feb 7-May 6-Nov 6-Jun 6-Jan
Last Prin Pay 31-May 10-Jan 8-Oct 7-Dec 7-Jan
-------------------------------------------------------------------------------------------------------------------
Class A-3 (To Maturity)
-------------------------------------------------------------------------------------------------------------------
Coupon 4.92465%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 4.952 4.880 4.855 4.828 4.789
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
WAL (yr) 24.75 3.86 3.00 2.41 1.88
MDUR (yr) 13.999 3.429 2.721 2.218 1.759
First Prin Pay 27-Feb 7-May 6-Nov 6-Jun 6-Jan
Last Prin Pay 31-May 10-Jan 8-Oct 7-Dec 7-Jan
-------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
9
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MASTR Alternative Loan Trust
SERIES 2004-9
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--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION
OF THE MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
Class A-4 (To Call)
-------------------------------------------------------------------------------------------------------------------
Coupon 5.54733%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 5.585 5.546 5.525 5.505 5.464
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
WAL (yr) 27.59 6.93 5.00 3.95 2.76
MDUR (yr) 13.804 5.588 4.252 3.453 2.494
First Prin Pay 31-May 10-Jan 8-Oct 7-Dec 7-Jan
Last Prin Pay Jan-33 14-Jan 10-Nov 9-May 8-Feb
-------------------------------------------------------------------------------------------------------------------
Class A-4 (To Maturity)
-------------------------------------------------------------------------------------------------------------------
Coupon 5.54733%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 5.585 5.546 5.525 5.505 5.464
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
WAL (yr) 27.59 6.93 5.00 3.95 2.76
MDUR (yr) 13.804 5.588 4.252 3.453 2.494
First Prin Pay 31-May 10-Jan 8-Oct 7-Dec 7-Jan
Last Prin Pay Jan-33 14-Jan 10-Nov 9-May 8-Feb
-------------------------------------------------------------------------------------------------------------------
Class A-5 (To Call)
-------------------------------------------------------------------------------------------------------------------
Coupon 6.06458%
-------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
===================================================================================================================
Yield @ 100-00 6.111 6.086 6.073 6.058 6.032
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
WAL (yr) 28.40 9.81 7.55 5.90 4.31
MDUR (yr) 13.213 7.195 5.891 4.820 3.683
First Prin Pay Jan-33 14-Jan 10-Nov 9-May 8-Feb
Last Prin Pay Jan-33 14-Jun 12-Jun 11-Jan 9-Aug
-------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
10
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MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
Class A-5 (To Maturity)
------------------------------------------------------------------------------------------------------------------
Coupon 6.06458%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 6.116 6.185 6.180 6.152 6.062
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 29.04 13.15 10.09 7.46 4.59
MDUR (yr) 13.326 8.725 7.230 5.730 3.874
First Prin Pay Jan-33 14-Jan 10-Nov 9-May 8-Feb
Last Prin Pay Apr-34 25-Aug 21-Oct 18-Nov 15-Sep
------------------------------------------------------------------------------------------------------------------
Class A-6 (To Call)
------------------------------------------------------------------------------------------------------------------
Coupon 5.23241%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 5.254 5.227 5.223 5.216 5.205
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 14.92 6.78 6.26 5.61 4.73
MDUR (yr) 9.791 5.513 5.177 4.729 4.085
First Prin Pay 7-Sep 7-Sep 7-Oct 7-Nov 7-Dec
Last Prin Pay Jan-33 14-Jun 12-Jun 11-Jan 9-Aug
------------------------------------------------------------------------------------------------------------------
Class A-6 (To Maturity)
------------------------------------------------------------------------------------------------------------------
Coupon 5.23241%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 5.254 5.232 5.238 5.268 5.318
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 14.92 6.87 6.51 6.32 6.11
MDUR (yr) 9.791 5.563 5.326 5.194 5.045
First Prin Pay 7-Sep 7-Sep 7-Oct 7-Nov 7-Dec
Last Prin Pay Apr-34 25-Aug 21-Oct 18-Nov 15-Sep
------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
11
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
Class M-1 (To Call)
------------------------------------------------------------------------------------------------------------------
Coupon 5.72379%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 5.763 5.719 5.704 5.691 5.678
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 25.86 6.46 5.19 4.41 3.80
MDUR (yr) 13.147 5.163 4.308 3.767 3.314
First Prin Pay 26-Feb 7-Oct 7-Sep 7-Oct 7-Nov
Last Prin Pay Jan-33 14-Jun 12-Jun 11-Jan 9-Aug
------------------------------------------------------------------------------------------------------------------
Class M-1 (To Maturity)
------------------------------------------------------------------------------------------------------------------
Coupon 5.72379%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 5.764 5.741 5.729 5.717 5.702
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 25.95 6.85 5.50 4.67 3.99
MDUR (yr) 13.166 5.369 4.495 3.936 3.452
First Prin Pay 26-Feb 7-Oct 7-Sep 7-Oct 7-Nov
Last Prin Pay Oct-33 18-Feb 15-Jun 13-Jun 11-Jun
------------------------------------------------------------------------------------------------------------------
Class M-2 (To Call)
