$939,958,998 Government National Mortgage Association ......Jul 24, 2020 · The Mortgage Loans underlying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B Trust Assets may bear interest

Offering Circular Supplement (To Base Offering Circular dated March 1, 2020)

$939,958,998 Government National Mortgage Association

GINNIE MAE®

Guaranteed REMIC Pass-Through Securities and MX Securities

Ginnie Mae REMIC Trust 2020-098

The Securities

The Trust will issue the Classes of Securities listed on the front cover of this offering circular supplement.

The Ginnie Mae Guaranty

Ginnie Mae will guarantee the timely payment of principal and interest on the securities. The Ginnie Mae Guar-anty is backed by the full faith and credit of the United States of America.

The Trust and its Assets

The Trust will own (1) Ginnie Mae Certificates and (2) certain previously issued certificates.

The securities may not be suit-able investments for you. You should consider carefully the risks of investing in them.

See “Risk Factors” beginning on page S-11 which highlights some of these risks.

The Sponsor and the Co-Sponsor will offer the securities from time to time in negotiated transactions at varying prices. We expect the clos-ing date to be July 30, 2020.

You should read the Base Offering Circular as well as this Supplement.

Class of REMIC Securities

Original Principal

Balance(2) Interest

Rate Principal Type(3)

Interest Type(3)

CUSIP Number

Final Distribution

Date(4)

Security Group 1 PM(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PQ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZG(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZQ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$195,562,202 107,757,888 14,064,802 7,749,930

3.50% 3.50 3.50 3.50

PAC/AD PAC/AD

SUP SUP

FIX FIX

FIX/Z FIX/Z

38382GQD7 38382GQE5 38382GQF2 38382GQG0

July 2050 July 2050 July 2050 July 2050

Security Group 2 P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44,902,003 5,879,450

2.50 2.50

PAC/AD SUP

FIX FIX/Z

38382GQH8 38382GQJ4

July 2050 July 2050

Security Group 3 DA(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DB(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

71,320,640 28,679,360 16,729,626 35,660,319 35,660,319

1.25 1.25 3.00 (5) (5)

PT PT

NTL(PT) PT

NTL(PT)

FIX FIX

FIX/IO FLT

INV/IO

38382GQK1 38382GQL9 38382GQM7 38382GQN5 38382GQP0

July 2050 July 2050 July 2050 July 2050 July 2050

Security Group 4 CA(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CB(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CZ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16,820,000 457,000

2,002,653

3.00 3.00 3.00

SC/PAC/AD SC/PAC/AD

SC/SUP

FIX FIX

FIX/Z

38382GQQ8 38382GQR6 38382GQS4

August 2046 August 2046 August 2046

Security Group 5 CI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CM(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CN(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZC(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1,221,208 7,580,000

155,000 813,458

3.50 3.00 3.00 3.00

NTL(PT) PAC/AD PAC/AD

SUP

FIX/IO FIX FIX

FIX/Z

38382GQT2 38382GQU9 38382GQV7 38382GQW5

July 2050 July 2050 July 2050 July 2050

Security Group 6 QP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . QZ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

31,907,000 5,220,995

2.90 2.90

SC/PAC/AD SC/SUP

FIX FIX/Z

38382GQX3 38382GQY1

April 2050 April 2050

Security Group 7 CH(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZH(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9,943,000 1,111,027

3.00 3.00

SC/PAC/AD SC/SUP

FIX FIX/Z

38382GQZ8 38382GRA2

January 2048 January 2048

Security Group 8 AJ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JA(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JZ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZJ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

38,846,000 37,587,000 1,587,318

10,032,547 10,532,969

2.60 2.60 3.00 2.60 2.60

SC/PAC/AD SC/PAC/AD NTL(SC/PT)

SC/SUP SC/SUP

FIX FIX

FIX/IO FIX/Z FIX/Z

38382GRB0 38382GRC8 38382GRD6 38382GRE4 38382GRF1

March 2050 April 2050 April 2050 April 2050

March 2050

Security Group 9 BZ(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GA(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GB(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ZB(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3,075,687 11,373,000 12,958,000 4,702,604 3,501,116

2.50 2.50 2.50 3.50 2.50

SC/SUP SC/PAC/AD

PAC/AD NTL(PT)

SUP

FIX/Z FIX FIX

FIX/IO FIX/Z

38382GRG9 38382GRH7 38382GRJ3 38382GRK0 38382GRL8

March 2050 March 2050 July 2050 July 2050 July 2050

Security Group 10 KA(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . KF(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . KS(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

66,122,914 49,592,185 49,592,185

1.25 (5) (5)

PT PT

NTL(PT)

FIX FLT

INV/IO

38382GRM6 38382GRN4 38382GRP9

July 2050 July 2050 July 2050

Security Group 11 EA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ES(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . EZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SE(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

49,505,000 120,000

43,500,341 7,089,285

25,200,000 15,625,512 18,300,341

1.00 1.00 (5)

3.50 (5)

1.50 (5)

PAC/AD PAC/AD

PT NTL(PAC/AD)

NTL(PT) SUP

NTL(PT)

FIX FIX FLT

FIX/IO INV/IO FIX/Z

INV/IO

38382GRQ7 38382GRR5 38382GRS3 38382GWA6 38382GWB4 38382GWC2 38382GWD0

July 2050 July 2050 July 2050 July 2050 July 2050 July 2050 July 2050

Residuals R1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . R10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . RR11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

0 0 0 0 0 0 0 0 0 0 0

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

NPR NPR NPR NPR NPR NPR NPR NPR NPR NPR NPR

NPR NPR NPR NPR NPR NPR NPR NPR NPR NPR NPR

38382GRT1 38382GRU8 38382GRV6 38382GRW4 38382GRX2 38382GRY0 38382GRZ7 38382GVZ2 38382GSA1 38382GSB9 38382GSC7

July 2050 July 2050 July 2050

August 2046 July 2050 April 2050

January 2048 April 2050 July 2050 July 2050 July 2050

(1) These Securities may be exchanged for MX Securities described in Schedule I to this Supplement. The securities are exempt from (2) Subject to increase as described under “Increase in Size” in this Supplement. The amount shown for each Notional

registration under the Securities Act Class (indicated by “NTL” under Principal Type) is its original Class Notional Balance and does not represent princi-pal that will be paid. of 1933 and are “exempted secu- (3) As defined under “Class Types” in Appendix I to the Base Offering Circular. The Class Notional Balance of each

rities” under the Securities Notional Class will be reduced as shown under “Terms Sheet — Notional Classes” in this Supplement. (4) See “Yield, Maturity and Prepayment Considerations — Final Distribution Date” in this Supplement.Exchange Act of 1934. (5) See “Terms Sheet — Interest Rates” in this Supplement.

Goldman Sachs & Co. LLC Ramirez & Co., Inc. The date of this Offering Circular Supplement is July 24, 2020.

AVAILABLE INFORMATION

You should purchase the securities only if you have read and understood the following documents:

� this Offering Circular Supplement (this “Supplement”),

� the Base Offering Circular and

� in the case of the Group 4, 6, 7, 8 and 9 securities, each disclosure document relating to the Underlying Certificates (the “Underlying Certificate Disclosure Documents”).

The Base Offering Circular and the Underlying Certificate Disclosure Documents are available on Ginnie Mae’s website located at http://www.ginniemae.gov (“ginniemae.gov”).

If you do not have access to the internet, call BNY Mellon, which will act as information agent for the Trust, at (800) 234-GNMA, to order copies of the Base Offering Circular. In addition, you can obtain copies of any other document listed above by contacting BNY Mellon at the telephone number listed above.

Please consult the standard abbreviations of Class Types included in the Base Offering Circular as Appendix I and the glossary included in the Base Offering Circular as Appendix II for definitions of capitalized terms.

TABLE OF CONTENTS

Page Page

Terms Sheet . . . . . . . . . . . . . . . . . . . . . . . S-3 ERISA Matters . . . . . . . . . . . . . . . . . . . . . . S-44 Risk Factors . . . . . . . . . . . . . . . . . . . . . . . S-11 Legal Investment Considerations . . . . . . . S-44 The Trust Assets . . . . . . . . . . . . . . . . . . . . S-15 Plan of Distribution . . . . . . . . . . . . . . . . . S-44 Ginnie Mae Guaranty . . . . . . . . . . . . . . . . S-17 Increase in Size . . . . . . . . . . . . . . . . . . . . . S-45 Description of the Securities . . . . . . . . . . S-17 Legal Matters . . . . . . . . . . . . . . . . . . . . . . . S-45 Yield, Maturity and Prepayment Schedule I: Available Combinations . . . . S-I-1

Considerations . . . . . . . . . . . . . . . . . . . S-22 Schedule II: Scheduled Principal Certain United States Federal Income Tax Balances . . . . . . . . . . . . . . . . . . . . . . . . S-II-1

Consequences . . . . . . . . . . . . . . . . . . . S-41 Exhibit A: Underlying Certificates . . . . . . A-1

S-2

https://ginniemae.gov

http://www.ginniemae.gov

TERMS SHEET

This terms sheet contains selected information for quick reference only. You should read this Sup-plement, particularly “Risk Factors,” and each of the other documents listed under “Available Information.”

Sponsor: Goldman Sachs & Co. LLC

Co-Sponsor: Samuel A. Ramirez & Company, Inc.

Trustee: U.S. Bank National Association

Tax Administrator: The Trustee

Closing Date: July 30, 2020

Distribution Date: The 20th day of each month or, if the 20th day is not a Business Day, the first Business Day thereafter, commencing in August 2020.

Trust Assets:

Trust Asset Original Term Group or To Maturity

Subgroup(2) Trust Asset Type Certificate Rate (in years)

1A Ginnie Mae II 3.5% 30 1B Ginnie Mae II 3.5% 30 2 Ginnie Mae II 2.5% 30 3A Ginnie Mae II 3.0% 30 3B Ginnie Mae II 3.0% 30

(1) (1) 4 Underlying Certificates 5 Ginnie Mae II 3.5% 30 6 Underlying Certificate (1) (1)

7 Underlying Certificate (1) (1)

(1) (1) 8A Underlying Certificate (1) (1) 8B Underlying Certificate (1) (1) 9A Underlying Certificate

9B Ginnie Mae II 3.5% 30 10 Ginnie Mae II 3.5% 30 11A Ginnie Mae II 3.5% 30 11B Ginnie Mae II 3.5% 30

(1) Certain information regarding the Underlying Certificates is set forth in Exhibit A to this Supplement.

(2) The Group 1, 3, 8, 9 and 11 Trust Assets consist of the enumerated sub-groups (each, a “Subgroup”).

Security Groups: This series of Securities consists of multiple Security Groups (each, a “Group”), as shown on the front cover of this Supplement and on Schedule I to this Supplement. Except in the case of certain MX Classes in Groups 1, 4, 5, 6, 7 and 10, payments on each Group will be based solely on payments on the Trust Asset Group with the same numerical designation.

S-3

Assumed Characteristics of the Mortgage Loans Underlying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B Trust Assets(1):

Weighted Average Remaining Term Weighted Average Weighted

Principal to Maturity Loan Age Average Balance (in months) (in months) Mortgage Rate(2)

Subgroup 1A Trust Assets $115,507,818 353 5 3.910%

Subgroup 1B Trust Assets $209,627,004 353 5 3.910%

Group 2 Trust Assets $50,781,453(3) 356 3 2.900%



Group 5 Trust Assets $8,548,458 354 2 3.979%

Subgroup 9B Trust Assets $16,459,116(3) 360 0 3.815%

Group 10 Trust Assets $115,715,099 355 4 3.870%



(1) As of July 1, 2020. (2) The Mortgage Loans underlying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B

Trust Assets may bear interest at rates ranging from 0.25% to 1.50% per annum above the related Certificate Rate.

(3) More than 10% of the Mortgage Loans underlying the Group 2 and Subgroup 9B Trust Assets may be higher balance Mortgage Loans. See “Risk Factors” in this Supplement.

The actual remaining terms to maturity, loan ages and Mortgage Rates of many of the Mortgage Loans underlying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B Trust Assets will differ from the weighted averages shown above, perhaps significantly. See “The Trust Assets — The Mortgage Loans” in this Supplement.

Characteristics of the Group 4, 6, 7 and 8 and Subgroup 9A Trust Assets: See Exhibit A to this Supplement for certain information regarding the characteristics of the related Underlying Certificates.

Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the “Fedwire Book-Entry System”). The Residual Securities will be issued in fully registered, certificated form. See “Description of the Securities — Form of Securities” in this Supplement.

S-4

Modification and Exchange: If you own exchangeable Securities you will be able, upon notice and payment of an exchange fee, to exchange them for a proportionate interest in the related Securities shown on Schedule I to this Supplement. See “Description of the Securities — Modification and Exchange” in this Supplement.

Increased Minimum Denomination Classes: Each Class that constitutes an Interest Only Class. See “Description of the Securities — Form of Securities” in this Supplement.

Interest Rates: The Interest Rates for the Fixed Rate Classes are shown on the front cover of this Supplement or on Schedule I to this Supplement.

The Floating Rate and Inverse Floating Rate Classes will bear interest at per annum rates based on one-month LIBOR (hereinafter referred to as “LIBOR”) as follows:

Initial LIBOR Interest Interest Minimum Maximum Delay for Minimum

Class Rate Formula(1) Rate(2) Rate Rate (in days) Interest Rate

Security Group 3 FA . . . . . . . . . . . . . . . . . . . . . . . LIBOR + 0.35% 0.516% 0.35% 6.50% 0 0.00% SA . . . . . . . . . . . . . . . . . . . . . . . 6.15% � LIBOR 5.984% 0.00% 6.15% 0 6.15% Security Group 10 KF . . . . . . . . . . . . . . . . . . . . . . . LIBOR + 0.30% 0.477% 0.30% 6.50% 0 0.00% KS . . . . . . . . . . . . . . . . . . . . . . . 6.20% � LIBOR 6.023% 0.00% 6.20% 0 6.20% Security Group 11 EF . . . . . . . . . . . . . . . . . . . . . . . LIBOR + 0.30% 0.477% 0.30% 6.50% 0 0.00% ES . . . . . . . . . . . . . . . . . . . . . . . . 6.20% � LIBOR 6.023% 0.00% 6.20% 0 6.20% S . . . . . . . . . . . . . . . . . . . . . . . . . 6.20% � LIBOR 6.023% 0.00% 6.20% 0 6.20% SE . . . . . . . . . . . . . . . . . . . . . . . . 6.20% � LIBOR 6.023% 0.00% 6.20% 0 6.20%

(1) LIBOR will be established as described under “Description of the Securities — Interest Dis-tributions — Floating Rate and Inverse Floating Rate Classes” in this Supplement.

(2) The initial Interest Rate will be in effect during the first Accrual Period; the Interest Rate will adjust monthly thereafter.

Class ZX is a Weighted Average Coupon Class that will accrue interest during each Accrual Period at an equivalent annualized rate derived by aggregating the accrued interest on its related REMIC Classes for such Accrual Period expressed as a percentage of its outstanding principal balance for such Accrual Period. The approximate initial Interest Rate for Class ZX, which will be in effect for the first Accrual Period, is 2.94293%.

Allocation of Principal: On each Distribution Date for a Security Group, the following distributions will be made to the related Securities:

SECURITY GROUP 1

The Subgroup 1A Principal Distribution Amount, the Subgroup 1B Principal Distribution Amount, the ZG Accrual Amount and the ZQ Accrual Amount will be allocated as follows:

� The Subgroup 1A Principal Distribution Amount and the ZQ Accrual Amount in the following order of priority:

1. To PQ, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To ZQ, until retired

S-5

3. To PQ, without regard to its Scheduled Principal Balance, until retired

� The Subgroup 1B Principal Distribution Amount and the ZG Accrual Amount in the following order of priority:

1. To PM, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To ZG, until retired

3. To PM, without regard to its Scheduled Principal Balance, until retired

SECURITY GROUP 2

The Group 2 Principal Distribution Amount and the ZA Accrual Amount will be allocated in the following order of priority:

1. To P, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To ZA, until retired

3. To P, without regards to its Scheduled Principal Balance, until retired

SECURITY GROUP 3

The Subgroup 3A Principal Distribution Amount and the Subgroup 3B Principal Distribution Amount will be allocated as follows:

� The Subgroup 3A Principal Distribution Amount will be allocated, concurrently, to DA and FA, pro rata, until retired

� The Subgroup 3B Principal Distribution Amount will be allocated to DB, until retired

SECURITY GROUP 4

The Group 4 Principal Distribution Amount and the CZ Accrual Amount will be allocated in the following order of priority:

1. Concurrently, to CA and CB, pro rata, until reduced to their Aggregate Scheduled Principal Bal-ance for that Distribution Date

2. To CZ, until retired

3. Concurrently, to CA and CB, pro rata, without regards to their Aggregate Scheduled Principal Balance, until retired

SECURITY GROUP 5

The Group 5 Principal Distribution Amount and the ZC Accrual Amount will be allocated in the following order of priority:

1. Concurrently, to CM and CN, pro rata, until reduced to their Aggregate Scheduled Principal Balance for that Distribution Date

2. To ZC, until retired

3. Concurrently, to CM and CN, pro rata, without regards to their Aggregate Scheduled Principal Balance, until retired

S-6

SECURITY GROUP 6

The Group 6 Principal Distribution Amount and the QZ Accrual Amount will be allocated in the following order of priority:

1. To QP, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To QZ, until retired

3. To QP, without regards to its Scheduled Principal Balance, until retired

SECURITY GROUP 7

The Group 7 Principal Distribution Amount and the ZH Accrual Amount will be allocated in the following order of priority:

1. To CH, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To ZH, until retired

3. To CH, without regards to its Scheduled Principal Balance, until retired

SECURITY GROUP 8

The Subgroup 8A Principal Distribution Amount, the Subgroup 8B Principal Distribution Amount, the JZ Accrual Amount and the ZJ Accrual Amount will be allocated as follows:

� The Subgroup 8A Principal Distribution Amount and the JZ Accrual Amount in the following order of priority:

1. To JA, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To JZ, until retired

3. To JA, without regard to its Scheduled Principal Balance, until retired

� The Subgroup 8B Principal Distribution Amount and the ZJ Accrual Amount in the following order of priority:

1. To AJ, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To ZJ, until retired

3. To AJ, without regard to its Scheduled Principal Balance, until retired

SECURITY GROUP 9

The Subgroup 9A Principal Distribution Amount, the Subgroup 9B Principal Distribution Amount, the BZ Accrual Amount and the ZB Accrual Amount will be allocated as follows:

� The Subgroup 9A Principal Distribution Amount and the BZ Accrual Amount in the following order of priority:

1. To GA, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To BZ, until retired

3. To GA, without regard to its Scheduled Principal Balance, until retired

S-7

� The Subgroup 9B Principal Distribution Amount and the ZB Accrual Amount in the following order of priority:

1. To GB, until reduced to its Scheduled Principal Balance for that Distribution Date

2. To ZB, until retired

3. To GB, without regard to its Scheduled Principal Balance, until retired

SECURITY GROUP 10

The Group 10 Principal Distribution Amount will be allocated, concurrently, to KA and KF, pro rata, until retired

SECURITY GROUP 11

The Group 11 Principal Distribution Amount and the EZ Accrual Amount will be allocated as fol-lows:

� 60.0000001839% of the Group 11 Principal Distribution Amount and the EZ Accrual Amount in the following order of priority:

1. Sequentially, to EA and EB, in that order, until reduced to their Aggregate Scheduled Princi-pal Balance for that Distribution Date

2. To EZ, until retired

3. Sequentially, to EA and EB, in that order, without regard to their Aggregate Scheduled Prin-cipal Balance, until retired

� 39.9999998161% of the Group 11 Principal Distribution Amount to EF, until retired

Scheduled Principal Balances: The Scheduled Principal Balances or Aggregate Scheduled Principal Balances for the Class or Classes listed below are included in Schedule II to this Supplement. They were calculated using among other things the following Structuring Ranges:

Security Group Structuring Ranges

PAC Classes 1 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350% PSA through 430% PSA 1 PQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350% PSA through 430% PSA 2 P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200% PSA through 300% PSA 4 CA and CB (in the aggregate) . . . . . . . . . . . . . . . . . . . . . . . . . 175% PSA through 250% PSA 5 CM and CN (in the aggregate) . . . . . . . . . . . . . . . . . . . . . . . . 175% PSA through 250% PSA 6 QP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 255% PSA 7 CH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175% PSA through 250% PSA 8 AJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 8 JA* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 9 GA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 9 GB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 11 EA and EB (in the aggregate) . . . . . . . . . . . . . . . . . . . . . . . . . 160% PSA through 355% PSA

* The initial Effective Range is 204% PSA through 325% PSA.

Accrual Classes: Interest will accrue on each Accrual Class identified on the front cover of this Supplement at the per annum rate set forth on that page. However, no interest will be distributed to the

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Accrual Classes as interest. Interest so accrued on each Accrual Class on each Distribution Date will constitute an Accrual Amount, which will be added to the Class Principal Balance of that Class on each Distribution Date and will be distributable as principal as set forth in this Terms Sheet under “Allocation of Principal.”

Notional Classes: The Notional Classes will not receive distributions of principal but have Class Notional Balances for convenience in describing their entitlements to interest. The Class Notional Bal-ance of each Notional Class represents the percentage indicated below of, and reduces to that extent with, the Class Principal Balances or the outstanding principal balance of the related Trust Asset Group or Subgroup indicated:

Original Class Class Notional Balance Represents Approximately

Security Group 1 AI . . . . . . . . . . . . . $ 76,969,920 71.4285714286% of PQ (PAC/AD Class) BI . . . . . . . . . . . . . 139,687,287 71.4285714286% of PM (PAC/AD Class) PI . . . . . . . . . . . . . . 216,657,207 71.4285714286% of PM and PQ (in the aggregate) (PAC/AD Classes) Security Group 3 DI . . . . . . . . . . . . . $ 16,729,626 58.3333333333% of DB (PT Class) SA . . . . . . . . . . . . . 35,660,319 100% of FA (PT Class) Security Group 5 CI . . . . . . . . . . . . . $ 1,221,208 14.2857142857% the Group 5 Trust Assets Security Group 8 JI . . . . . . . . . . . . . . $ 1,587,318 3.3333333333% of the Subgroup 8A Trust Assets Security Group 9 GI . . . . . . . . . . . . . $ 4,702,604 28.5714285714% of the Subgroup 9B Trust Assets Security Group 10 KI . . . . . . . . . . . . . $ 4,723,065 7.1428571429% of KA (PT Class) KS . . . . . . . . . . . . 49,592,185 100% of KF (PT Class) Security Group 11 EI . . . . . . . . . . . . . . $ 7,089,285 14.2857142857% of EA and EB (in the aggregate) (PAC/AD Classes) ES . . . . . . . . . . . . . 25,200,000 40% of the Subgroup 11A Trust Assets S . . . . . . . . . . . . . . 43,500,341 100% of EF (PT Class) SE . . . . . . . . . . . . . 18,300,341 40% of the Subgroup 11B Trust Assets

Tax Status: Single REMIC Series as to the Group 1 Trust Assets (the “Group 1 REMIC”), the Group 2 Trust Assets (the “Group 2 REMIC”), the Group 3 Trust Assets (the “Group 3 REMIC”), the Group 4 Trust Assets (the “Group 4 REMIC”), the Group 5 Trust Assets (the “Group 5 REMIC”), the Group 6 Trust Assets (the “Group 6 REMIC”), the Group 7 Trust Assets (the “Group 7 REMIC”), the Group 8 Trust Assets (the “Group 8 REMIC”), the Group 9 Trust Assets (the “Group 9 REMIC”) and the Group 10 Trust Assets (the “Group 10 REMIC”). Double REMIC Series as to the Group 11 Trust Assets. Separate REMIC elections will be made as to the Group 1 REMIC, as to the Group 2 REMIC, as to the Group 3 REMIC, as to the Group 4 REMIC, as to the Group 5 REMIC, as to the Group 6 REMIC, as to the Group 7 REMIC, as to the Group 8 REMIC, as to the Group 9 REMIC, as to the Group 10 REMIC and as to the Issuing REMIC and the Pooling REMIC with respect to the Group 11 Trust Assets (the “Group 11 Issuing REMIC” and the “Group 11 Pooling REMIC,” respectively). See “Certain United States Federal Income Tax Con-sequences” in this Supplement and in the Base Offering Circular.

Regular and Residual Classes: Classes R1, R2, R3, R4, R5, R6, R7, R8, R9, R10 and RR11 are Residual Classes. Class R1 represents the Residual Interest of the Group 1 REMIC. Class R2 represents the

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Residual Interest of the Group 2 REMIC. Class R3 represents the Residual Interest of the Group 3 REMIC. Class R4 represents the Residual Interest of the Group 4 REMIC. Class R5 represents the Residual Interest of the Group 5 REMIC. Class R6 represents the Residual Interest of the Group 6 REMIC. Class R7 repre-sents the Residual Interest of the Group 7 REMIC. Class R8 represents the Residual Interest of the Group 8 REMIC. Class R9 represents the Residual Interest of the Group 9 REMIC. Class R10 represents the Residual Interest of the Group 10 REMIC. Class RR11 represents the Residual Interest of the Group 11 Issuing and Pooling REMICs. All other Classes of REMIC Securities are Regular Classes.

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RISK FACTORS

You should purchase securities only if you understand and are able to bear the associated risks. The risks applicable to your investment depend on the principal and interest type of your securities. This sec-tion highlights certain of these risks.

The rate of principal payments on the underlying mortgage loans will affect the rate of principal payments on your securities. The rate at which you will receive principal payments will depend largely on the rate of principal payments, including prepay-ments, on the mortgage loans underlying the related trust assets. Any historical data regarding mortgage loan prepayment rates may not be indicative of the rate of future prepayments on the underlying mortgage loans, and no assur-ances can be given about the rates at which the underlying mortgage loans will prepay. We expect the rate of principal payments on the underlying mortgage loans to vary. Borrowers generally may prepay their mortgage loans at any time without penalty.

The terms of the mortgage loans may be modi-fied to permit, among other things, a partial release of security, which releases a portion of the mortgaged property from the lien securing the related mortgage loan. Partial releases of security may reduce the value of the remaining security and also allow the related borrower to sell the released property and generate proceeds that may be used to prepay the related mortgage loan in whole or in part.

In addition to voluntary prepayments, mortgage loans can be prepaid as a result of governmental mortgage insurance claim payments, loss miti-gation arrangements, repurchases or liquidations of defaulted mortgage loans. Although under certain circumstances Ginnie Mae issuers have the option to repurchase defaulted mortgage loans from the related pool underlying a Ginnie Mae MBS certificate, they are not obligated to do so. Defaulted mortgage loans that remain in pools backing Ginnie Mae MBS certificates may be subject to governmental mortgage insurance claim payments, loss mitigation arrangements or foreclosure, which could have the same effect as voluntary prepayments on the cash flow avail-able to pay the securities.

A catastrophic weather event, pandemic or other natural disaster may affect the rate of principal payments, including prepayments, on the under-lying mortgage loans. Any such event may damage the related mortgaged properties that secure the mortgage loans or may lead to a general economic downturn in the affected regions, including job losses and declines in real estate values. A general economic downturn may increase the rate of defaults on the mortgage loans in such areas resulting in prepayments on the related securities due to governmental mort-gage insurance claim payments, loss mitigation arrangements, repurchases or liquidations of defaulted mortgage loans. Insurance payments on damaged or destroyed homes may also lead to prepayments on the underlying mortgage loans. Further, in connection with presidentially declared major disasters, Ginnie Mae may authorize optional special assistance to issuers, including expanded buyout authority which allows issuers, upon receiving written approval from Ginnie Mae, to repurchase eligible loans from the related pool underlying a Ginnie Mae MBS certificate, even if such loans are not delin-quent or do not otherwise meet the standard conditions for removal or repurchase.

No assurances can be given as to the timing or frequency of any governmental mortgage insurance claim payments, issuer repurchases, loss mitigation arrangements or foreclosure pro-ceedings with respect to defaulted mortgage loans and the resulting effect on the timing or rate of principal payments on your securities.

Rates of principal payments can reduce your yield. The yield on your securities prob-ably will be lower than you expect if:

� you bought your securities at a premium (interest only securities, for example) and principal payments are faster than you expected, or

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� you bought your securities at a discount and principal payments are slower than you expected.

In addition, if your securities are interest only securities or securities purchased at a significant premium, you could lose money on your investment if prepayments occur at a rapid rate.

Under certain circumstances, a Ginnie Mae issuer has the right to repurchase a defaulted mortgage loan from the related pool of mortgage loans underlying a particular Ginnie Mae MBS certificate, the effect of which would be comparable to a prepayment of such mortgage loan. At its option and without Ginnie Mae’s prior consent, a Ginnie Mae issuer may repurchase any mortgage loan at an amount equal to par less any amounts previously advanced by such issuer in con-nection with its responsibilities as servicer of such mortgage loan to the extent that (i) in the case of a mortgage loan included in a pool of mortgage loans underlying a Ginnie Mae MBS certificate issued on or before December 1, 2002, such mortgage loan has been delinquent for four consecutive months, and at least one delinquent payment remains uncured or (ii) in the case of a mortgage loan included in a pool of mortgage loans underlying a Ginnie Mae MBS certificate issued on or after January 1, 2003, no payment has been made on such mortgage loan for three consecutive months. Any such repurchase will result in prepayment of the principal balance or reduction in the notional balance of the securities ultimately backed by such mortgage loan. No assurances can be given as to the timing or fre-quency of any such repurchases.

The levels of LIBOR will affect the yields on floating rate and inverse floating rate securities. If LIBOR performs differently from what you expect, the yield on the floating rate and inverse floating rate securities may be lower than you expect. Lower levels of LIBOR will generally reduce the yield on floating rate secu-rities; higher levels of LIBOR will generally reduce the yield on inverse floating rate secu-rities. You should bear in mind that the timing of changes in the level of LIBOR may affect your

yield: generally, the earlier a change, the greater the effect on your yield. It is doubtful that LIBOR will remain constant.

An investment in the securities is subject to significant reinvestment risk. The rate of principal payments on your securities is uncertain. You may be unable to reinvest the payments on your securities at the same returns provided by the securities. Lower prevailing interest rates may result in an unexpected return of principal. In that interest rate climate, higher yielding reinvestment opportunities may be lim-ited. Conversely, higher prevailing interest rates may result in slower returns of principal, and you may not be able to take advantage of higher yielding investment opportunities. The final payment on your security may occur much ear-lier than the final distribution date.

Support securities will be more sensitive to rates of principal payments than other securities. If principal prepayments result in principal distributions on any distribution date equal to or less than the amount needed to produce scheduled payments on the PAC classes, the related support class will not receive any principal distribution on that date. If prepay-ments result in principal distributions on any distribution date greater than the amount needed to produce scheduled payments on the PAC classes for that distribution date, this excess will be distributed to the related support class.

The rate of payments on the underlying cer-tificates will directly affect the rate of payments on the group 4, 6, 7, 8 and 9 securities. The underlying certificates will be sensitive in varying degrees to:

� the rate of payments of principal (including prepayments) of the related mortgage loans, and

� the priorities for the distribution of principal among the classes of the related underlying series.

As described in the related underlying certificate disclosure documents, the principal entitlements of the underlying certificates included in trust

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asset groups 4 and 7 and subgroup 8A on any payment date are calculated, directly or indirectly, on the basis of schedules; no assur-ance can be given that the underlying certificates will adhere to their schedules. Further, prepay-ments on the related mortgage loans may have occurred at rates faster or slower than those ini-tially assumed.

This supplement contains no information as to whether the underlying certificates have adhered to any applicable principal balance schedules, whether any related supporting classes remain outstanding or whether the underlying certifi-cates otherwise have performed as originally anticipated. Additional information as to the underlying certificates may be obtained by per-forming an analysis of current principal factors of the underlying certificates in light of applicable information contained in the related underlying certificate disclosure documents.

Up to 10% of the mortgage loans underlying the group 1, 3, 5, 10 and 11 and up to 100% of the mortgage loans underlying the group 2, 4, 6 , 7, 8 and 9 trust assets may be higher balance mortgage loans. Subject to special pooling parameters set forth in the Ginnie Mae Mortgage-Backed Securities Guide, qualify-ing federally-insured or guaranteed mortgage loans that exceed certain balance thresholds established by Ginnie Mae (“higher balance mortgage loans”) may be included in Ginnie Mae guaranteed pools. There are no historical per-formance data regarding the prepayment rates for higher balance mortgage loans. If the higher balance mortgage loans prepay faster or slower than expected, the weighted average lives and yields of the related securities are likely to be affected, perhaps significantly. Furthermore, higher balance mortgage loans tend to be con-centrated in certain geographic areas, which may experience relatively higher rates of defaults in the event of adverse economic conditions. No assurances can be given about the prepayment experience or performance of the higher balance mortgage loans.

Changes to, the elimination of, and uncertainty with respect to, LIBOR could

adversely affect your investment in LIBOR Classes. On July 27, 2017, the U.K.-based Financial Conduct Authority (the “FCA”) announced its intention to cease sustaining LIBOR after 2021. The FCA indicated that it does not intend to sustain LIBOR through using its influence or legal powers beyond that date. It is possible that the ICE Benchmark Administration (“ICE”) and the reference banks could continue to produce LIBOR on the current basis after 2021, if they are willing and able to do so, but it cannot be predicted or assured whether LIBOR will survive in its current form, a modified form, or at all. If LIBOR changes in a manner that causes regulators or market participants to ques-tion LIBOR’s continued viability as a benchmark, or if LIBOR becomes unavailable, investors in financial instruments linked to LIBOR will likely experience disparate outcomes based on relevant contractual terms, market or product type, juris-diction, and a host of other factors. There can be no assurance that legislative or regulatory actions will provide for an effective LIBOR substitute or replacement or that broadly accepted industry practices regarding LIBOR cessation will develop. It is uncertain what effect such disparate out-comes or divergent industry practices will have on the performance or value of securities with an interest rate based on LIBOR (“LIBOR Classes”).

In the event of a benchmark transition event with respect to LIBOR, Ginnie Mae will select an alternative index for LIBOR Classes in accord-ance with the ARRC Endorsed Terms, as described under “Description of the Securities — Interest Rate Indices — Determination of LIBOR” in the base offering circular. The ARRC Endorsed Terms, however, generally rely on actions to be taken by regulators or the Alternative Reference Rates Committee (“ARRC”) convened by the Federal Reserve Board and the Federal Reserve Bank of New York, and there can be no assur-ance whether or when those actions will be taken. Further, there can be no assurance that those actions or related events will be sufficient to trigger a change from LIBOR to an alternative index in all circumstances where LIBOR is no longer representative of market interest rates, or that benchmark transition events for the LIBOR Classes will align with similar events in the

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market generally or in other parts of the financial markets, such as the derivatives market.

The ARRC Endorsed Terms provide for various alternative benchmarks based on availability: the first two alternatives involve the secured over-night financing rate (“SOFR”) published by the Federal Reserve Bank of New York, and the last two alternatives are not currently specified. SOFR is a secured, risk-free rate that is calculated based on different criteria than LIBOR, which is an unsecured rate reflecting counterparty risk. Accordingly, SOFR and LIBOR may diverge, par-ticularly in times of macroeconomic stress. Since the initial publication of SOFR in April 2018, daily changes in SOFR have at times been more volatile than daily changes in comparable benchmark or market rates. Over the lives of the LIBOR Classes, SOFR may diverge from historical or indicative data. Term SOFR, which is the first alternative benchmark, is expected to be a pro-spective term rate based on SOFR. Term SOFR is currently in development and no assurance can be provided that its development will be com-pleted. If term SOFR is unavailable as of the benchmark replacement date, as defined in the base offering circular under “Description of the Securities — Interest Rate Indices — Determi-nation of LIBOR”, the next alternative benchmark is compounded SOFR. Compounded SOFR is a compounded average for which there are multi-ple methodologies, which may also diverge from LIBOR. If a benchmark replacement other than term SOFR is chosen because term SOFR is not initially available, term SOFR will become the benchmark replacement if it later becomes avail-able, which could lead to further volatility in the interest rates on the LIBOR Classes. Moreover, a benchmark replacement adjustment will be applied to compensate for the foregoing effects of any benchmark replacement. However, no assurance can be provided that any benchmark replacement adjustment will be sufficient to produce the economic equivalent of the then-current benchmark, either at the benchmark replacement date or over the lives of the LIBOR Classes. Additionally, Ginnie Mae cannot antici-pate how long it will take to develop the systems and processes necessary to adopt a specific benchmark replacement, which may delay and

contribute to uncertainty and volatility surround-ing any benchmark transition for LIBOR Classes.