--------------------------------------------------------------------------------------------------------------
Coupon 6.0000%
--------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==============================================================================================================
Yield @ 100-00 6.044 5.997 5.981 5.967 5.951
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
WAL (yr) 25.84 6.41 5.14 4.36 3.70
MDUR (yr) 12.780 5.080 4.243 3.696 3.219
First Prin Pay 26-Feb 7-Oct 7-Sep 7-Sep 7-Sep
Last Prin Pay Jan-33 14-Jun 12-Jun 11-Jan 9-Aug
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
12
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
Class M-2 (To Maturity)
------------------------------------------------------------------------------------------------------------------
Coupon 6.0000%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 6.044 6.002 5.987 5.974 5.957
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 25.86 6.50 5.21 4.42 3.74
MDUR (yr) 12.785 5.130 4.287 3.736 3.249
First Prin Pay 26-Feb 7-Oct 7-Sep 7-Sep 7-Sep
Last Prin Pay Jun-33 16-Jan 13-Sep 12-Jan 10-May
------------------------------------------------------------------------------------------------------------------
Class M-3 (To Call)
------------------------------------------------------------------------------------------------------------------
Coupon 6.0000%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 6.044 5.987 5.968 5.953 5.937
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 25.20 5.46 4.38 3.74 3.26
MDUR (yr) 12.654 4.487 3.725 3.246 2.876
First Prin Pay 26-Feb 7-Oct 7-Sep 7-Sep 7-Sep
Last Prin Pay Jun-32 13-Feb 11-May 10-Feb 8-Nov
------------------------------------------------------------------------------------------------------------------
Class M-3 (To Maturity)
------------------------------------------------------------------------------------------------------------------
Coupon 6.0000%
------------------------------------------------------------------------------------------------------------------
Percent of Pricing Prepayment Speed 0% 80% 100% 120% 150%
==================================================================================================================
Yield @ 100-00 6.044 5.987 5.968 5.953 5.937
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
WAL (yr) 25.20 5.46 4.38 3.74 3.26
MDUR (yr) 12.654 4.487 3.725 3.246 2.876
First Prin Pay 26-Feb 7-Oct 7-Sep 7-Sep 7-Sep
Last Prin Pay Jun-32 13-Feb 11-May 10-Feb 8-Nov
------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
13
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
Mortage Loan Statistical Information
1. Pool Summary
Number of Loans: 1,631
Aggregrate Scheduled Principal Balance: $349,996,765
Minimum Scheduled Principal Balance: $24,510
Maximum Scheduled Principal Balance: $1,256,760
Average Scheduled Principal Balance: $214,590
Minimum Mortgage Interest Rate: 6.625%
Maximum Mortgage Interest Rate: 9.500%
WA Mortgage Interest Rate: 7.043%
Minimum Remaing Scheduled Term: 294
Maxinum Remaining Scheduled Term: 360
WA Remaining Scheduled Term: 357
Minimum Original LTV: 16.99%
Maximum Original LTV: 97.00%
WA Original LTV: 82.96%
Latest Maturity: 20340701
Prepay %: 33.60%
Interest Only %: 0.11%
Conforming %: 56.79%
BLN %: 0.00%
WA Seasoning: 3
WA Original Term: 360
WA Fico: 692
% LTV > 80 NO MI: 0.00%
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
14
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
2. Range of Original Principal Balances
----------------------------------------------------------------------------------------------------------
Range of Original Principal Balances # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
$200,000 or less 1,001 $119,859,788 34.25%
----------------------------------------------------------------------------------------------------------
$200,001 - $250,000 150 33,373,627 9.54
----------------------------------------------------------------------------------------------------------
$250,001 - $300,000 86 23,292,970 6.66
----------------------------------------------------------------------------------------------------------
$300,001 - $350,000 91 29,904,114 8.54
----------------------------------------------------------------------------------------------------------
$350,001 - $400,000 126 47,096,851 13.46
----------------------------------------------------------------------------------------------------------
$400,001 - $450,000 45 19,147,650 5.47
----------------------------------------------------------------------------------------------------------
$450,001 - $500,000 43 20,578,630 5.88
----------------------------------------------------------------------------------------------------------
$500,001 - $550,000 26 13,531,542 3.87
----------------------------------------------------------------------------------------------------------
$550,001 - $600,000 21 11,766,096 3.36
----------------------------------------------------------------------------------------------------------
$600,001 - $650,000 20 12,614,110 3.6
----------------------------------------------------------------------------------------------------------
$650,001 - $700,000 7 4,741,105 1.35
----------------------------------------------------------------------------------------------------------
$700,001 - $750,000 2 1,449,840 0.41
----------------------------------------------------------------------------------------------------------
$750,001 - $800,000 3 2,314,942 0.66
----------------------------------------------------------------------------------------------------------
$800,001 - $850,000 1 837,355 0.24
----------------------------------------------------------------------------------------------------------