Ginnie Mae will have sole discretion with respect to certain elements of the benchmark replacement process, including determining whether a benchmark transition event and its related benchmark replacement date have occurred, determining which benchmark replacement is available, determining the earliest practicable index determination date for using the benchmark replacement, selecting a benchmark replacement in the event term SOFR or compounded SOFR is unavailable, determining benchmark replacement adjustments (if not otherwise determined by applicable governing bodies or authorities) and making benchmark replacement conforming changes (including potential changes affecting the business day convention and index determination date). If Ginnie Mae, in its sole discretion, determines that an alternative index is not admin-istratively feasible, including as a result of techni-cal, administrative or operational issues, then such alternative index will be deemed not determinable as of such date. Ginnie Mae may determine an alternative not to be administratively feasible even if such alternative index has been adopted by other market participants in similar products. Fur-thermore, if Ginnie Mae does not select an alter-native index on any date as a result of its determination that an alternative higher on the list of ARRC Endorsed Terms is not administratively feasible as of such date and such higher alter-native subsequently becomes administratively feasible (as determined by Ginnie Mae in its sole discretion), then Ginnie Mae may elect to replace the previously selected alternative with such higher alternative. Any of the foregoing determi-nations will be at the sole discretion of Ginnie Mae and may adversely affect the return on LIBOR Classes, the trading market for such classes and the value of such classes. None of the fore-going determinations, or the application thereof to payment calculations on the LIBOR Classes, will be subject to the approval of security holders.

Notwithstanding the foregoing, Ginnie Mae will select only an alternative index as to which it and the trustee will receive an opinion of

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counsel that the selection of such alternative index will not cause any related Trust REMIC to lose its classification as a REMIC for United States federal income tax purposes.

The securities may not be a suitable invest-ment for you. The securities, especially the group 4, 6, 7, 8 and 9 securities and, in partic-ular, the support, interest only, accrual and residual classes, are not suitable investments for all investors.

In addition, although the sponsor intends to make a market for the purchase and sale of the secu-rities after their initial issuance, it has no obligation to do so. There is no assurance that a secondary market will develop, that any secondary market will continue, or that the price at which you can sell an investment in any class will enable you to realize a desired yield on that investment.

You will bear the market risks of your invest-ment. The market values of the classes are likely to fluctuate. These fluctuations may be significant and could result in significant losses to you.

The secondary markets for mortgage-related securities have experienced periods of illiquidity and can be expected to do so in the future. Illi-quidity can have a severely adverse effect on the prices of classes that are especially sensitive to prepayment or interest rate risk or that have been structured to meet the investment require-ments of limited categories of investors.

The residual securities may experience significant adverse tax timing consequences. Accordingly, you are urged to consult tax advisors and to consider the after-tax effect of ownership of a residual security and the suitability of the residual securities to your investment objectives. See “Certain United States Federal Income Tax Con-sequences” in this supplement and in the base offering circular.

You are encouraged to consult advisors regard-ing the financial, legal, tax and other aspects of an investment in the securities. You should not purchase the securities of any class unless you understand and are able to bear the prepayment, yield, liquidity and market risks associated with that class.

The actual characteristics of the underlying mortgage loans will affect the weighted average lives and yields of your securities. The yield and decrement tables in this supple-ment are based on assumed characteristics which are likely to be different from the actual characteristics. As a result, the yields on your securities could be lower than you expected, even if the mortgage loans prepay at the constant pre-payment rates set forth in the applicable table.

It is highly unlikely that the underlying mortgage loans will prepay at any of the prepayment rates assumed in this supplement, or at any constant prepayment rate.

THE TRUST ASSETS

General

The Sponsor intends to acquire the Trust Assets in privately negotiated transactions prior to the Closing Date and to sell them to the Trust according to the terms of a Trust Agreement between the Sponsor and the Trustee. The Sponsor will make certain representations and warranties with respect to the Trust Assets. All Trust Assets, regardless of whether the assets consist of Trust MBS or the Underlying Certificates, will evidence, directly or indirectly, Ginnie Mae Certificates.

The Trust MBS (Groups 1, 2, 3, 5, 10 and 11 and Subgroup 9B)

The Trust MBS are either:

1. Ginnie Mae II MBS Certificates guaranteed by Ginnie Mae, or

2. Ginnie Mae Platinum Certificates backed by Ginnie Mae II MBS Certificates and guaranteed by Ginnie Mae.

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Each Mortgage Loan underlying a Ginnie Mae II MBS Certificate issued prior to July 1, 2003 bears interest at a Mortgage Rate 0.50% to 1.50% per annum greater than the related Certificate Rate. Each Mortgage Loan underlying a Ginnie Mae II MBS Certificate issued on or after July 1, 2003 bears interest at a Mortgage Rate 0.25% to 0.75% per annum greater than the related Certificate Rate. Ginnie Mae receives a fee (the “Ginnie Mae Certificate Guaranty Fee”) for its guaranty of each Ginnie Mae II MBS Certificate of 0.06% per annum of the outstanding principal balance of each related Mortgage Loan. The difference between (a) the Mortgage Rate and (b) the sum of the Certificate Rate and the rate of the Ginnie Mae Certificate Guar-anty Fee is used to pay the related servicers of the Mortgage Loans a monthly servicing fee.

The Underlying Certificates (Groups 4, 6, 7 and 8 and Subgroup 9A)

The Group 4, 6, 7 and 8 and Subgroup 9A Trust Assets are Underlying Certificates that represent beneficial ownership interests in one or more separate trusts, the assets of which evidence direct or indirect beneficial ownership interests in certain Ginnie Mae Certificates. Each Underlying Certificate constitutes all or a portion of a class of a separate Series of certificates described in the related Under-lying Certificate Disclosure Document. Each Underlying Certificate Disclosure Document may be obtained from the Information Agent as described under “Available Information” in this Supplement or on ginniemae.gov. Investors are cautioned that material changes in facts and circumstances may have occurred since the date of each Underlying Certificate Disclosure Document, including changes in pre-payment rates, prevailing interest rates and other economic factors, which may limit the usefulness of, and be directly contrary to the assumptions used in preparing the information included in, the offering document. See “Underlying Certificates” in the Base Offering Circular.

Each Underlying Certificate provides for monthly distributions and is further described in the table contained in Exhibit A to this Supplement.

The Mortgage Loans

The Mortgage Loans underlying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B Trust Assets are expected to have, on a weighted average basis, the characteristics set forth in the Terms Sheet under “Assumed Characteristics of the Mortgage Loans Underlying the Group 1, 2, 3, 5, 10 and 11 and Sub-group 9B Trust Assets” and the general characteristics described in the Base Offering Circular. The Mortgage Loans will consist of first lien, single-family, fixed rate, residential mortgage loans that are insured or guaranteed by the Federal Housing Administration, the United States Department of Veterans Affairs, Rural Development (formerly the Rural Housing Service) or the United States Department of Housing and Urban Development (“HUD”). See “The Ginnie Mae Certificates — General” in the Base Offering Circular.

Specific information regarding the characteristics of the Mortgage Loans underlying the Trust MBS is not available. For purposes of this Supplement, certain assumptions have been made regarding the remaining terms to maturity, loan ages and Mortgage Rates of the Mortgage Loans underlying the Trust MBS. However, the actual remaining terms to maturity, loan ages and Mortgage Rates of many of the Mortgage Loans will differ from the characteristics assumed, perhaps significantly. This will be the case even if the weighted average characteristics of the Mortgage Loans are the same as the assumed charac-teristics. Small differences in the characteristics of the Mortgage Loans can have a significant effect on the Weighted Average Lives and yields of the Securities. See “Risk Factors” and “Yield, Maturity and Prepayment Considerations” in this Supplement.

The Trustee Fee

The Sponsor will contribute certain Ginnie Mae Certificates in respect of the Trustee Fee. On each Distribution Date, the Trustee will retain all principal and interest distributions received on such Ginnie Mae Certificates in payment of the Trustee Fee.

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GINNIE MAE GUARANTY

The Government National Mortgage Association (“Ginnie Mae”), a wholly-owned corporate instrumentality of the United States of America within HUD, guarantees the timely payment of principal and interest on the Securities. The General Counsel of HUD has provided an opinion to the effect that Ginnie Mae has the authority to guarantee multiclass securities and that Ginnie Mae guaranties will con-stitute general obligations of the United States, for which the full faith and credit of the United States is pledged. See “Ginnie Mae Guaranty” in the Base Offering Circular.

DESCRIPTION OF THE SECURITIES

General

The description of the Securities contained in this Supplement is not complete and is subject to, and is qualified in its entirety by reference to, all of the provisions of the Trust Agreement. See “Description of the Securities” in the Base Offering Circular.

Form of Securities

Each Class of Securities other than the Residual Securities initially will be issued and maintained, and may be transferred only on the Fedwire Book-Entry System. Beneficial Owners of Book-Entry Secu-rities will ordinarily hold these Securities through one or more financial intermediaries, such as banks, brokerage firms and securities clearing organizations that are eligible to maintain book-entry accounts on the Fedwire Book-Entry System. By request accompanied by the payment of a transfer fee of $25,000 per Certificated Security to be issued, a Beneficial Owner may receive a Regular Security in certificated form.

The Residual Securities will not be issued in book-entry form but will be issued in fully registered, certificated form and may be transferred or exchanged, subject to the transfer restrictions applicable to Residual Securities set forth in the Trust Agreement, at the Corporate Trust Office of the Trustee. See “Description of the Securities — Forms of Securities; Book-Entry Procedures” in the Base Offering Circu-lar.

Each Regular and MX Class (other than the Increased Minimum Denomination Classes) will be issued in minimum dollar denominations of initial principal balance of $1,000 and integral multiples of $1 in excess of $1,000. The Increased Minimum Denomination Classes will be issued in minimum denominations that equal $100,000 in initial notional balance.

Distributions

Distributions on the Securities will be made on each Distribution Date as specified under “Terms Sheet — Distribution Date” in this Supplement. On each Distribution Date for a Security, or in the case of the Certificated Securities, on the first Business Day after the related Distribution Date, the Dis-tribution Amount will be distributed to the Holders of record as of the related Record Date. Beneficial Owners of Book-Entry Securities will receive distributions through credits to accounts maintained for their benefit on the books and records of the appropriate financial intermediaries. Holders of Certifi-cated Securities will receive distributions by check or, subject to the restrictions set forth in the Base Offering Circular, by wire transfer. See “Description of the Securities — Distributions” and “— Method of Distributions” in the Base Offering Circular.

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Interest Distributions

The Interest Distribution Amount will be distributed on each Distribution Date to the Holders of all Classes of Securities entitled to distributions of interest.

� Interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months.

� Interest distributable (or accrued in the case of an Accrual Class) on any Class for any Dis-tribution Date will consist of 30 days’ interest on its Class Principal Balance (or Class Notional Balance) as of the related Record Date.

� Investors can calculate the amount of interest to be distributed (or accrued in the case of an Accrual Class) on each Class of Securities for any Distribution Date by using the Class Factors published in the preceding month. See “— Class Factors” below.

Categories of Classes

For purposes of interest distributions, the Classes will be categorized as shown under “Interest Type” on the front cover of this Supplement and on Schedule I to this Supplement. The abbreviations used in this Supplement to describe the interest entitlements of the Classes are explained under “Class Types” in Appendix I to the Base Offering Circular.

Accrual Periods

The Accrual Period for each Regular and MX Class is set forth in the table below:

Class Accrual Period

Fixed Rate and Delay Classes The calendar month preceding the related Distribution Date

Floating Rate and Inverse From the 20th day of the month preceding the month of the related Floating Rate Classes Distribution Date through the 19th day of the month of that

Distribution Date

Fixed Rate Classes

Each Fixed Rate Class will bear interest at the per annum Interest Rate shown on the front cover of this Supplement or on Schedule I to this Supplement.

Floating Rate and Inverse Floating Rate Classes

The Floating Rate and Inverse Floating Rate Classes will bear interest as shown under “Terms Sheet — Interest Rates” in this Supplement. The Interest Rates for the Floating Rate and Inverse Floating Rate Classes will be based on LIBOR. The Trustee or its agent will determine LIBOR on the basis of the ICE LIBOR method, as described under “Description of the Securities — Interest Rate Indices — Determination of LIBOR” in the Base Offering Circular.

We can provide no assurance that LIBOR for a Distribution Date accurately represents the offered rate at which one-month U.S. dollar deposits are being quoted to prime banks in the London interbank market, nor that the procedures for calculating LIBOR on the basis of the ICE LIBOR method for one-month U.S. dollar deposits will not change. Any change in LIBOR values resulting from any change in reporting or in the determination of LIBOR may cause LIBOR to fluctuate disproportionately to changes in other market lending rates. If LIBOR becomes unavailable, a replacement rate will be selected, as described under “Description of the Securities — Interest Rate Indices —Determination of LIBOR” in the Base Offering Circular.

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Weighted Average Coupon Class

The Weighted Average Coupon Class will bear interest as shown under “Terms Sheet — Interest Rates” in this Supplement.

The Trustee’s determination of LIBOR and its calculation of the Interest Rates will be final except in the case of clear error. Investors can obtain LIBOR levels and Interest Rates for the current and preced-ing Accrual Periods on ginniemae.gov or by calling the Information Agent at (800) 234-GNMA.

Accrual Classes

Each of Classes BZ, CZ, EZ, JZ, QZ, ZA, ZB, ZC, ZG, ZH, ZJ and ZQ is an Accrual Class. Interest will accrue on the Accrual Classes and be distributed as described under “Terms Sheet — Accrual Classes” in this Supplement.

Principal Distributions

The Principal Distribution Amount for each Group or Subgroup, as applicable, and each Accrual Amount will be distributed to the Holders entitled thereto as described under “Terms Sheet — Alloca-tion of Principal” in this Supplement. Investors can calculate the amount of principal to be distributed with respect to any Distribution Date by using the Class Factors published in the preceding and current months. See “— Class Factors” below.

Categories of Classes

For purposes of principal distributions, the Classes will be categorized as shown under “Principal Type” on the front cover of this Supplement and on Schedule I to this Supplement. The abbreviations used in this Supplement to describe the principal entitlements of the Classes are explained under “Class Types” in Appendix I to the Base Offering Circular.

Notional Classes

The Notional Classes will not receive principal distributions. For convenience in describing interest distributions, the Notional Classes will have the original Class Notional Balances shown on the front cover of this Supplement and on Schedule I to this Supplement. The Class Notional Balances will be reduced as shown under “Terms Sheet — Notional Classes” in this Supplement.

Residual Securities

The Class R1 Securities, Class R2 Securities, Class R3 Securities, Class R4 Securities, Class R5 Secu-rities, Class R6 Securities, Class R7 Securities, Class R8 Securities, Class R9 Securities and Class R10 Secu-rities will represent the beneficial ownership of the Residual Interest in the Group 1 REMIC, Group 2 REMIC, Group 3 REMIC, Group 4 REMIC, Group 5 REMIC, Group 6 REMIC, Group 7 REMIC, Group 8 REMIC, Group 9 REMIC and Group 10 REMIC, respectively, as described in “Certain United States Federal Income Tax Consequences” in the Base Offering Circular. The Class RR11 Securities will repre-sent the beneficial ownership of the Residual Interest in the Group 11 Issuing REMIC and the beneficial ownership of the Residual Interest in the Group 11 Pooling REMIC, as described in “Certain United States Federal Income Tax Consequences” in the Base Offering Circular. The Class R1, R2, R3, R4, R5, R6, R7, R8, R9, R10 and RR11 Securities have no Class Principal Balance and do not accrue interest. The Class R1, R2, R3, R4, R5, R6, R7, R8, R9, R10 and RR11 Securities will be entitled to receive the proceeds of the disposition of any assets remaining in the related Trust REMIC or Trust REMICs, as applicable, after the Class Principal Balance or Class Notional Balance of each Class of Regular Securities in the related Security Group has been reduced to zero. However, any remaining proceeds are not likely to be significant. The Residual Securities may not be transferred to a Plan Investor, a Non-U.S. Person or a Disqualified Organization.

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Class Factors

The Trustee will calculate and make available for each Class of Securities, no later than the day preceding the Distribution Date, the factor (carried out to eight decimal places) that when multiplied by the Original Class Principal Balance (or original Class Notional Balance) of that Class, determines the Class Principal Balance (or Class Notional Balance) after giving effect to the distribution of principal to be made on the Securities (and any addition to the Class Principal Balance of an Accrual Class) or any reduction of Class Notional Balance on that Distribution Date (each, a “Class Factor”).

� The Class Factor for any Class of Securities for each month following the issuance of the Secu-rities will reflect its remaining Class Principal Balance (or Class Notional Balance) after giving effect to any principal distribution (or addition to principal) to be made or any reduction of Class Notional Balance on the Distribution Date occurring in that month.

� The Class Factor for each Class for the month of issuance is 1.00000000.

� The Class Factors for the MX Classes and the Classes of REMIC Securities that are exchangeable for the MX Classes will be calculated assuming that the maximum possible amount of each Class is outstanding at all times, regardless of any exchanges that may occur.

� Based on the Class Factors published in the preceding and current months (and Interest Rates), investors in any Class (other than an Accrual Class) can calculate the amount of principal and interest to be distributed to that Class and investors in an Accrual Class can calculate the total amount of principal to be distributed to (or interest to be added to the Class Principal Balance of) that Class on the Distribution Date in the current month.

� Investors may obtain current Class Factors on ginniemae.gov.

See “Description of the Securities — Distributions” in the Base Offering Circular.