$900,001 - $950,000 2 1,838,148 0.53
----------------------------------------------------------------------------------------------------------
$950,001 - $1,000,000 3 2,987,059 0.85
----------------------------------------------------------------------------------------------------------
$1,000,001 or more 4 4,662,937 1.33
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
Average Original Bal: 215,695
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
15
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
3. Range of Loan Interest Rates
----------------------------------------------------------------------------------------------------------
Range of Loan Interest Rates # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
6.501% - 6.625% 195 $36,796,338 10.51%
----------------------------------------------------------------------------------------------------------
6.626% - 6.750% 346 75,355,519 21.53
----------------------------------------------------------------------------------------------------------
6.751% - 6.875% 324 77,616,168 22.18
----------------------------------------------------------------------------------------------------------
6.876% - 7.000% 190 36,652,077 10.47
----------------------------------------------------------------------------------------------------------
7.001% - 7.125% 136 25,673,823 7.34
----------------------------------------------------------------------------------------------------------
7.126% - 7.250% 117 23,817,289 6.81
----------------------------------------------------------------------------------------------------------
7.251% - 7.375% 84 19,560,505 5.59
----------------------------------------------------------------------------------------------------------
7.376% - 7.500% 81 19,071,302 5.45
----------------------------------------------------------------------------------------------------------
7.501% - 7.625% 35 7,011,847 2
----------------------------------------------------------------------------------------------------------
7.626% - 7.750% 48 10,734,926 3.07
----------------------------------------------------------------------------------------------------------
7.751% - 7.875% 32 6,167,776 1.76
----------------------------------------------------------------------------------------------------------
7.876% - 8.000% 16 4,157,468 1.19
----------------------------------------------------------------------------------------------------------
8.001% - 8.125% 10 2,198,615 0.63
----------------------------------------------------------------------------------------------------------
8.126% - 8.250% 10 2,841,815 0.81
----------------------------------------------------------------------------------------------------------
8.251% - 8.375% 3 337,041 0.1
----------------------------------------------------------------------------------------------------------
8.376% - 8.500% 2 1,260,194 0.36
----------------------------------------------------------------------------------------------------------
8.751% - 8.875% 1 347,055 0.1
----------------------------------------------------------------------------------------------------------
9.376% - 9.500% 1 397,006 0.11
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
Weighted Average: 7.043%
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
16
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
4. Range of Original Loan to Value Ratios
----------------------------------------------------------------------------------------------------------
Range of Original Loan to Value Ratios # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
50.00% or less 54 $7,504,760 2.14%
----------------------------------------------------------------------------------------------------------
50.01% - 55.00% 16 3,262,724 0.93
----------------------------------------------------------------------------------------------------------
55.01% - 60.00% 24 4,920,416 1.41
----------------------------------------------------------------------------------------------------------
60.01% - 65.00% 31 8,946,516 2.56
----------------------------------------------------------------------------------------------------------
65.01% - 70.00% 60 16,338,557 4.67
----------------------------------------------------------------------------------------------------------
70.01% - 75.00% 96 23,706,751 6.77
----------------------------------------------------------------------------------------------------------
75.01% - 80.00% 369 107,411,343 30.69
----------------------------------------------------------------------------------------------------------
80.01% - 85.00% 80 16,698,888 4.77
----------------------------------------------------------------------------------------------------------
85.01% - 90.00% 338 70,500,343 20.14
----------------------------------------------------------------------------------------------------------
90.01% - 95.00% 562 90,555,080 25.87
----------------------------------------------------------------------------------------------------------
95.01% - 100.00% 1 151,388 0.04
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
Weighted Average: 82.96
5. Property Type
----------------------------------------------------------------------------------------------------------
Property Type # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
Single Family 1,302 $262,675,260 75.05%
----------------------------------------------------------------------------------------------------------
Two- to Four Family 109 33,678,689 9.62
----------------------------------------------------------------------------------------------------------
Planned Unit Development 94 28,976,391 8.28
----------------------------------------------------------------------------------------------------------
Condominium 118 23,226,646 6.64
----------------------------------------------------------------------------------------------------------
Coop 4 736,894 0.21
----------------------------------------------------------------------------------------------------------
Multifamily > 4 units 3 531,927 0.15
----------------------------------------------------------------------------------------------------------
Mobile Home Unattached 1 170,959 0.05
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
17
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
6. Loan Purpose
----------------------------------------------------------------------------------------------------------
Loan Purpose # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
Purchase 875 $192,800,429 55.09%
----------------------------------------------------------------------------------------------------------
Cash Out Refinance 623 129,840,694 37.1
----------------------------------------------------------------------------------------------------------
Rate & Term Refinance 133 27,355,641 7.82
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
7. Occupancy Status
----------------------------------------------------------------------------------------------------------
Occupancy Status # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
Primary 1,538 $323,680,073 92.48%
----------------------------------------------------------------------------------------------------------
Secondary 71 16,461,552 4.7
----------------------------------------------------------------------------------------------------------
Investor 22 9,855,140 2.82
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
8. Range of Remaining Term to Maturity (Months)
-----------------------------------------------------------------------------------------------------------
Range of Remaining Term to Maturity (Months) # of Loans Aggregate Balance % of Aggregate Balance
-----------------------------------------------------------------------------------------------------------
241 - 300 1 $67,507 0.02%
-----------------------------------------------------------------------------------------------------------
301 - 360 1,630 349,929,258 99.98
-----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
-----------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
18
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
9. Seasoning (Months)
----------------------------------------------------------------------------------------------------------
Seasoning (Months) # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
0 348 $86,357,026 24.67%
----------------------------------------------------------------------------------------------------------
1 334 58,710,482 16.77
----------------------------------------------------------------------------------------------------------
2 286 47,847,533 13.67
----------------------------------------------------------------------------------------------------------
3 163 28,839,912 8.24
----------------------------------------------------------------------------------------------------------
4 92 17,975,822 5.14
----------------------------------------------------------------------------------------------------------
5 96 18,733,316 5.35
----------------------------------------------------------------------------------------------------------
6 114 31,861,553 9.1
----------------------------------------------------------------------------------------------------------
7 75 18,788,611 5.37
----------------------------------------------------------------------------------------------------------
8 80 30,333,497 8.67
----------------------------------------------------------------------------------------------------------
9 20 6,003,666 1.72
----------------------------------------------------------------------------------------------------------
10 5 1,102,651 0.32
----------------------------------------------------------------------------------------------------------
11 5 688,991 0.2
----------------------------------------------------------------------------------------------------------
12 1 705,109 0.2
----------------------------------------------------------------------------------------------------------
13 1 395,472 0.11
----------------------------------------------------------------------------------------------------------
14 4 484,675 0.14
----------------------------------------------------------------------------------------------------------
15 1 164,481 0.05
----------------------------------------------------------------------------------------------------------
21 1 121,497 0.03
----------------------------------------------------------------------------------------------------------
23 1 319,679 0.09
----------------------------------------------------------------------------------------------------------
29 1 195,245 0.06
----------------------------------------------------------------------------------------------------------
36 1 145,201 0.04
----------------------------------------------------------------------------------------------------------
38 2 222,344 0.06
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
Weighted Average: 3
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
19
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
10. Geographic Distribution
----------------------------------------------------------------------------------------------------------
Geographic Distribution # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
California 152 $52,495,836 15.00%
----------------------------------------------------------------------------------------------------------
New York 135 46,858,945 13.39