Termination

The Trustee, at its option, may purchase or cause the sale of the Trust Assets and thereby terminate the Trust on any Distribution Date on which the aggregate of the Class Principal Balances of the Secu-rities is less than 1% of the aggregate Original Class Principal Balances of the Securities. On any Dis-tribution Date upon the Trustee’s determination that the REMIC status of any Trust REMIC has been lost or that a substantial risk exists that this status will be lost for the then current taxable year, the Trustee will terminate such Trust REMIC and any related Trust REMIC and retire the related Securities. For these purposes, the Trust REMICs and the Securities with corresponding numerical designations are related as follows:

Trust REMICs Related Securities

Group 1 REMIC Group 1 Securities Group 2 REMIC Group 2 Securities Group 3 REMIC Group 3 Securities Group 4 REMIC Group 4 Securities Group 5 REMIC Group 5 Securities Group 6 REMIC Group 6 Securities Group 7 REMIC Group 7 Securities Group 8 REMIC Group 8 Securities Group 9 REMIC Group 9 Securities Group 10 REMIC Group 10 Securities

Group 11 Issuing and Pooling REMICs Group 11 Securities

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Upon any termination of the Trust (or one or more related Trust REMICs), the Holder of any related outstanding Security (other than a Residual or Notional Class Security) will be entitled to receive that Holder’s allocable share of the Class Principal Balance of that Class plus any accrued and unpaid interest thereon at the applicable Interest Rate, and any Holder of any related outstanding Notional Class Secu-rity will be entitled to receive that Holder’s allocable share of any accrued and unpaid interest thereon at the applicable Interest Rate. The Residual Holders will be entitled to their pro rata share of any assets remaining in the related Trust REMIC or Trust REMICs, as applicable, after payment in full of the amounts described in the foregoing sentence. However, any remaining assets are not likely to be sig-nificant.

With respect to each of Security Groups 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11, a Holder of all of the outstanding Regular Securities of any such Security Group and the related Class of Residual Securities shall have the right to purchase the related Trust Assets upon three Business Days’ notice (the “Notice Period”). The purchase shall be for cash in an amount equal to (A)(i) the aggregate remaining principal balance of the assets of such Security Group, but in no event less than the aggregate outstanding principal amount of the Securities of such Security Group, plus (ii) accrued interest on the Securities of such Security Group, less (B) amounts on deposit in the related Trust REMIC or Trust REMICs, as appli-cable, for distribution on the Securities of such Security Group, plus (C) a $5,000 termination fee pay-able to the Trustee in connection with each Security Group to be terminated. After the Notice Period, and upon such purchase, the Trustee will terminate the related Trust REMIC or Trust REMICs, as appli-cable. Upon such termination, the Trustee will distribute the cash proceeds of the sale of the related Trust Assets to the Holder of the related Securities (which distribution may be offset against amounts due on the sale of such assets), will cancel the Securities of the related Security Group and cause the removal from the Book-Entry Depository Account of all Classes of the related Security Group, will can-cel the related Class of Residual Securities, and will credit the remaining Trust Assets in the related Secu-rity Group to the account of the surrendering Holder. Notwithstanding anything to the contrary contained herein, no such termination will be allowed unless the Trustee and Ginnie Mae are provided, at no cost to either the Trustee or Ginnie Mae, an Opinion of Counsel, acceptable to the Trustee and Ginnie Mae, to the effect that such termination constitutes a “qualified liquidation” under the REMIC Provisions, including Section 860F(a)(4) of the Code, and such termination will not result in a dis-qualification of any Trust REMIC that is not terminated at such time or the imposition of any “prohibited transactions” or “contributions” tax under the REMIC Provisions on any Trust REMIC that is not termi-nated at such time.

Modification and Exchange

All or a portion of the Classes of REMIC Securities specified on the front cover may be exchanged for a proportionate interest in the related MX Class or Classes shown on Schedule I to this Supplement. Similarly, all or a portion of the related MX Class or Classes may be exchanged for proportionate interests in the related Class or Classes of REMIC Securities and, in the case of Combinations 1, 2, 4, 5, 6, 7, 8, 9, 10 and 24, other related MX Classes. This process may occur repeatedly.

Each exchange may be effected only in proportions that result in the principal and interest entitle-ments of the Securities received being equal to the entitlements of the Securities surrendered.

In the case of Combinations 1 and 2, the related REMIC Securities may be exchanged for propor-tionate interests in various subcombinations of MX Classes. Similarly, all or a portion of these MX Classes may be exchanged for proportionate interests in the related REMIC Securities or in other sub-combinations of the related MX Classes. Each subcombination may be effected only in proportions that result in the principal and interest entitlements of the Securities received being equal to the entitlements

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of the Securities surrendered. See the example under “Description of the Securities — Modification and Exchange” in the Base Offering Circular.

A Beneficial Owner proposing to effect an exchange must notify the Trustee through the Beneficial Owner’s Book-Entry Depository participant. This notice must be received by the Trustee not later than two Business Days before the proposed exchange date. The exchange date can be any Business Day other than the last Business Day of the month. The notice must contain the outstanding principal and notional balances of the Securities to be included in the exchange and the proposed exchange date. The notice is required to be delivered to the Trustee by email to [email protected] or in writing at its Corporate Trust Office at U.S. Bank National Association, One Federal Street, 3rd Floor, Boston, MA 02110, Attention: Ginnie Mae REMIC Program Agency Group 2020-098. The Trustee may be contacted by telephone at (617) 603-6451 and by fax at (617) 603-6644.

1A fee will be payable to the Trustee in connection with each exchange equal to ⁄32 of 1% of the outstanding principal balance (or notional balance) of the Securities surrendered for exchange (but not less than $2,000 or more than $25,000); provided, however, that no fee will be payable in respect of an interest only security unless all securities involved in the exchange are interest only securities. The fee must be paid concurrently with the exchange.

The first distribution on a REMIC Security or an MX Security received in an exchange will be made on the Distribution Date in the month following the month of the exchange. The distribution will be made to the Holder of record as of the Record Date in the month of exchange.

See “Description of the Securities — Modification and Exchange” in the Base Offering Circular.

YIELD, MATURITY AND PREPAYMENT CONSIDERATIONS

General

The prepayment experience of the Mortgage Loans will affect the Weighted Average Lives of and the yields realized by investors in the related Securities.

� The Mortgage Loans do not contain “due-on-sale” provisions, and any Mortgage Loan may be prepaid in full or in part at any time without penalty.

� The rate of payments (including prepayments and payments in respect of liquidations) on the Mortgage Loans is dependent on a variety of economic, geographic, social and other factors, including prevailing market interest rates and general economic factors.

The rate of prepayments with respect to single-family mortgage loans has fluctuated significantly in recent years. Although there is no assurance that prepayment patterns for the Mortgage Loans will con-form to patterns for more traditional types of conventional fixed rate mortgage loans, generally:

� if mortgage interest rates fall materially below the Mortgage Rates on any of the Mortgage Loans (giving consideration to the cost of refinancing), the rate of prepayment of those Mortgage Loans would be expected to increase; and

� if mortgage interest rates rise materially above the Mortgage Rates on any of the Mortgage Loans, the rate of prepayment of those Mortgage Loans would be expected to decrease.

In addition, following any Mortgage Loan default and the subsequent liquidation of the underlying Mortgaged Property, the principal balance of the Mortgage Loan will be distributed through a combina-

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mailto:[email protected]

tion of liquidation proceeds, advances from the related Ginnie Mae Issuer and, to the extent necessary, proceeds of Ginnie Mae’s guaranty of the Ginnie Mae Certificates. As a result, defaults experienced on the Mortgage Loans will accelerate the distribution of principal of the Securities.

The terms of the Mortgage Loans may be modified to permit, among other things, a partial release of security, which releases a portion of the mortgaged property from the lien securing the related Mort-gage Loan. Partial releases of security may allow the related borrower to sell the released property and generate proceeds that may be used to prepay the related Mortgage Loan in whole or in part.

Under certain circumstances, the Trustee has the option to purchase the Trust Assets, thereby effect-ing early retirement of the Securities. See “Description of the Securities — Termination” in this Supplement.

Investors in the Group 4, 6, 7, 8 and 9 Securities are urged to review the discussion under “Risk Factors — The rate of payments on the underlying certificates will directly affect the rate of payments on the group 4, 6, 7, 8 and 9 securities” in this Supplement.

Accretion Directed Classes

Classes AJ, CA, CB, CH, CM, CN, EA, EB, GA, GB, JA, P, PM, PQ and QP are Accretion Directed Classes. The related Accrual Amounts will be applied to making principal distributions on those Classes as described in this Supplement. Class EI is a Notional Class whose Class Notional Balance is determined by reference to the Class Principal Balance of the related Accretion Directed Classes shown under “Terms Sheet — Notional Classes” in this Supplement.

Each of the Accretion Directed Classes has the AD designation in the suffix position, rather than the prefix position, in its class principal type because it does not have principal payment stability through the applicable pricing prepayment assumption. Although the Accretion Directed Classes are entitled to receive payments from the related Accrual Amounts, they do not have principal payment stability through any constant prepayment rate significantly higher than 0% PSA, except within their Effective Ranges.

Securities that Receive Principal on the Basis of Schedules

As described in this Supplement, each PAC Class will receive principal payments in accordance with a schedule calculated on the basis of, among other things, a Structuring Range. See “Terms Sheet — Scheduled Principal Balances.” However, whether any such Class will adhere to its schedule and receive “Scheduled Payments” on a Distribution Date will largely depend on the level of prepayments experienced by the related Mortgage Loans.

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Each PAC Class exhibits an Effective Range of constant prepayment rates at which such Class will receive Scheduled Payments. That range may differ from the Structuring Range used to create the related principal balance schedule. Based on the Modeling Assumptions, the initial Effective Ranges for the PAC Classes are as follows:

Security Group Initial Effective Ranges

PAC Classes 1 PM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350% PSA through 430% PSA 1 PQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350% PSA through 430% PSA 2 P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200% PSA through 300% PSA 4 CA and CB (in the aggregate) . . . . . . . . . . . . . . . . . . . . . . . . 175% PSA through 250% PSA 5 CM and CN (in the aggregate) . . . . . . . . . . . . . . . . . . . . . . . 175% PSA through 250% PSA 6 QP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 255% PSA 7 CH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175% PSA through 250% PSA 8 AJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 8 JA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204% PSA through 325% PSA 9 GA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 9 GB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA through 325% PSA 11 EA and EB (in the aggregate) . . . . . . . . . . . . . . . . . . . . . . . . 160% PSA through 355% PSA

� The principal payment stability of the PAC Classes will be supported by the related Support Class.

If the Class supporting a given Class is retired before the Class being supported is retired, the outstanding Class will no longer have an Effective Range and will become more sensitive to prepayments on the related Mortgage Loans.

There is no assurance that the related Mortgage Loans will have the characteristics assumed in the Modeling Assumptions, which were used to determine the initial Effective Ranges. If the initial Effective Ranges were calculated using the actual characteristics of the related Mortgage Loans, the initial Effective Ranges could differ from those shown in the above table. Therefore, even if the Mortgage Loans were to prepay at a constant rate within the initial Effective Range shown for any Class in the above table, that Class could fail to receive Scheduled Payments.

Moreover, the related Mortgage Loans will not prepay at any constant rate. Non-constant prepay-ment rates can cause any PAC Class not to receive Scheduled Payments, even if prepayment rates remain within the initial Effective Range for that Class. Further, the Effective Range for any PAC Class can narrow, shift over time or cease to exist depending on the actual characteristics of the related Mort-gage Loans.

If the related Mortgage Loans prepay at rates that are generally below the Effective Range for any PAC Class, the amount available to pay principal on the Securities may be insufficient to produce Scheduled Payments on such related PAC Class, and its Weighted Average Life may be extended, per-haps significantly.

If the related Mortgage Loans prepay at rates that are generally above the Effective Range for any PAC Class, its supporting Class may be retired earlier than that PAC Class, and its Weighted Average Life may be shortened, perhaps significantly.

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Assumability

Each Mortgage Loan may be assumed, subject to HUD review and approval, upon the sale of the related Mortgaged Property. See “Yield, Maturity and Prepayment Considerations — Assumability of Government Loans” in the Base Offering Circular.

Final Distribution Date

The Final Distribution Date for each Class, which is set forth on the front cover of this Supplement or on Schedule I to this Supplement, is the latest date on which the related Class Principal Balance or Class Notional Balance will be reduced to zero.

� The actual retirement of any Class may occur earlier than its Final Distribution Date.

� According to the terms of the Ginnie Mae Guaranty, Ginnie Mae will guarantee payment in full of the Class Principal Balance of each Class of Securities no later than its Final Distribution Date.

Modeling Assumptions

Unless otherwise indicated, the tables that follow have been prepared on the basis of the characteristics of the Underlying Certificates, the priorities of distributions on the Underlying Certificates and the following assumptions (the “Modeling Assumptions”), among others:

1. The Mortgage Loans underlying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B Trust Assets have the assumed characteristics shown under “Assumed Characteristics of the Mortgage Loans Under-lying the Group 1, 2, 3, 5, 10 and 11 and Subgroup 9B Trust Assets” in the Terms Sheet, except in the case of information set forth under the 0% PSA Prepayment Assumption Rate, for which each Mortgage Loan underlying a Group 1, 2, 3, 5, 10 or 11 or Subgroup 9B Trust Asset is assumed to have an original and a remaining term to maturity of 360 months and a Mortgage Rate of 1.50% per annum higher than the related Certificate Rate.

2. The Mortgage Loans prepay at the constant percentages of PSA (described below) shown in the related table.

3. Distributions on the Securities are always received on the 20th day of the month whether or not a Business Day, commencing in August 2020.

4. A termination of the Trust, any Trust REMIC or any Underlying Trust does not occur.

5. The Closing Date for the Securities is July 30, 2020.

6. No expenses or fees are paid by the Trust other than the Trustee Fee, which is paid as described under “The Trust Assets — The Trustee Fee” in this Supplement.

7. Distributions on the Underlying Certificates are made as described in the related Underlying Cer-tificate Disclosure Documents.

8. Each Class is held from the Closing Date and is not exchanged in whole or in part.

When reading the tables and the related text, investors should bear in mind that the Modeling Assumptions, like any other stated assumptions, are unlikely to be entirely consistent with actual experience.

� For example, most of the Mortgage Loans will not have the characteristics assumed, many Dis-tribution Dates will occur on a Business Day after the 20th day of the month, and the Trustee may cause a termination of the Trust as described under “Description of the Securities — Termi-nation” in this Supplement.

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� In addition, distributions on the Securities are based on Certificate Factors and Calculated Certifi-cate Factors, as applicable, which may not reflect actual receipts on the Trust Assets.

See “Description of the Securities — Distributions” in the Base Offering Circular.

Decrement Tables

Prepayments of mortgage loans are commonly measured by a prepayment standard or model. The model used in this Supplement, Prepayment Speed Assumption (“PSA”), is the standard prepayment assumption model of The Securities Industry and Financial Markets Association. PSA represents an assumed rate of prepayment each month relative to the then outstanding principal balance of the Mort-gage Loans to which the model is applied. See “Yield, Maturity and Prepayment Considerations — Standard Prepayment Assumption Models” in the Base Offering Circular.

The decrement tables set forth below are based on the assumption that the Mortgage Loans prepay at the indicated percentages of PSA (the “PSA Prepayment Assumption Rates”). As used in the tables, each of the PSA Prepayment Assumption Rates reflects a percentage of the 100% PSA assumed prepay-ment rate. The Mortgage Loans will not prepay at any of the PSA Prepayment Assumption Rates, and the timing of changes in the rate of prepayments actually experienced on the Mortgage Loans will not follow the pattern described for the PSA assumption.

The decrement tables set forth below illustrate the percentage of the Original Class Principal Bal-ance (or, in the case of a Notional Class, the original Class Notional Balance) that would remain out-standing following the distribution made each specified month for each Regular or MX Class, based on the assumption that the related Mortgage Loans prepay at the PSA Prepayment Assumption Rates. The percentages set forth in the following decrement tables have been rounded to the nearest whole percentage (including rounding down to zero).

The decrement tables also indicate the Weighted Average Life of each Class under each PSA Prepayment Assumption Rate. The Weighted Average Life of each Class is calculated by:

(a) multiplying the net reduction, if any, of the Class Principal Balance (or the net reduction of the Class Notional Balance, in the case of a Notional Class) from one Distribution Date to the next Distribution Date by the number of years from the date of issuance thereof to the related Dis-tribution Date,

(b) summing the results, and

(c) dividing the sum by the aggregate amount of the assumed net reductions in principal balance or notional balance, as applicable, referred to in clause (a).

The information shown for each Notional Class is for illustrative purposes only, as a Notional Class is not entitled to distributions of principal and has no Weighted Average Life. The Weighted Average Life shown for each Notional Class has been calculated on the assumption that a reduction in the Class Notional Balance thereof is a distribution of principal.

The Weighted Average Lives are likely to vary, perhaps significantly, from those set forth in the tables below due to the differences between the actual characteristics of the Mortgage Loans underlying the related Trust Assets and the Modeling Assumptions.