----------------------------------------------------------------------------------------------------------
Florida 140 27,959,625 7.99
----------------------------------------------------------------------------------------------------------
New Jersey 78 21,763,650 6.22
----------------------------------------------------------------------------------------------------------
Virginia 68 15,370,751 4.39
----------------------------------------------------------------------------------------------------------
Maryland 60 14,443,919 4.13
----------------------------------------------------------------------------------------------------------
Massachusetts 39 12,884,273 3.68
----------------------------------------------------------------------------------------------------------
Texas 70 12,000,762 3.43
----------------------------------------------------------------------------------------------------------
Pennsylvania 74 10,372,357 2.96
----------------------------------------------------------------------------------------------------------
Illinois 48 9,278,307 2.65
----------------------------------------------------------------------------------------------------------
Ohio 71 9,062,613 2.59
----------------------------------------------------------------------------------------------------------
Nevada 39 8,992,835 2.57
----------------------------------------------------------------------------------------------------------
Arizona 48 8,434,120 2.41
----------------------------------------------------------------------------------------------------------
Michigan 49 8,373,683 2.39
----------------------------------------------------------------------------------------------------------
Washington 44 8,357,973 2.39
----------------------------------------------------------------------------------------------------------
Minnesota 42 7,182,435 2.05
----------------------------------------------------------------------------------------------------------
Colorado 35 6,684,306 1.91
----------------------------------------------------------------------------------------------------------
Georgia 25 4,901,392 1.4
----------------------------------------------------------------------------------------------------------
New Hampshire 14 4,400,102 1.26
----------------------------------------------------------------------------------------------------------
Oregon 23 3,937,058 1.12
----------------------------------------------------------------------------------------------------------
North Carolina 24 3,697,816 1.06
----------------------------------------------------------------------------------------------------------
Hawaii 10 3,664,795 1.05
----------------------------------------------------------------------------------------------------------
Louisiana 29 3,562,840 1.02
----------------------------------------------------------------------------------------------------------
Wisconsin 21 3,433,082 0.98
----------------------------------------------------------------------------------------------------------
Missouri 29 3,421,485 0.98
----------------------------------------------------------------------------------------------------------
Alabama 14 2,916,779 0.83
----------------------------------------------------------------------------------------------------------
Idaho 16 2,736,910 0.78
----------------------------------------------------------------------------------------------------------
Utah 14 2,688,873 0.77
----------------------------------------------------------------------------------------------------------
Iowa 20 2,490,759 0.71
----------------------------------------------------------------------------------------------------------
Maine 10 2,022,840 0.58
----------------------------------------------------------------------------------------------------------
New Mexico 17 2,003,480 0.57
----------------------------------------------------------------------------------------------------------
Arkansas 14 1,912,287 0.55
----------------------------------------------------------------------------------------------------------
Kansas 12 1,882,340 0.54
----------------------------------------------------------------------------------------------------------
Delaware 10 1,850,381 0.53
----------------------------------------------------------------------------------------------------------
Indiana 18 1,722,823 0.49
----------------------------------------------------------------------------------------------------------
Connecticut 8 1,642,743 0.47
----------------------------------------------------------------------------------------------------------
Montana 11 1,562,354 0.45
----------------------------------------------------------------------------------------------------------
Tennessee 14 1,536,368 0.44
----------------------------------------------------------------------------------------------------------
District Of Columbia 7 1,415,125 0.4
----------------------------------------------------------------------------------------------------------
Nebraska 11 1,374,361 0.39
----------------------------------------------------------------------------------------------------------
West Virginia 10 1,274,323 0.36
----------------------------------------------------------------------------------------------------------
South Carolina 11 1,081,252 0.31
----------------------------------------------------------------------------------------------------------
Mississippi 8 1,068,684 0.31
----------------------------------------------------------------------------------------------------------
Oklahoma 10 1,038,876 0.3
----------------------------------------------------------------------------------------------------------
Wyoming 7 950,605 0.27