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Percentages of Original Class Principal (or Class Notional) Balances and Weighted Average Lives

Security Group 1 PSA Prepayment Assumption Rates

Classes AB, AC, AD, AE, AG, AH, AI, AK, Classes BA, BC, BD, BE, BG, BH, BI, BK, AP, BP, CP and PQ DP, EP and PM Classes PA, PB, PC, PD, PG and PI

Distribution Date 0% 100% 350% 380% 430% 800% 0% 100% 350% 380% 430% 800% 0% 100% 350% 380% 430% 800%

Initial Percent . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . . 98 95 89 89 89 86 98 95 89 89 89 86 98 95 89 89 89 86 July 2022 . . . . . . . . . . 96 88 71 71 71 52 96 88 71 71 71 52 96 88 71 71 71 52 July 2023 . . . . . . . . . . 94 80 53 53 53 27 94 80 53 53 53 27 94 80 53 53 53 27 July 2024 . . . . . . . . . . 92 73 39 39 39 14 92 73 39 39 39 14 92 73 39 39 39 14 July 2025 . . . . . . . . . . 90 66 28 28 28 7 90 66 28 28 28 7 90 66 28 28 28 7 July 2026 . . . . . . . . . . 88 59 20 20 20 3 88 59 20 20 20 3 88 59 20 20 20 3 July 2027 . . . . . . . . . . 85 53 15 15 15 2 85 53 15 15 15 2 85 53 15 15 15 2 July 2028 . . . . . . . . . . 83 48 11 11 11 1 83 48 11 11 11 1 83 48 11 11 11 1 July 2029 . . . . . . . . . . 80 42 8 8 8 0 80 42 8 8 8 0 80 42 8 8 8 0 July 2030 . . . . . . . . . . 77 37 6 6 6 0 77 37 6 6 6 0 77 37 6 6 6 0 July 2031 . . . . . . . . . . 74 32 4 4 4 0 74 32 4 4 4 0 74 32 4 4 4 0 July 2032 . . . . . . . . . . 71 28 3 3 3 0 71 28 3 3 3 0 71 28 3 3 3 0 July 2033 . . . . . . . . . . 68 24 2 2 2 0 68 24 2 2 2 0 68 24 2 2 2 0 July 2034 . . . . . . . . . . 64 20 1 1 1 0 64 20 1 1 1 0 64 20 1 1 1 0 July 2035 . . . . . . . . . . 61 16 1 1 1 0 61 16 1 1 1 0 61 16 1 1 1 0 July 2036 . . . . . . . . . . 57 12 1 1 1 0 57 12 1 1 1 0 57 12 1 1 1 0 July 2037 . . . . . . . . . . 53 9 0 0 0 0 53 9 0 0 0 0 53 9 0 0 0 0 July 2038 . . . . . . . . . . 49 6 0 0 0 0 49 6 0 0 0 0 49 6 0 0 0 0 July 2039 . . . . . . . . . . 44 3 0 0 0 0 44 3 0 0 0 0 44 3 0 0 0 0 July 2040 . . . . . . . . . . 40 0 0 0 0 0 40 0 0 0 0 0 40 0 0 0 0 0 July 2041 . . . . . . . . . . 35 0 0 0 0 0 35 0 0 0 0 0 35 0 0 0 0 0 July 2042 . . . . . . . . . . 30 0 0 0 0 0 30 0 0 0 0 0 30 0 0 0 0 0 July 2043 . . . . . . . . . . 25 0 0 0 0 0 25 0 0 0 0 0 25 0 0 0 0 0 July 2044 . . . . . . . . . . 19 0 0 0 0 0 19 0 0 0 0 0 19 0 0 0 0 0 July 2045 . . . . . . . . . . 13 0 0 0 0 0 13 0 0 0 0 0 13 0 0 0 0 0 July 2046 . . . . . . . . . . 7 0 0 0 0 0 7 0 0 0 0 0 7 0 0 0 0 0 July 2047 . . . . . . . . . . 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 July 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 July 2049 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 July 2050 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . . 16.4 8.5 4.0 4.0 4.0 2.4 16.4 8.5 4.0 4.0 4.0 2.4 16.4 8.5 4.0 4.0 4.0 2.4

PSA Prepayment Assumption Rates

Class Z Class ZG Class ZQ

Distribution Date 0% 100% 350% 380% 430% 800% 0% 100% 350% 380% 430% 800% 0% 100% 350% 380% 430% 800%

Initial Percent . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . 104 104 104 93 76 0 104 104 104 93 76 0 104 104 104 93 76 0 July 2022 . . . . . . . . . 107 107 107 80 36 0 107 107 107 80 36 0 107 107 107 80 36 0 July 2023 . . . . . . . . . 111 111 111 71 8 0 111 111 111 71 8 0 111 111 111 71 8 0 July 2024 . . . . . . . . . 115 115 115 70 0 0 115 115 115 70 0 0 115 115 115 70 0 0 July 2025 . . . . . . . . . 119 119 114 69 0 0 119 119 114 69 0 0 119 119 114 69 0 0 July 2026 . . . . . . . . . 123 123 106 63 0 0 123 123 106 63 0 0 123 123 106 63 0 0 July 2027 . . . . . . . . . 128 128 95 56 0 0 128 128 95 56 0 0 128 128 95 56 0 0 July 2028 . . . . . . . . . 132 132 83 48 0 0 132 132 83 48 0 0 132 132 83 48 0 0 July 2029 . . . . . . . . . 137 137 70 40 0 0 137 137 70 40 0 0 137 137 70 40 0 0 July 2030 . . . . . . . . . 142 142 59 33 0 0 142 142 59 33 0 0 142 142 59 33 0 0 July 2031 . . . . . . . . . 147 147 48 27 0 0 147 147 48 27 0 0 147 147 48 27 0 0 July 2032 . . . . . . . . . 152 152 39 22 0 0 152 152 39 22 0 0 152 152 39 22 0 0 July 2033 . . . . . . . . . 158 158 31 17 0 0 158 158 31 17 0 0 158 158 31 17 0 0 July 2034 . . . . . . . . . 163 163 25 13 0 0 163 163 25 13 0 0 163 163 25 13 0 0 July 2035 . . . . . . . . . 169 169 20 10 0 0 169 169 20 10 0 0 169 169 20 10 0 0 July 2036 . . . . . . . . . 175 175 15 8 0 0 175 175 15 8 0 0 175 175 15 8 0 0 July 2037 . . . . . . . . . 181 181 12 6 0 0 181 181 12 6 0 0 181 181 12 6 0 0 July 2038 . . . . . . . . . 188 188 9 5 0 0 188 188 9 5 0 0 188 188 9 5 0 0 July 2039 . . . . . . . . . 194 194 7 3 0 0 194 194 7 3 0 0 194 194 7 3 0 0 July 2040 . . . . . . . . . 201 201 5 3 0 0 201 201 5 3 0 0 201 201 5 3 0 0 July 2041 . . . . . . . . . 208 174 4 2 0 0 208 174 4 2 0 0 208 174 4 2 0 0 July 2042 . . . . . . . . . 216 147 3 1 0 0 216 147 3 1 0 0 216 147 3 1 0 0 July 2043 . . . . . . . . . 223 122 2 1 0 0 223 122 2 1 0 0 223 122 2 1 0 0 July 2044 . . . . . . . . . 231 99 1 1 0 0 231 99 1 1 0 0 231 99 1 1 0 0 July 2045 . . . . . . . . . 240 77 1 0 0 0 240 77 1 0 0 0 240 77 1 0 0 0 July 2046 . . . . . . . . . 248 57 1 0 0 0 248 57 1 0 0 0 248 57 1 0 0 0 July 2047 . . . . . . . . . 257 39 0 0 0 0 257 39 0 0 0 0 257 39 0 0 0 0 July 2048 . . . . . . . . . 182 22 0 0 0 0 182 22 0 0 0 0 182 22 0 0 0 0 July 2049 . . . . . . . . . 93 6 0 0 0 0 93 6 0 0 0 0 93 6 0 0 0 0 July 2050 . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . 28.6 24.2 11.0 7.9 1.7 0.4 28.6 24.2 11.0 7.9 1.7 0.4 28.6 24.2 11.0 7.9 1.7 0.4

S-27


Class P Class ZA

Distribution Date 0% 200% 250% 300% 500% 0% 200% 250% 300% 500%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . . . . 98 93 93 93 93 103 103 94 86 54 July 2022 . . . . . . . . . . . . 95 81 81 81 77 105 105 81 57 0 July 2023 . . . . . . . . . . . . 93 68 68 68 53 108 108 67 27 0 July 2024 . . . . . . . . . . . . 90 56 56 56 36 111 111 58 10 0 July 2025 . . . . . . . . . . . . 87 45 45 45 24 113 113 54 1 0 July 2026 . . . . . . . . . . . . 85 36 36 36 17 116 116 54 0 0 July 2027 . . . . . . . . . . . . 82 29 29 29 11 119 115 52 0 0 July 2028 . . . . . . . . . . . . 79 23 23 23 8 122 111 50 0 0 July 2029 . . . . . . . . . . . . 76 18 18 18 5 125 104 46 0 0 July 2030 . . . . . . . . . . . . 72 14 14 14 3 128 97 42 0 0 July 2031 . . . . . . . . . . . . 69 11 11 11 2 132 88 37 0 0 July 2032 . . . . . . . . . . . . 65 9 9 9 2 135 79 33 0 0 July 2033 . . . . . . . . . . . . 62 7 7 7 1 138 71 29 0 0 July 2034 . . . . . . . . . . . . 58 5 5 5 1 142 62 25 0 0 July 2035 . . . . . . . . . . . . 54 4 4 4 0 145 54 21 0 0 July 2036 . . . . . . . . . . . . 50 3 3 3 0 149 47 18 0 0 July 2037 . . . . . . . . . . . . 46 3 3 3 0 153 40 15 0 0 July 2038 . . . . . . . . . . . . 41 2 2 2 0 157 34 12 0 0 July 2039 . . . . . . . . . . . . 37 1 1 1 0 161 29 10 0 0 July 2040 . . . . . . . . . . . . 32 1 1 1 0 165 24 8 0 0 July 2041 . . . . . . . . . . . . 27 1 1 1 0 169 19 7 0 0 July 2042 . . . . . . . . . . . . 22 1 1 1 0 173 16 5 0 0 July 2043 . . . . . . . . . . . . 16 0 0 0 0 178 12 4 0 0 July 2044 . . . . . . . . . . . . 11 0 0 0 0 182 10 3 0 0 July 2045 . . . . . . . . . . . . 5 0 0 0 0 187 7 2 0 0 July 2046 . . . . . . . . . . . . 0 0 0 0 0 182 5 2 0 0 July 2047 . . . . . . . . . . . . 0 0 0 0 0 139 3 1 0 0 July 2048 . . . . . . . . . . . . 0 0 0 0 0 95 2 1 0 0 July 2049 . . . . . . . . . . . . 0 0 0 0 0 48 1 0 0 0 July 2050 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . . . . . 15.0 5.6 5.6 5.6 3.9 28.0 15.4 8.8 2.3 1.0


Classes D, DA, FA and SA Class DB Class DI

Distribution Date 0% 100% 300% 450% 600% 0% 100% 300% 450% 600% 0% 100% 300% 450% 600%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . . . . 98 97 94 91 89 98 97 94 91 89 98 97 94 91 89 July 2022 . . . . . . . . . . . . 97 91 81 74 67 97 91 81 74 67 97 91 81 74 67 July 2023 . . . . . . . . . . . . 95 84 65 53 42 95 84 65 53 42 95 84 65 53 42 July 2024 . . . . . . . . . . . . 93 77 52 38 27 93 77 52 38 27 93 77 52 38 27 July 2025 . . . . . . . . . . . . 91 71 42 27 17 91 71 42 27 17 91 71 42 27 17 July 2026 . . . . . . . . . . . . 89 65 33 19 10 89 65 33 19 10 89 65 33 19 10 July 2027 . . . . . . . . . . . . 87 59 27 14 6 87 59 27 14 6 87 59 27 14 6 July 2028 . . . . . . . . . . . . 85 54 21 10 4 85 54 21 10 4 85 54 21 10 4 July 2029 . . . . . . . . . . . . 83 49 17 7 2 83 49 17 7 2 83 49 17 7 2 July 2030 . . . . . . . . . . . . 80 45 13 5 2 80 45 13 5 2 80 45 13 5 2 July 2031 . . . . . . . . . . . . 78 40 11 3 1 78 40 11 3 1 78 40 11 3 1 July 2032 . . . . . . . . . . . . 75 37 8 2 1 75 37 8 2 1 75 37 8 2 1 July 2033 . . . . . . . . . . . . 72 33 7 2 0 72 33 7 2 0 72 33 7 2 0 July 2034 . . . . . . . . . . . . 69 30 5 1 0 69 30 5 1 0 69 30 5 1 0 July 2035 . . . . . . . . . . . . 66 26 4 1 0 66 26 4 1 0 66 26 4 1 0 July 2036 . . . . . . . . . . . . 63 24 3 1 0 63 24 3 1 0 63 24 3 1 0 July 2037 . . . . . . . . . . . . 60 21 2 0 0 60 21 2 0 0 60 21 2 0 0 July 2038 . . . . . . . . . . . . 56 18 2 0 0 56 18 2 0 0 56 18 2 0 0 July 2039 . . . . . . . . . . . . 53 16 1 0 0 53 16 1 0 0 53 16 1 0 0 July 2040 . . . . . . . . . . . . 49 14 1 0 0 49 14 1 0 0 49 14 1 0 0 July 2041 . . . . . . . . . . . . 45 12 1 0 0 45 12 1 0 0 45 12 1 0 0 July 2042 . . . . . . . . . . . . 41 10 1 0 0 41 10 1 0 0 41 10 1 0 0 July 2043 . . . . . . . . . . . . 36 8 0 0 0 36 8 0 0 0 36 8 0 0 0 July 2044 . . . . . . . . . . . . 32 7 0 0 0 32 7 0 0 0 32 7 0 0 0 July 2045 . . . . . . . . . . . . 27 5 0 0 0 27 5 0 0 0 27 5 0 0 0 July 2046 . . . . . . . . . . . . 22 4 0 0 0 22 4 0 0 0 22 4 0 0 0 July 2047 . . . . . . . . . . . . 17 3 0 0 0 17 3 0 0 0 17 3 0 0 0 July 2048 . . . . . . . . . . . . 12 2 0 0 0 12 2 0 0 0 12 2 0 0 0 July 2049 . . . . . . . . . . . . 6 1 0 0 0 6 1 0 0 0 6 1 0 0 0 July 2050 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . . . . . 18.3 10.5 5.4 4.0 3.2 18.3 10.5 5.4 4.0 3.2 18.3 10.5 5.4 4.0 3.2

S-28


Classes CA and CB Class CZ


Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . . . . 97 85 85 85 74 103 103 76 58 0 July 2022 . . . . . . . . . . . . 93 71 71 71 49 106 106 60 30 0 July 2023 . . . . . . . . . . . . 90 59 59 59 31 109 109 50 13 0 July 2024 . . . . . . . . . . . . 86 48 48 48 19 113 113 45 3 0 July 2025 . . . . . . . . . . . . 83 39 39 39 10 116 116 44 0 0 July 2026 . . . . . . . . . . . . 79 30 30 30 4 120 118 44 0 0 July 2027 . . . . . . . . . . . . 75 23 23 23 1 123 116 42 0 0 July 2028 . . . . . . . . . . . . 70 17 17 17 1 127 112 40 0 0 July 2029 . . . . . . . . . . . . 66 13 13 13 0 131 105 37 0 0 July 2030 . . . . . . . . . . . . 61 8 8 8 0 135 98 34 0 0 July 2031 . . . . . . . . . . . . 57 5 5 5 0 139 90 31 0 0 July 2032 . . . . . . . . . . . . 52 2 2 2 0 143 82 27 0 0 July 2033 . . . . . . . . . . . . 47 1 1 1 0 148 56 7 0 0 July 2034 . . . . . . . . . . . . 41 1 1 1 0 152 33 5 0 0 July 2035 . . . . . . . . . . . . 36 1 1 1 0 157 13 4 0 0 July 2036 . . . . . . . . . . . . 30 0 0 0 0 162 11 3 0 0 July 2037 . . . . . . . . . . . . 24 0 0 0 0 166 9 3 0 0 July 2038 . . . . . . . . . . . . 18 0 0 0 0 171 6 1 0 0 July 2039 . . . . . . . . . . . . 12 0 0 0 0 177 3 0 0 0 July 2040 . . . . . . . . . . . . 5 0 0 0 0 182 0 0 0 0 July 2041 . . . . . . . . . . . . 0 0 0 0 0 174 0 0 0 0 July 2042 . . . . . . . . . . . . 0 0 0 0 0 118 0 0 0 0 July 2043 . . . . . . . . . . . . 0 0 0 0 0 60 0 0 0 0 July 2044 . . . . . . . . . . . . 0 0 0 0 0 2 0 0 0 0 July 2045 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 July 2046 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 July 2047 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . . . . . 11.7 4.5 4.5 4.5 2.4 22.4 12.7 6.0 1.5 0.2


Class CI Classes CM and CN Class ZC



Life (years) . . . . . . . . . 18.6 7.8 6.8 6.2 3.6 15.9 6.5 6.5 6.5 3.9 28.3 17.1 8.7 2.6 0.9

S-29

Security Groups 4 and 5 PSA Prepayment Assumption Rates

Class CG

Distribution Date 0% 175% 220% 250% 500%

Initial Percent . . . . . . . . . 100 100 100 100 100 July 2021 . . . . . . . . . . . . 97 88 88 88 81 July 2022 . . . . . . . . . . . . 94 75 75 75 57 July 2023 . . . . . . . . . . . . 91 63 63 63 38 July 2024 . . . . . . . . . . . . 88 52 52 52 24 July 2025 . . . . . . . . . . . . 85 43 43 43 15 July 2026 . . . . . . . . . . . . 81 34 34 34 8 July 2027 . . . . . . . . . . . . 78 27 27 27 5 July 2028 . . . . . . . . . . . . 74 21 21 21 3 July 2029 . . . . . . . . . . . . 70 16 16 16 2 July 2030 . . . . . . . . . . . . 66 12 12 12 1 July 2031 . . . . . . . . . . . . 62 9 9 9 1 July 2032 . . . . . . . . . . . . 57 6 6 6 1 July 2033 . . . . . . . . . . . . 53 4 4 4 0 July 2034 . . . . . . . . . . . . 48 3 3 3 0 July 2035 . . . . . . . . . . . . 43 3 3 3 0 July 2036 . . . . . . . . . . . . 38 2 2 2 0 July 2037 . . . . . . . . . . . . 32 1 1 1 0 July 2038 . . . . . . . . . . . . 27 1 1 1 0 July 2039 . . . . . . . . . . . . 21 1 1 1 0 July 2040 . . . . . . . . . . . . 15 1 1 1 0 July 2041 . . . . . . . . . . . . 10 1 1 1 0 July 2042 . . . . . . . . . . . . 8 0 0 0 0 July 2043 . . . . . . . . . . . . 7 0 0 0 0 July 2044 . . . . . . . . . . . . 5 0 0 0 0 July 2045 . . . . . . . . . . . . 3 0 0 0 0 July 2046 . . . . . . . . . . . . 1 0 0 0 0 July 2047 . . . . . . . . . . . . 0 0 0 0 0 July 2048 . . . . . . . . . . . . 0 0 0 0 0 July 2049 . . . . . . . . . . . . 0 0 0 0 0 July 2050 . . . . . . . . . . . . 0 0 0 0 0 Weighted Average

Life (years) . . . . . . . . . 13.0 5.2 5.2 5.2 2.9


Class QP Class QZ



Life (years) . . . . . . . . . 13.7 6.4 6.4 6.4 3.7 26.7 17.4 7.1 2.3 0.8

S-30


Class CH Class ZH


Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . . . . 97 86 86 86 76 103 103 77 59 0 July 2022 . . . . . . . . . . . . 94 73 73 73 52 106 106 60 31 0 July 2023 . . . . . . . . . . . . 92 62 62 62 35 109 109 50 13 0 July 2024 . . . . . . . . . . . . 88 52 52 52 24 113 113 45 3 0 July 2025 . . . . . . . . . . . . 85 43 43 43 16 116 116 44 0 0 July 2026 . . . . . . . . . . . . 82 35 35 35 10 120 118 44 0 0 July 2027 . . . . . . . . . . . . 79 29 29 29 7 123 117 42 0 0 July 2028 . . . . . . . . . . . . 75 24 24 24 4 127 113 40 0 0 July 2029 . . . . . . . . . . . . 71 19 19 19 2 131 107 38 0 0 July 2030 . . . . . . . . . . . . 68 15 15 15 1 135 100 34 0 0 July 2031 . . . . . . . . . . . . 64 12 12 12 0 139 92 31 0 0 July 2032 . . . . . . . . . . . . 60 10 10 10 0 143 84 28 0 0 July 2033 . . . . . . . . . . . . 55 8 8 8 0 148 76 25 0 0 July 2034 . . . . . . . . . . . . 51 6 6 6 0 152 67 22 0 0 July 2035 . . . . . . . . . . . . 46 4 4 4 0 157 59 19 0 0 July 2036 . . . . . . . . . . . . 41 3 3 3 0 162 52 16 0 0 July 2037 . . . . . . . . . . . . 36 2 2 2 0 166 45 14 0 0 July 2038 . . . . . . . . . . . . 31 1 1 1 0 171 38 11 0 0 July 2039 . . . . . . . . . . . . 26 1 1 1 0 177 32 9 0 0 July 2040 . . . . . . . . . . . . 20 0 0 0 0 182 27 8 0 0 July 2041 . . . . . . . . . . . . 15 0 0 0 0 188 18 2 0 0 July 2042 . . . . . . . . . . . . 9 0 0 0 0 193 10 0 0 0 July 2043 . . . . . . . . . . . . 2 0 0 0 0 199 3 0 0 0 July 2044 . . . . . . . . . . . . 0 0 0 0 0 167 0 0 0 0 July 2045 . . . . . . . . . . . . 0 0 0 0 0 113 0 0 0 0 July 2046 . . . . . . . . . . . . 0 0 0 0 0 57 0 0 0 0 July 2047 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 July 2048 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . . . . . 13.4 5.3 5.3 5.3 2.8 25.2 15.3 7.1 1.5 0.2

Security Groups 4, 5 and 7 PSA Prepayment Assumption Rates

Class CE



Life (years) . . . . . . . . . 13.4 5.3 5.3 5.3 2.8

S-31

Security Groups 4, 5, 6 and 7 PSA Prepayment Assumption Rates

Class ZX

Distribution Date 0% 150% 175% 220% 250% 255% 500%

Initial Percent . . . 100 100 100 100 100 100 100 July 2021 . . . . . . . 103 103 100 86 76 74 25 July 2022 . . . . . . . 106 106 99 69 49 45 0 July 2023 . . . . . . . 109 109 98 54 26 22 0 July 2024 . . . . . . . 112 112 98 45 12 8 0 July 2025 . . . . . . . 116 116 99 41 5 2 0 July 2026 . . . . . . . 119 119 101 39 3 0 0 July 2027 . . . . . . . 123 122 101 39 3 0 0 July 2028 . . . . . . . 127 123 98 37 3 0 0 July 2029 . . . . . . . 130 123 94 35 2 0 0 July 2030 . . . . . . . 134 122 89 32 2 0 0 July 2031 . . . . . . . 138 118 82 30 2 0 0 July 2032 . . . . . . . 142 110 76 27 2 0 0 July 2033 . . . . . . . 147 97 65 20 2 0 0 July 2034 . . . . . . . 151 85 55 17 1 0 0 July 2035 . . . . . . . 155 73 45 15 1 0 0 July 2036 . . . . . . . 160 61 40 13 1 0 0 July 2037 . . . . . . . 165 53 35 11 1 0 0 July 2038 . . . . . . . 170 46 30 9 1 0 0 July 2039 . . . . . . . 175 39 25 8 1 0 0 July 2040 . . . . . . . 180 33 21 6 1 0 0 July 2041 . . . . . . . 182 27 17 5 0 0 0 July 2042 . . . . . . . 174 22 13 4 0 0 0 July 2043 . . . . . . . 166 17 10 3 0 0 0 July 2044 . . . . . . . 148 13 8 2 0 0 0 July 2045 . . . . . . . 123 10 6 2 0 0 0 July 2046 . . . . . . . 97 7 4 1 0 0 0 July 2047 . . . . . . . 67 5 3 1 0 0 0 July 2048 . . . . . . . 40 2 1 0 0 0 0 July 2049 . . . . . . . 12 1 0 0 0 0 0 July 2050 . . . . . . . 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . 26.0 17.1 15.2 7.0 2.4 2.0 0.6


Class AJ Class H Classes HM and HP Class HZ

Distribution Date 0% 150% 275% 325% 600% 0% 150% 275% 325% 600% 0% 150% 275% 325% 600% 0% 150% 275% 325% 600%

Initial Percent . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 July 2021 . . . . . . . . . . . . 97 92 92 92 92 98 95 92 91 85 97 93 93 93 93 103 103 90 85 57 July 2022 . . . . . . . . . . . . 93 81 81 81 75 96 86 79 76 60 93 81 81 81 76 105 105 70 55 0 July 2023 . . . . . . . . . . . . 90 68 68 68 47 94 77 64 60 38 90 68 68 68 48 108 108 49 27 0 July 2024 . . . . . . . . . . . . 86 56 56 56 29 92 68 52 47 24 86 57 57 57 30 111 111 36 10 0 July 2025 . . . . . . . . . . . . 83 46 46 46 18 89 61 43 37 15 83 46 46 46 19 114 114 30 2 0 July 2026 . . . . . . . . . . . . 79 36 36 36 11 87 54 35 29 9 79 37 37 37 12 117 117 28 0 0 July 2027 . . . . . . . . . . . . 75 28 28 28 7 84 47 28 23 6 75 29 29 29 7 120 117 26 0 0 July 2028 . . . . . . . . . . . . 71 22 22 22 4 82 42 23 18 4 71 22 22 22 4 123 114 25 0 0 July 2029 . . . . . . . . . . . . 67 17 17 17 3 79 37 18 14 2 67 17 17 17 3 126 109 22 0 0 July 2030 . . . . . . . . . . . . 62 13 13 13 2 77 32 15 11 1 62 14 14 14 2 130 102 20 0 0 July 2031 . . . . . . . . . . . . 58 10 10 10 1 74 28 12 8 1 58 11 11 11 1 133 95 17 0 0 July 2032 . . . . . . . . . . . . 53 8 8 8 1 71 25 10 6 1 53 8 8 8 1 137 87 15 0 0 July 2033 . . . . . . . . . . . . 48 6 6 6 0 68 22 8 5 0 48 6 6 6 0 140 78 13 0 0 July 2034 . . . . . . . . . . . . 43 5 5 5 0 65 19 6 4 0 43 5 5 5 0 144 70 11 0 0 July 2035 . . . . . . . . . . . . 38 4 4 4 0 61 16 5 3 0 38 4 4 4 0 148 62 9 0 0 July 2036 . . . . . . . . . . . . 33 3 3 3 0 58 14 4 2 0 33 3 3 3 0 152 55 8 0 0 July 2037 . . . . . . . . . . . . 28 2 2 2 0 55 12 3 2 0 28 2 2 2 0 156 48 6 0 0 July 2038 . . . . . . . . . . . . 22 2 2 2 0 51 10 2 1 0 22 2 2 2 0 160 41 5 0 0 July 2039 . . . . . . . . . . . . 16 1 1 1 0 47 8 2 1 0 16 1 1 1 0 164 35 4 0 0 July 2040 . . . . . . . . . . . . 10 1 1 1 0 43 7 1 1 0 10 1 1 1 0 168 30 3 0 0 July 2041 . . . . . . . . . . . . 4 1 1 1 0 39 6 1 1 0 4 1 1 1 0 173 25 3 0 0 July 2042 . . . . . . . . . . . . 0 0 0 0 0 35 5 1 0 0 0 0 0 0 0 165 20 2 0 0 July 2043 . . . . . . . . . . . . 0 0 0 0 0 31 4 1 0 0 0 0 0 0 0 145 16 2 0 0 July 2044 . . . . . . . . . . . . 0 0 0 0 0 27 3 0 0 0 0 0 0 0 0 125 12 1 0 0 July 2045 . . . . . . . . . . . . 0 0 0 0 0 22 2 0 0 0 0 0 0 0 0 104 9 1 0 0 July 2046 . . . . . . . . . . . . 0 0 0 0 0 17 1 0 0 0 0 0 0 0 0 81 6 1 0 0 July 2047 . . . . . . . . . . . . 0 0 0 0 0 12 1 0 0 0 0 0 0 0 0 58 4 0 0 0 July 2048 . . . . . . . . . . . . 0 0 0 0 0 7 0 0 0 0 0 0 0 0 0 35 2 0 0 0 July 2049 . . . . . . . . . . . . 0 0 0 0 0 3 0 0 0 0 0 0 0 0 0 12 0 0 0 0 July 2050 . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . . . . . . 12.1 5.6 5.6 5.6 3.4 17.2 8.3 5.6 4.9 3.0 12.1 5.6 5.6 5.6 3.5 25.7 16.2 5.5 2.3 1.1

S-32


Class JA Class JI Class JZ Class ZJ



Life (years) . . . . . . . . . 12.1 5.6 5.6 5.6 3.5 17.1 8.3 5.6 4.9 3.0 25.6 16.1 5.6 2.4 1.1 25.7 16.3 5.4 2.3 1.0


Class BZ Class G Class GA Class GB



Life (years) . . . . . . . . . 25.1 15.9 5.3 2.2 0.9 17.6 8.4 5.7 5.0 3.1 11.6 5.4 5.4 5.4 3.3 13.5 5.9 5.9 5.9 3.8

S-33


Class GI Class GP Class GZ Class ZB



Life (years) . . . . . . . . . 18.6 8.7 5.9 5.2 3.3 12.6 5.7 5.7 5.7 3.6 26.1 16.4 5.6 2.4 1.2 26.7 16.8 5.9 2.7 1.4


Classes KA, KB, KC, KF, KI and KS



Life (years) . . . . . . . . . 18.6 10.5 4.4 3.0 2.4

S-34

Security Groups 1 and 10 PSA Prepayment Assumption Rates

Class KD

Distribution Date 0% 100% 350% 380% 430% 600% 800%

Initial Percent . . . 100 100 100 100 100 100 100 July 2021 . . . . . . . 98 96 90 90 89 88 84 July 2022 . . . . . . . 97 89 73 72 71 63 52 July 2023 . . . . . . . 95 81 55 54 53 39 26 July 2024 . . . . . . . 93 74 41 40 38 25 13 July 2025 . . . . . . . 91 68 31 30 28 15 7 July 2026 . . . . . . . 88 61 23 22 20 10 3 July 2027 . . . . . . . 86 55 17 16 15 6 2 July 2028 . . . . . . . 84 50 13 12 10 4 1 July 2029 . . . . . . . 81 45 9 9 8 2 0 July 2030 . . . . . . . 79 40 7 6 5 1 0 July 2031 . . . . . . . 76 35 5 5 4 1 0 July 2032 . . . . . . . 73 31 4 3 3 1 0 July 2033 . . . . . . . 70 27 3 2 2 0 0 July 2034 . . . . . . . 67 23 2 2 1 0 0 July 2035 . . . . . . . 63 20 1 1 1 0 0 July 2036 . . . . . . . 60 17 1 1 1 0 0 July 2037 . . . . . . . 56 14 1 1 0 0 0 July 2038 . . . . . . . 52 11 1 0 0 0 0 July 2039 . . . . . . . 48 8 0 0 0 0 0 July 2040 . . . . . . . 44 5 0 0 0 0 0 July 2041 . . . . . . . 39 5 0 0 0 0 0 July 2042 . . . . . . . 35 4 0 0 0 0 0 July 2043 . . . . . . . 30 3 0 0 0 0 0 July 2044 . . . . . . . 25 3 0 0 0 0 0 July 2045 . . . . . . . 19 2 0 0 0 0 0 July 2046 . . . . . . . 13 2 0 0 0 0 0 July 2047 . . . . . . . 7 1 0 0 0 0 0 July 2048 . . . . . . . 5 1 0 0 0 0 0 July 2049 . . . . . . . 2 0 0 0 0 0 0 July 2050 . . . . . . . 0 0 0 0 0 0 0 Weighted Average

Life (years) . . . . 17.3 9.2 4.3 4.2 4.0 3.1 2.4


Class EA Class EB Classes EF, ES, S and SE



Life (years) . . . . . . . . . 14.0 5.5 5.5 5.5 3.3 25.2 25.1 25.1 25.1 13.9 18.6 8.4 5.2 4.8 2.8

S-35


Class EI Class EZ



Life (years) . . . . . . . . . 14.0 5.5 5.5 5.5 3.4 27.1 16.0 4.2 2.5 1.2

Yield Considerations

An investor seeking to maximize yield should make a decision whether to invest in any Regular or MX Class based on:

� the anticipated yield of that Class resulting from its purchase price,

� the investor’s own projection of Mortgage Loan prepayment rates under a variety of scenarios,

� in the case of the Group 4, 6, 7, 8 and 9 Securities, the investor’s own projection of payment rates on the Underlying Certificates under a variety of scenarios, and

� in the case of a Floating Rate or an Inverse Floating Rate Class, the investor’s own projection of levels of LIBOR under a variety of scenarios.

No representation is made regarding Mortgage Loan prepayment rates, Underlying Certifi-cate payment rates, LIBOR levels or the yield of any Class.

Prepayments: Effect on Yields

The yields to investors will be sensitive in varying degrees to the rate of prepayments on the related Mortgage Loans.

� In the case of Regular Securities or MX Securities purchased at a premium (especially the Interest Only Classes), faster than anticipated rates of principal payments could result in actual yields to investors that are lower than the anticipated yields.

� Investors in the Interest Only Classes should also consider the risk that rapid rates of principal payments could result in the failure of investors to recover fully their investments.

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� In the case of Regular Securities or MX Securities purchased at a discount, slower than antici-pated rates of principal payments could result in actual yields to investors that are lower than the anticipated yields.

See “Risk Factors — Rates of principal payments can reduce your yield” in this Supplement.

Rapid rates of prepayments on the Mortgage Loans are likely to coincide with periods of low pre-vailing interest rates.

During periods of low prevailing interest rates, the yields at which an investor may be able to reinvest amounts received as principal payments on the investor’s Class of Securities may be lower than the yield on that Class.

Slow rates of prepayments on the Mortgage Loans are likely to coincide with periods of high pre-vailing interest rates.

During periods of high prevailing interest rates, the amount of principal payments available to an investor for reinvestment at those high rates may be relatively low.

The Mortgage Loans will not prepay at any constant rate until maturity, nor will all of the Mortgage Loans underlying any Trust Asset Group prepay at the same rate at any one time. The timing of changes in the rate of prepayments may affect the actual yield to an investor, even if the average rate of principal prepayments is consistent with the investor’s expectation. In general, the earlier a prepayment of principal on the Mortgage Loans, the greater the effect on an investor’s yield. As a result, the effect on an investor’s yield of principal prepayments occurring at a rate higher (or lower) than the rate antici-pated by the investor during the period immediately following the Closing Date is not likely to be offset by a later equivalent reduction (or increase) in the rate of principal prepayments.

LIBOR: Effect on Yields of the Floating Rate and Inverse Floating Rate Classes

Low levels of LIBOR can reduce the yield of the Floating Rate Classes. High levels of LIBOR can reduce the yield of the Inverse Floating Rate Classes. In addition, the Floating Rate Classes will not necessarily benefit from a higher yield at high levels of LIBOR because the rate on such Classes is cap-ped at a maximum rate described under “Terms Sheet — Interest Rates.”

Payment Delay: Effect on Yields of the Fixed Rate and Delay Classes

The effective yield on any Fixed Rate or Delay Class will be less than the yield otherwise produced by its Interest Rate and purchase price because, on each Distribution Date, 30 days’ interest will be payable on (or added to the principal amount of) that Class even though interest began to accrue approximately 50 days earlier.

Yield Tables

The following tables show the pre-tax yields to maturity on a corporate bond equivalent basis of specified Classes at various constant percentages of PSA and, in the case of the Inverse Floating Rate Classes, at various constant levels of LIBOR.

The Mortgage Loans will not prepay at any constant rate until maturity, and it is unlikely that LIBOR will remain constant. Moreover, it is likely that the Mortgage Loans will experience actual prepayment rates that differ from those of the Modeling Assumptions. Therefore, the actual pre-tax yield of any Class may differ from those shown in the applicable table below for that Class even if the Class is purchased at the assumed price shown.

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The yields were calculated by

1. determining the monthly discount rates that, when applied to the applicable assumed streams of cash flows to be paid on the applicable Class, would cause the discounted present value of the assumed streams of cash flows to equal the assumed purchase price of that Class plus accrued interest, and

2. converting the monthly rates to corporate bond equivalent rates.

These calculations do not take into account variations that may occur in the interest rates at which investors may be able to reinvest funds received by them as distributions on their Securities and con-sequently do not purport to reflect the return on any investment in any Class when those reinvestment rates are considered.