----------------------------------------------------------------------------------------------------------
Kentucky 6 900,763 0.26
----------------------------------------------------------------------------------------------------------
Vermont 6 844,752 0.24
----------------------------------------------------------------------------------------------------------
Rhode Island 4 794,020 0.23
----------------------------------------------------------------------------------------------------------
South Dakota 3 471,965 0.13
----------------------------------------------------------------------------------------------------------
North Dakota 2 154,736 0.04
----------------------------------------------------------------------------------------------------------
Alaska 1 123,404 0.04
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
top zip %: 0.51
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
20
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
11. Document Type
----------------------------------------------------------------------------------------------------------
Document Type # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
No Doc 828 $150,527,491 43.01%
----------------------------------------------------------------------------------------------------------
Stated Doc 313 60,900,817 17.4
----------------------------------------------------------------------------------------------------------
Reduced 150 57,932,632 16.55
----------------------------------------------------------------------------------------------------------
No Ratio 238 45,119,134 12.89
----------------------------------------------------------------------------------------------------------
Streamline 56 23,481,340 6.71
----------------------------------------------------------------------------------------------------------
Full 41 10,582,517 3.02
----------------------------------------------------------------------------------------------------------
Alternate 3 1,171,538 0.33
----------------------------------------------------------------------------------------------------------
Limited 2 281,295 0.08
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
21
-------------------------------------------------
MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
12. Credit Scores
----------------------------------------------------------------------------------------------------------
Credit Scores # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
551 - 600 8 $2,261,907 0.65%
----------------------------------------------------------------------------------------------------------
601 - 650 326 64,576,153 18.45
----------------------------------------------------------------------------------------------------------
651 - 700 657 137,430,579 39.27
----------------------------------------------------------------------------------------------------------
701 - 750 449 104,368,950 29.82
----------------------------------------------------------------------------------------------------------
751 - 800 179 38,606,645 11.03
----------------------------------------------------------------------------------------------------------
801 - 850 10 2,465,816 0.7
----------------------------------------------------------------------------------------------------------
Not Available 2 286,714 0.08
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
Weighted Average: 692
13. Loan Seller
----------------------------------------------------------------------------------------------------------
Loan Seller # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
American Gold Mortgage Corp. 1 $175,860 0.05%
----------------------------------------------------------------------------------------------------------
Alliance Bancorp 1 169,424 0.05
----------------------------------------------------------------------------------------------------------
Alliance Mortgage Company 3 1,171,538 0.33
----------------------------------------------------------------------------------------------------------
Cendant Mortgage 9 1,042,746 0.3
----------------------------------------------------------------------------------------------------------
Chase Mortgage 53 13,751,155 3.93
----------------------------------------------------------------------------------------------------------
Countrywide Home Loans 121 52,038,152 14.87
----------------------------------------------------------------------------------------------------------
First Financial 4 1,129,766 0.32
----------------------------------------------------------------------------------------------------------
First Horizon 29 5,313,703 1.52
----------------------------------------------------------------------------------------------------------
First Magnus 2 271,105 0.08
----------------------------------------------------------------------------------------------------------
Flagstrat 23 3,393,700 0.97
----------------------------------------------------------------------------------------------------------
Greenpoint Mortgage Corporation 105 45,824,135 13.09
----------------------------------------------------------------------------------------------------------
Homestar 7 1,511,130 0.43
----------------------------------------------------------------------------------------------------------
Market Street 11 1,991,142 0.57
----------------------------------------------------------------------------------------------------------
Mortgage Network 5 939,416 0.27
----------------------------------------------------------------------------------------------------------
Nat City Mortgage 134 24,654,632 7.04
----------------------------------------------------------------------------------------------------------