The information set forth in the following tables was prepared on the basis of the Modeling Assumptions and the assumptions that (1) the Interest Rate applicable to each Inverse Floating Rate Class for each Accrual Period following the first Accrual Period will be based on the indicated level of LIBOR and (2) the purchase price of each Class (expressed as a percentage of original Class Notional Balance) plus accrued interest is as indicated in the related table. The assumed purchase price is not necessarily that at which actual sales will occur.

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SECURITY GROUP 1

Sensitivity of Class AI to Prepayments Assumed Price 13.25%*


100%

17.8%

350%

1.6%

380%

1.6%

430%

1.6%

461%

0.0%

800%

(20.7)%

Sensitivity of Class BI to Prepayments Assumed Price 8.75%*

100%

33.4%


350% 380% 430% 754%

17.8% 17.8% 17.8% 0.0%

800%

(2.8)%

Sensitivity of Class PI to Prepayments Assumed Price 10.3487%*

100%

26.3%


350% 380% 430% 620%

10.5% 10.5% 10.5% 0.1%

800%

(10.9)%

SECURITY GROUP 3

Sensitivity of Class DI to Prepayments Assumed Price 8.75%*


100% 300% 450% 600% 659%

28.6% 18.6% 11.0% 3.2% 0.0%

Sensitivity of Class SA to Prepayments Assumed Price 13.0%*


LIBOR 100% 300% 450% 600%

0.100% . . . . . . . . . . . . . . . . . . . . . . . . 44.0% 34.7% 27.5% 20.3% 0.166% . . . . . . . . . . . . . . . . . . . . . . . . 43.4% 34.1% 26.9% 19.6% 3.333% . . . . . . . . . . . . . . . . . . . . . . . . 15.0% 4.4% (3.9)% (12.3)% 6.150% and above . . . . . . . . . . . . . . ** ** ** **

* The price does not include accrued interest. Accrued interest has been added to the price in calculat-ing the yields set forth in the table.

** Indicates that investors will suffer a loss of virtually all of their investment.

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SECURITY GROUP 5

Sensitivity of Class CI to Prepayments Assumed Price 6.0%*


175%

53.1%

220%

51.0%

250%

49.5%

500%

37.6%

1,241%

0.0%

SECURITY GROUP 8

Sensitivity of Class JI to Prepayments Assumed Price 4.2969%*

150%

67.3%


275% 325% 600%

61.3% 58.7% 44.5%

1,385%

0.0%

SECURITY GROUP 9

Sensitivity of Class GI to Prepayments Assumed Price 6.0%*

150%

54.8%


275% 325% 600%

49.5% 47.3% 35.4%

1,389%

0.0%

SECURITY GROUP 10

Sensitivity of Class KI to Prepayments Assumed Price 13.875%*


100% 380% 421% 600% 800%

18.2% 2.4% 0.0% (10.7)% (23.3)%

Sensitivity of Class KS to Prepayments Assumed Price 22.83043%*


LIBOR 100% 380% 600% 800%

0.1000% . . . . . . . . . . . . . . . . . . . . 20.3% 4.6% (8.4)% (20.8)% 0.1770% . . . . . . . . . . . . . . . . . . . . 19.9% 4.2% (8.8)% (21.3)% 3.1885% . . . . . . . . . . . . . . . . . . . . 4.7% (11.7)% (25.5)% (39.0)% 6.2000% and above . . . . . . . . . . . ** ** ** **



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SECURITY GROUP 11

Sensitivity of Class EI to Prepayments Assumed Price 16.625%*


160% 320% 355% 437% 700%

3.6% 3.6% 3.6% 0.0% (13.7)%

Sensitivity of Class ES to Prepayments Assumed Price 23.25%*


LIBOR 160% 320% 355% 700%

0.1000% . . . . . . . . . . . . . . . . . . . . . . 17.0% 8.6% 6.8% (12.2)% 0.1770% . . . . . . . . . . . . . . . . . . . . . . 16.6% 8.2% 6.4% (12.6)% 3.1885% . . . . . . . . . . . . . . . . . . . . . . 1.3% (7.6)% (9.7)% (30.6)% 6.2000% and above . . . . . . . . . . . . . ** ** ** **

Sensitivity of Class S to Prepayments Assumed Price 22.4676%*


LIBOR 160% 320% 355% 700%

0.1000% . . . . . . . . . . . . . . . . . . . . . . 18.1% 9.7% 7.9% (10.9)% 0.1770% . . . . . . . . . . . . . . . . . . . . . . 17.7% 9.3% 7.5% (11.4)% 3.1885% . . . . . . . . . . . . . . . . . . . . . . 1.9% (7.1)% (9.1)% (29.9)% 6.2000% and above . . . . . . . . . . . . . ** ** ** **

Sensitivity of Class SE to Prepayments Assumed Price 21.3901%*


LIBOR 160% 320% 355% 700%

0.1000% . . . . . . . . . . . . . . . . . . . . . . 19.7% 11.4% 9.6% (9.0)% 0.1770% . . . . . . . . . . . . . . . . . . . . . . 19.2% 11.0% 9.1% (9.5)% 3.1885% . . . . . . . . . . . . . . . . . . . . . . 2.7% (6.2)% (8.2)% (28.9)% 6.2000% and above . . . . . . . . . . . . . ** ** ** **



CERTAIN UNITED STATES FEDERAL INCOME TAX CONSEQUENCES

The following tax discussion, when read in conjunction with the discussion of “Certain United States Federal Income Tax Consequences” in the Base Offering Circular, describes the material United States federal income tax considerations for investors in the Securities. However, these two tax dis-cussions do not purport to deal with all United States federal tax consequences applicable to all catego-ries of investors, some of which may be subject to special rules.

S-41

REMIC Elections

In the opinion of Cleary Gottlieb Steen & Hamilton LLP, the Trust will constitute a Single REMIC Series as to the Group 1 Trust Assets, as to the Group 2 Trust Assets, as to the Group 3 Trust Assets, as to the Group 4 Trust Assets, as to the Group 5 Trust Assets, as to the Group 6 Trust Assets, as to the Group 7 Trust Assets, as to the Group 8 Trust Assets, as to the Group 9 Trust Assets and as to the Group 10 Trust Assets, and a Double REMIC Series as to the Group 11 Trust Assets, each for United States federal income tax purposes. Separate REMIC elections will be made for the Group 1 REMIC, the Group 2 REMIC, the Group 3 REMIC, the Group 4 REMIC, the Group 5 REMIC, the Group 6 REMIC, the Group 7 REMIC, the Group 8 REMIC, the Group 9 REMIC, the Group 10 REMIC, the Group 11 Pooling REMIC and the Group 11 Issuing REMIC.

Regular Securities

The Regular Securities will be treated as debt instruments issued by the Group 1 REMIC, the Group 2 REMIC, the Group 3 REMIC, the Group 4 REMIC, the Group 5 REMIC, the Group 6 REMIC, the Group 7 REMIC, the Group 8 REMIC, the Group 9 REMIC, the Group 10 REMIC or the Group 11 Issuing REMIC, as applicable, for United States federal income tax purposes. Income on the Regular Securities must be reported under an accrual method of accounting.

The Notional and Accrual Classes of Regular Securities will be issued with original issue discount (“OID”), and certain other Classes of Regular Securities may be issued with OID. See “Certain United States Federal Income Tax Consequences — Tax Treatment of Regular Securities — Original Issue Discount,” “— Variable Rate Securities” and “— Interest Weighted Securities and Non-VRDI Securities” in the Base Offering Circular.

The prepayment assumption that should be used in determining the rates of accrual of OID, if any, on the Regular Securities (as described in “Yield, Maturity and Prepayment Considerations” in this Sup-plement) is as follows:

Group(s) PSA

1 and 10 2 3

4, 5, 6 and 7 8 and 9

11

380% 250% 300% 220% 275% 320%

In the case of the Floating Rate Classes, the interest rate values to be used for these determinations are the initial Interest Rates as set forth in the Terms Sheet under “Interest Rates.” No representation is made, however, about the rate at which prepayments on the Mortgage Loans underlying any Group of Trust Assets actually will occur or the level of LIBOR at any time after the date of this Supplement. See “Certain United States Federal Income Tax Consequences” in the Base Offering Circular.

The Regular Securities generally will be treated as “regular interests” in a REMIC for domestic build-ing and loan associations and “real estate assets” for real estate investment trusts (“REITs”) as described in “Certain United States Federal Income Tax Consequences” in the Base Offering Circular. Similarly, interest on the Regular Securities will be considered “interest on obligations secured by mortgages on real property” for REITs as described in “Certain United States Federal Income Tax Consequences” in the Base Offering Circular.

S-42

Residual Securities

The Class R1 Securities will represent the beneficial ownership of the Residual Interest in the Group 1 REMIC. The Class R2 Securities will represent the beneficial ownership of the Residual Interest in the Group 2 REMIC. The Class R3 Securities will represent the beneficial ownership of the Residual Interest in the Group 3 REMIC. The Class R4 Securities will represent the beneficial ownership of the Residual Interest in the Group 4 REMIC. The Class R5 Securities will represent the beneficial ownership of the Residual Interest in the Group 5 REMIC. The Class R6 Securities will represent the beneficial ownership of the Residual Interest in the Group 6 REMIC. The Class R7 Securities will represent the beneficial ownership of the Residual Interest in the Group 7 REMIC. The Class R8 Securities will repre-sent the beneficial ownership of the Residual Interest in the Group 8 REMIC. The Class R9 Securities will represent the beneficial ownership of the Residual Interest in the Group 9 REMIC. The Class R10 Secu-rities will represent the beneficial ownership of the Residual Interest in the Group 10 REMIC. The Class RR11 Securities will represent the beneficial ownership of the Residual Interest in the Group 11 Pooling REMIC and the beneficial ownership of the Residual Interest in the Group 11 Issuing REMIC. The Residual Securities, i.e., the Class R1, R2, R3, R4, R5, R6, R7, R8, R9, R10 and RR11 Securities, generally will be treated as “residual interests” in a REMIC for domestic building and loan associations and as “real estate assets” for REITs, as described in “Certain United States Federal Income Tax Consequences” in the Base Offering Circular, but will not be treated as debt for United States federal income tax purposes. Instead, the Holders of the Residual Securities will be required to report, and will be taxed on, their pro rata shares of the taxable income or loss of the related Trust REMIC or Trust REMICs, as applicable, and these requirements will continue until there are no outstanding regular interests in the respective Trust REMIC or Trust REMICs, as applicable. Thus, Residual Holders will have taxable income attributable to the Residual Securities even though they will not receive principal or interest distributions with respect to the Residual Securities, which could result in a negative after-tax return for the Residual Holders. Even though the Holders of the Residual Securities are not entitled to any stated principal or interest payments on the Residual Securities, the related Trust REMIC or Trust REMICs, as applicable, may have substantial taxable income in certain periods, and offsetting tax losses may not occur until much later periods. Accordingly, the Holders of the Residual Securities may experience substantial adverse tax tim-ing consequences. Prospective investors are urged to consult their own tax advisors and consider the after-tax effect of ownership of the Residual Securities and the suitability of the Residual Securities to their investment objectives.

Prospective Holders of Residual Securities should be aware that, at issuance, based on the expected prices of the Regular and Residual Securities and the prepayment assumption described above, the residual interests represented by the Residual Securities will be treated as “noneconomic residual inter-ests” as that term is defined in Treasury regulations.

OID accruals on the Underlying Certificates will be computed using the same prepayment assump-tion as set forth under “Certain United States Federal Income Tax Consequences — Regular Securities” in this Supplement.

MX Securities

For a discussion of certain United States federal income tax consequences applicable to the MX Classes, see “Certain United States Federal Income Tax Consequences — Tax Treatment of MX Securities”, “— Exchanges of MX Classes and Regular Classes” and “— Taxation of Foreign Holders of REMIC Secu-rities and MX Securities” in the Base Offering Circular.

Investors should consult their own tax advisors in determining the United States federal, state, local, foreign and any other tax consequences to them of the purchase, ownership and disposition of the Securities.

S-43

ERISA MATTERS

Ginnie Mae guarantees distributions of principal and interest with respect to the Securities. The Ginnie Mae Guaranty is supported by the full faith and credit of the United States of America. The Regu-lar and MX Securities will qualify as “guaranteed governmental mortgage pool certificates” within the meaning of a Department of Labor regulation, the effect of which is to provide that mortgage loans and participations therein underlying a “guaranteed governmental mortgage pool certificate” will not be considered assets of an employee benefit plan subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or subject to Section 4975 of the Code (each, a “Plan”), solely by reason of the Plan’s purchase and holding of that certificate. Fiduciaries of any such Plans should consult with their counsel before purchasing any of the Securities.

Prospective Plan investors should consult with their advisors to determine whether the purchase, holding or resale of a Security could give rise to a transaction that is prohibited or is not otherwise permissible under either ERISA or the Code.

Governmental plans and certain church plans, while not subject to the fiduciary responsibility provi-sions of ERISA or the prohibited transaction provisions of ERISA and the Code, may nevertheless be subject to local, state or other federal laws that are substantially similar to the foregoing provisions of ERISA and the Code. Fiduciaries of any such plans should consult with their counsel before purchasing any of the Securities.

See “ERISA Considerations” in the Base Offering Circular.

The Residual Securities are not offered to, and may not be transferred to, a Plan Investor.

LEGAL INVESTMENT CONSIDERATIONS

Institutions whose investment activities are subject to legal investment laws and regulations or to review by certain regulatory authorities may be subject to restrictions on investment in the Securities. No representation is made about the proper characterization of any Class for legal investment or other purposes, or about the permissibility of the purchase by particular investors of any Class under applicable legal investment restrictions.

Investors should consult their own legal advisors regarding applicable investment restrictions and the effect of any restrictions on the liquidity of the Securities prior to investing in the Securities.

See “Legal Investment Considerations” in the Base Offering Circular.

PLAN OF DISTRIBUTION

Subject to the terms and conditions of the Sponsor Agreement, the Sponsor has agreed to purchase all of the Securities if any are sold and purchased. The Sponsor proposes to offer the Regular and MX Classes to the public from time to time for sale in negotiated transactions at varying prices to be determined at the time of sale, plus accrued interest from (1) July 1, 2020 on the Fixed Rate and Delay Classes and (2) July 20, 2020 on the Floating Rate and Inverse Floating Rate Classes. The Sponsor may effect these transactions by sales to or through certain securities dealers. These dealers may receive compensation in the form of discounts, concessions or commissions from the Sponsor and/or commis-sions from any purchasers for which they act as agents. Some of the Securities may be sold through dealers in relatively small sales. In the usual case, the commission charged on a relatively small sale of securities will be a higher percentage of the sales price than that charged on a large sale of securities.

S-44

INCREASE IN SIZE

Before the Closing Date, Ginnie Mae, the Trustee and the Sponsor may agree to increase the size of this offering. In that event, the Securities will have the same characteristics as described in this Supple-ment, except that (1) the Original Class Principal Balance (or original Class Notional Balance) and (2) the Scheduled Principal Balances or Aggregate Scheduled Principal Balances of each Class receiving principal distributions or interest distributions based upon a notional balance from the same Trust Asset Group will increase by the same proportion. The Trust Agreement, the Final Data Statement, the Final Schedules and the Supplemental Statement, if any, will reflect any increase in the size of the transaction.

LEGAL MATTERS

Certain legal matters will be passed upon for Ginnie Mae by Hunton Andrews Kurth LLP, for the Trust by Cleary Gottlieb Steen & Hamilton LLP and Marcell Solomon & Associates, P.C., and for the Trustee by Nixon Peabody LLP.

S-45

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FIX

38

382G

TE2

Ju

ly 2

050

BD

(7)

195,

562,

202

Com

bina

tion

9 AG

(7)

$107

,757

,888

PG

$3

03,3

20,0

90

PAC/A

D

2.50

%

FIX

38

382G

TF9

Ju

ly 2

050

BH

(7)

195,

562,

202

Com

bina

tion

10

AI(

7)

$ 76

,969

,920

PI

$2

16,6

57,2

07

NTL(

PAC/A

D)

3.50

%

FIX/I

O

3838

2GTG

7 Ju

ly 2

050

BI(

7)

139,

687,

287

Secu

rity

Gro

up

3

Com

bina

tion

11

DA

$

71,3

20,6

40

D

$100

,000

,000

PT

1.

25%

FI

X

3838

2GTH

5 Ju

ly 2

050

DB

28

,679

,360

Se

curi

ty G

rou

ps

4 an

d 5

Com

bina

tion

12(6

) CA

$

16,8

20,0

00

CG

$

24,4

00,0

00

SC/P

AC/A

D

3.00

%

FIX

38

382G

TJ1

Ju

ly 2

050

CM

7,

580,

000

RE

MIC

Sec

uri

ties

M

X S

ecu

riti

es

S-I-3

Max

imu

mO

rigi

nal

Cla

ss

Ori

gin

al C

lass

P

rin

cip

al B

alan

ce

Pri

nci

pal

Bal

ance

Fi

nal

o

r C

lass

R

elat

ed

or

Cla

ss N

oti

on

al

Pri

nci

pal

In

tere

st

Inte

rest

C

USI

P

Dis

trib

uti

on

Cla

ss

No

tio

nal

Bal

ance

M

X C

lass

B

alan

ce(2

) T

ype(

3)

Rat

e T

ype(

3)

Nu

mb

er

Dat

e(4)

Secu

rity

Gro

up

s 4,

5 a

nd

7

Com

bina

tion

13(6

) CB

$

457,

000

CE

$ 10

,555

,000

SC

/PAC/A

D

3.00

%

FIX

38

382G

TL6

Ju

ly 2

050

CH

9,

943,

000

CN

15

5,00

0 Se

curi

ty G

rou

ps

4, 5

, 6 a

nd

7

Com

bina

tion

14(6

) CZ

$

2,00

2,65

3 ZX

$

9,14

8,13

3 SC

/SU

P (8

) W

AC/Z

/DLY

38

382G

TK

8 Ju

ly 2

050

QZ

5,

220,

995

ZC

81

3,45

8 ZH

1,

111,

027

Secu

rity

Gro

up

8

Com

bina

tion

15

AJ

$ 38

,846

,000

H

$

96,9

98,5

16

SC/P

T

2.60

%

FIX

38

382G

TM

4 April 2

050

JA

37,5

87,0

00

JZ

10,0

32,5

47

ZJ

10,5

32,9

69

Com

bina

tion

16

AJ

$ 38

,846

,000

H

P $

76,4

33,0

00

SC/P

AC/A

D

2.60

%

FIX

38

382G

TN

2 April 2

050

JA

37,5

87,0

00

Com

bina

tion

17

JZ

$ 10

,032

,547

H

Z

$ 20

,565

,516

SC

/SU

P 2.