Quicken Loans 36 6,203,450 1.77
----------------------------------------------------------------------------------------------------------
Virtual Bank 1 994,887 0.28
----------------------------------------------------------------------------------------------------------
Xxxxx Fargo Home Mortgage 1,028 171,533,881 49.01
----------------------------------------------------------------------------------------------------------
UBS Conduit 27 9,570,720 2.73
----------------------------------------------------------------------------------------------------------
Wamu 23 5,444,969 1.56
----------------------------------------------------------------------------------------------------------
Washington Mutual Bank 8 2,871,255 0.82
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
22
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MASTR Alternative Loan Trust
SERIES 2004-9
-------------------------------------------------
--------------------------------------------------------------------------------
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT
--------------------------------------------------------------------------------
14. Servicer
----------------------------------------------------------------------------------------------------------
Servicer # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
Alliance Mortgage 3 $1,171,538 0.33%
----------------------------------------------------------------------------------------------------------
Cendant 9 1,042,746 0.3
----------------------------------------------------------------------------------------------------------
Chase Home Mtg 53 13,751,155 3.93
----------------------------------------------------------------------------------------------------------
Countrywide Home Loans 121 52,038,152 14.87
----------------------------------------------------------------------------------------------------------
First Horizon 29 5,313,703 1.52
----------------------------------------------------------------------------------------------------------
GMAC Mortgage 117 25,355,712 7.24
----------------------------------------------------------------------------------------------------------
Greenpoint 105 45,824,135 13.09
----------------------------------------------------------------------------------------------------------
National City Mortgage 134 24,654,632 7.04
----------------------------------------------------------------------------------------------------------
Virtual Bank 1 994,887 0.28
----------------------------------------------------------------------------------------------------------
Wamu 23 5,444,969 1.56
----------------------------------------------------------------------------------------------------------
Washington Mutual Bank 8 2,871,255 0.82
----------------------------------------------------------------------------------------------------------
Xxxxx Fargo 1,028 171,533,881 49.01
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
15. Mortgage Ins
----------------------------------------------------------------------------------------------------------
Mortgage Ins # of Loans Aggregate Balance % of Aggregate Balance
----------------------------------------------------------------------------------------------------------
Xxxxxx 363 $61,325,992 17.52%
----------------------------------------------------------------------------------------------------------
Assumed MI 4 529,412 0.15
----------------------------------------------------------------------------------------------------------
GEMICO 3 1,019,279 0.29
----------------------------------------------------------------------------------------------------------
Lender Paid MI 3 552,275 0.16
----------------------------------------------------------------------------------------------------------
MGIC 14 3,975,951 1.14
----------------------------------------------------------------------------------------------------------
PMI Mortgage Insurance 453 78,749,347 22.5
----------------------------------------------------------------------------------------------------------
Radian Guaranty 21 3,607,560 1.03
----------------------------------------------------------------------------------------------------------
Republic Mortgage Insurance 6 2,440,634 0.7
----------------------------------------------------------------------------------------------------------
Triad Guaranty Insurance Co. 75 12,753,953 3.64
----------------------------------------------------------------------------------------------------------
United Guaranty 39 12,951,296 3.7
----------------------------------------------------------------------------------------------------------
ORIG LTV < 80 650 172,091,066 49.17
----------------------------------------------------------------------------------------------------------
Total: 1,631 $349,996,765 100.00%
----------------------------------------------------------------------------------------------------------
% LTV > 80 NO MI: 0.00%
--------------------------------------------------------------------------------
The information herein has been provided solely by UBS Securities LLC. Neither
the issuer of certificates nor any of its affiliates makes any representation as
to the accuracy or completeness of the information herein. The information
herein 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 contained herein will be superseded by
the description of the mortgage loans contained and/or incorporated by reference
in the Prospectus Supplement relating to the Certificates and supersedes all
information contained in any collateral term sheets relating to the mortgage
pool previously provided by UBS Securities LLC.
--------------------------------------------------------------------------------
23