60%

FI

X/Z

38

382G

TP7

April 2

050

ZJ

10,5

32,9

69

Com

bina

tion

18

AJ

$ 38

,846

,000

H

M

$ 76

,433

,000

SC

/PAC/A

D

2.60

%

FIX

38

382G

TQ

5 April 2

050

JA

37,5

87,0

00

Secu

rity

Gro

up

9

Com

bina

tion

19

GA

$

11,3

73,0

00

GP

$ 24

,331

,000

SC

/PAC/A

D

2.50

%

FIX

38

382G

TR3

July

205

0 G

B

12,9

58,0

00

RE

MIC

Sec

uri

ties

M

X S

ecu

riti

es

S-I-4

Max

imu

mO

rigi

nal

Cla

ss

Ori

gin

al C

lass

P

rin

cip

al B

alan

ce

Pri

nci

pal

Bal

ance

Fi

nal

o

r C

lass

R

elat

ed

or

Cla

ss N

oti

on

al

Pri

nci

pal

In

tere

st

Inte

rest

C

USI

P

Dis

trib

uti

on

Cla

ss

No

tio

nal

Bal

ance

M

X C

lass

B

alan

ce(2

) T

ype(

3)

Rat

e T

ype(

3)

Nu

mb

er

Dat

e(4)

Com

bina

tion

20

BZ

$

3,07

5,68

7 G

Z

$ 6,

576,

803

SC/S

UP

2.50

%

FIX/Z

38

382G

TS1

Ju

ly 2

050

ZB

3,

501,

116

Com

bina

tion

21

BZ

$

3,07

5,68

7 G

$

30,9

07,8

03

PT

2.50

%

FIX

38

382G

TT9

July

205

0 G

A

11,3

73,0

00

GB

12

,958

,000

ZB

3,

501,

116

Secu

rity

Gro

up

10

Com

bina

tion

22

KA

$

66,1

22,9

14

KB

$

66,1

22,9

14

PT

1.00

%

FIX

38

382G

TU

6 Ju

ly 2

050

KI

4,72

3,06

5 N

TL(

PT)

3.50

FI

X/I

O

3838

2GTV4

July

205

0 Com

bina

tion

23

KA

$

66,1

22,9

14

KC

$

69,4

29,0

60

PT

1.50

%

FIX

38

382G

TW

2 Ju

ly 2

050

KF

3,30

6,14

6 K

S 3,

306,

146

Secu

rity

Gro

up

s 1

and

10

Com

bina

tion

24(6

) CP(

7)

$107

,757

,888

K

D

$173

,880

,802

PT

/PAC/A

D

1.25

%

FIX

38

382G

TX0

July

205

0 K

A

66,1

22,9

14

Secu

rity

Gro

up

11

Com

bina

tion

25

ES

$ 25

,200

,000

S

$ 43

,500

,341

N

TL(

PT)

(8)

INV/I

O

3838

2GTY

8 Ju

ly 2

050

SE

18,3

00,3

41

(1)

All

exch

ange

s m

ust co

mply

with

min

imum

den

omin

atio

n re

strict

ions

.

(2)

The

am

ount

sho

wn

for

each

MX

Cla

ss r

epre

sent

s th

e m

axim

um O

rigi

nal Cla

ss P

rinc

ipal

Bal

ance

(or

origi

nal Cla

ss N

otio

nal Bal

ance

) of

th

at C

lass

, ass

umin

g it

wer

e to

be

issu

ed o

n th

e Clo

sing

Dat

e.

(3)

As

defin

ed u

nder

“Cla

ss T

ypes

” in

Appen

dix

I to

the

Bas

e O

ffer

ing

Circu

lar.

(4)

See

“Yie

ld, M

atu

rity

an

d P

repa

ymen

t Con

sider

ation

s —

Fin

al D

istr

ibu

tion

Date

” in

this

Su

pple

men

t.

(5)

In t

he c

ase

of C

ombi

natio

ns 1

and

2,

variou

s su

bcom

bina

tions

are

per

mitt

ed.

See

“Des

crip

tion

of

the

Secu

rities

— M

odif

ication

an

d

Exch

an

ge”

in th

e B

ase

Off

erin

g C

ircu

lar

for

a d

iscu

ssio

n o

f su

bcom

bin

ation

s.

(6)

Der

ived

fro

m R

EMIC

Cla

sses

rel

atin

g to

sep

arat

e G

roup

s.

(7)

MX

Cla

ss

(8)

The

Int

eres

t Rat

e w

ill b

e ca

lcul

ated

as

desc

ribe

d un

der “T

erm

s Sh

eet —

Int

eres

t Rat

es”

in thi

s Su

pple

men

t.

S-I-5

Schedule II

SCHEDULED PRINCIPAL BALANCES

Classes CA and CB Distribution Date Class PM Class PQ Class P (in the aggregate)

Initial Balance . . . . . . . . . . . . . . . . $195,562,202.00 $107,757,888.00 $44,902,003.00 $17,277,000.00 August 2020 . . . . . . . . . . . . . . . . . 194,456,839.96 107,148,815.91 44,731,527.47 17,044,678.33 September 2020 . . . . . . . . . . . . . . 193,228,484.34 106,471,972.40 44,544,015.46 16,814,624.13 October 2020 . . . . . . . . . . . . . . . . 191,878,358.08 105,728,031.33 44,339,575.12 16,586,814.92 November 2020 . . . . . . . . . . . . . . 190,407,906.54 104,917,789.10 44,118,332.05 16,361,228.47 December 2020 . . . . . . . . . . . . . . 188,818,795.86 104,042,163.81 43,880,429.18 16,137,842.73 January 2021 . . . . . . . . . . . . . . . . . 187,112,910.72 103,102,193.93 43,626,026.67 15,916,635.87 February 2021 . . . . . . . . . . . . . . . . 185,292,351.36 102,099,036.73 43,355,301.72 15,697,586.27 March 2021 . . . . . . . . . . . . . . . . . . 183,359,429.94 101,033,966.24 43,068,448.41 15,480,672.53 April 2021 . . . . . . . . . . . . . . . . . . . 181,316,666.27 99,908,370.92 42,765,677.52 15,265,873.42 May 2021 . . . . . . . . . . . . . . . . . . . 179,166,782.88 98,723,750.93 42,447,216.20 15,053,167.96 June 2021 . . . . . . . . . . . . . . . . . . . 176,912,699.37 97,481,715.02 42,113,307.78 14,842,535.32 July 2021 . . . . . . . . . . . . . . . . . . . . 174,557,526.26 96,183,977.12 41,764,211.46 14,633,954.90 August 2021 . . . . . . . . . . . . . . . . . 172,104,558.05 94,832,352.56 41,400,201.92 14,427,406.29 September 2021 . . . . . . . . . . . . . . 169,557,265.82 93,428,753.97 41,021,569.04 14,222,869.28 October 2021 . . . . . . . . . . . . . . . . 166,919,289.17 91,975,186.82 40,628,617.48 14,020,323.83 November 2021 . . . . . . . . . . . . . . 164,194,427.62 90,473,744.71 40,221,666.27 13,819,750.12 December 2021 . . . . . . . . . . . . . . 161,386,631.51 88,926,604.33 39,801,048.37 13,621,128.50 January 2022 . . . . . . . . . . . . . . . . . 158,499,992.28 87,336,020.14 39,367,110.24 13,424,439.51 February 2022 . . . . . . . . . . . . . . . . 155,538,732.47 85,704,318.82 38,920,211.32 13,229,663.90 March 2022 . . . . . . . . . . . . . . . . . . 152,507,195.06 84,033,893.43 38,460,723.54 13,036,782.56 April 2022 . . . . . . . . . . . . . . . . . . . 149,409,832.61 82,327,197.38 37,989,030.78 12,845,776.59 May 2022 . . . . . . . . . . . . . . . . . . . 146,251,195.85 80,586,738.22 37,505,528.34 12,656,627.28 June 2022 . . . . . . . . . . . . . . . . . . . 143,035,922.11 78,815,071.18 37,010,622.34 12,469,316.08 July 2022 . . . . . . . . . . . . . . . . . . . . 139,768,723.32 77,014,792.61 36,504,729.15 12,283,824.61 August 2022 . . . . . . . . . . . . . . . . . 136,454,373.87 75,188,533.27 35,988,274.76 12,100,134.70 September 2022 . . . . . . . . . . . . . . 133,207,708.19 73,399,568.77 35,461,694.20 11,918,228.31 October 2022 . . . . . . . . . . . . . . . . 130,027,338.58 71,647,134.46 34,925,430.84 11,738,087.60 November 2022 . . . . . . . . . . . . . . 126,911,905.48 69,930,481.20 34,395,357.16 11,559,694.89 December 2022 . . . . . . . . . . . . . . 123,860,076.80 68,248,874.99 33,871,401.73 11,383,032.69 January 2023 . . . . . . . . . . . . . . . . . 120,870,547.48 66,601,596.72 33,353,493.91 11,208,083.64 February 2023 . . . . . . . . . . . . . . . . 117,942,038.85 64,987,941.82 32,841,563.87 11,034,830.58 March 2023 . . . . . . . . . . . . . . . . . . 115,073,298.17 63,407,220.02 32,335,542.54 10,863,256.49 April 2023 . . . . . . . . . . . . . . . . . . . 112,263,098.08 61,858,755.01 31,835,361.64 10,693,344.53 May 2023 . . . . . . . . . . . . . . . . . . . 109,510,236.07 60,341,884.20 31,340,953.65 10,525,078.01 June 2023 . . . . . . . . . . . . . . . . . . . 106,813,534.03 58,855,958.42 30,852,251.81 10,358,440.41 July 2023 . . . . . . . . . . . . . . . . . . . . 104,171,837.71 57,400,341.67 30,369,190.11 10,193,415.34 August 2023 . . . . . . . . . . . . . . . . . 101,584,016.28 55,974,410.85 29,891,703.29 10,029,986.62 September 2023 . . . . . . . . . . . . . . 99,048,961.81 54,577,555.46 29,419,726.81 9,868,138.16 October 2023 . . . . . . . . . . . . . . . . 96,565,588.88 53,209,177.42 28,953,196.86 9,707,854.08 November 2023 . . . . . . . . . . . . . . 94,132,834.04 51,868,690.76 28,492,050.35 9,549,118.62 December 2023 . . . . . . . . . . . . . . 91,749,655.45 50,555,521.40 28,036,224.89 9,391,916.17 January 2024 . . . . . . . . . . . . . . . . . 89,415,032.40 49,269,106.91 27,585,658.80 9,236,231.29 February 2024 . . . . . . . . . . . . . . . . 87,127,964.88 48,008,896.28 27,140,291.10 9,082,048.68 March 2024 . . . . . . . . . . . . . . . . . . 84,887,473.19 46,774,349.68 26,700,061.47 8,929,353.17

S-II-1


April 2024 . . . . . . . . . . . . . . . . . . . $ 82,692,597.52 $ 45,564,938.22 $26,264,910.30 $ 8,778,129.75 May 2024 . . . . . . . . . . . . . . . . . . . 80,542,397.53 44,380,143.78 25,834,778.63 8,628,363.56 June 2024 . . . . . . . . . . . . . . . . . . . 78,435,952.00 43,219,458.74 25,409,608.16 8,480,039.86 July 2024 . . . . . . . . . . . . . . . . . . . . 76,372,358.40 42,082,385.80 24,989,341.27 8,333,144.08 August 2024 . . . . . . . . . . . . . . . . . 74,353,583.50 40,970,008.68 24,573,920.97 8,187,661.76 September 2024 . . . . . . . . . . . . . . 72,387,449.06 39,886,637.29 24,163,290.91 8,043,578.60 October 2024 . . . . . . . . . . . . . . . . 70,472,596.81 38,831,523.20 23,757,395.38 7,900,880.42 November 2024 . . . . . . . . . . . . . . 68,607,703.25 37,803,937.15 23,356,179.30 7,759,553.20 December 2024 . . . . . . . . . . . . . . 66,791,478.73 36,803,168.51 22,959,588.20 7,619,583.03 January 2025 . . . . . . . . . . . . . . . . . 65,022,666.64 35,828,524.87 22,567,568.24 7,480,956.14 February 2025 . . . . . . . . . . . . . . . . 63,300,042.51 34,879,331.54 22,180,066.17 7,343,658.91 March 2025 . . . . . . . . . . . . . . . . . . 61,622,413.25 33,954,931.10 21,797,029.35 7,207,677.81 April 2025 . . . . . . . . . . . . . . . . . . . 59,988,616.33 33,054,682.97 21,418,405.72 7,072,999.48 May 2025 . . . . . . . . . . . . . . . . . . . 58,397,518.98 32,177,962.99 21,044,143.84 6,939,610.67 June 2025 . . . . . . . . . . . . . . . . . . . 56,848,017.49 31,324,162.99 20,674,192.80 6,807,498.27 July 2025 . . . . . . . . . . . . . . . . . . . . 55,339,036.39 30,492,690.37 20,308,502.30 6,676,649.26 August 2025 . . . . . . . . . . . . . . . . . 53,869,527.80 29,682,967.73 19,947,022.61 6,547,050.79 September 2025 . . . . . . . . . . . . . . 52,438,470.70 28,894,432.48 19,589,704.53 6,418,994.78 October 2025 . . . . . . . . . . . . . . . . 51,044,870.26 28,126,536.44 19,236,499.45 6,292,806.73 November 2025 . . . . . . . . . . . . . . 49,687,757.13 27,378,745.49 18,887,359.28 6,168,459.25 December 2025 . . . . . . . . . . . . . . 48,366,186.86 26,650,539.22 18,542,236.50 6,045,925.33 January 2026 . . . . . . . . . . . . . . . . . 47,079,239.20 25,941,410.56 18,201,084.09 5,925,178.37 February 2026 . . . . . . . . . . . . . . . . 45,826,017.53 25,250,865.46 17,863,855.60 5,806,192.12 March 2026 . . . . . . . . . . . . . . . . . . 44,605,648.25 24,578,422.55 17,530,505.08 5,688,940.71 April 2026 . . . . . . . . . . . . . . . . . . . 43,417,280.15 23,923,612.80 17,201,473.78 5,573,398.65 May 2026 . . . . . . . . . . . . . . . . . . . 42,260,083.91 23,285,979.24 16,878,421.18 5,459,540.80 June 2026 . . . . . . . . . . . . . . . . . . . 41,133,251.49 22,665,076.63 16,561,241.05 5,347,342.38 July 2026 . . . . . . . . . . . . . . . . . . . . 40,035,995.59 22,060,471.15 16,249,829.04 5,236,778.97 August 2026 . . . . . . . . . . . . . . . . . 38,967,549.17 21,471,740.16 15,944,082.59 5,127,826.49 September 2026 . . . . . . . . . . . . . . 37,927,164.87 20,898,471.84 15,643,900.96 5,020,461.20 October 2026 . . . . . . . . . . . . . . . . 36,914,114.53 20,340,264.96 15,349,185.16 4,914,659.72 November 2026 . . . . . . . . . . . . . . 35,927,688.73 19,796,728.64 15,059,837.94 4,810,398.97 December 2026 . . . . . . . . . . . . . . 34,967,196.28 19,267,482.00 14,775,763.74 4,707,656.23 January 2027 . . . . . . . . . . . . . . . . . 34,031,963.76 18,752,153.98 14,496,868.68 4,606,409.09 February 2027 . . . . . . . . . . . . . . . . 33,121,335.06 18,250,383.07 14,223,060.53 4,506,635.44 March 2027 . . . . . . . . . . . . . . . . . . 32,234,670.97 17,761,817.03 13,954,248.66 4,408,313.53 April 2027 . . . . . . . . . . . . . . . . . . . 31,371,348.71 17,286,112.72 13,690,344.05 4,311,421.88 May 2027 . . . . . . . . . . . . . . . . . . . 30,530,761.53 16,822,935.80 13,431,259.20 4,215,939.34 June 2027 . . . . . . . . . . . . . . . . . . . 29,712,318.31 16,371,960.54 13,176,908.19 4,121,845.05 July 2027 . . . . . . . . . . . . . . . . . . . . 28,915,443.12 15,932,869.62 12,927,206.57 4,029,118.45 August 2027 . . . . . . . . . . . . . . . . . 28,139,574.89 15,505,353.87 12,682,071.39 3,937,739.27 September 2027 . . . . . . . . . . . . . . 27,384,166.98 15,089,112.08 12,441,421.15 3,847,687.55 October 2027 . . . . . . . . . . . . . . . . 26,648,686.85 14,683,850.81 12,205,175.77 3,758,943.58 November 2027 . . . . . . . . . . . . . . 25,932,615.66 14,289,284.18 11,973,256.59 3,671,487.96 December 2027 . . . . . . . . . . . . . . 25,235,447.96 13,905,133.68 11,745,586.32 3,585,301.57 January 2028 . . . . . . . . . . . . . . . . . 24,556,691.33 13,531,127.96 11,522,089.03 3,500,365.53 February 2028 . . . . . . . . . . . . . . . . 23,895,866.03 13,167,002.70 11,302,690.12 3,416,661.26 March 2028 . . . . . . . . . . . . . . . . . . 23,252,504.70 12,812,500.36 11,087,316.31 3,334,170.44

S-II-2


April 2028 . . . . . . . . . . . . . . . . . . . $ 22,626,152.04 $ 12,467,370.07 $10,875,895.59 $ 3,252,875.00 May 2028 . . . . . . . . . . . . . . . . . . . 22,016,364.49 12,131,367.41 10,668,357.22 3,172,757.15 June 2028 . . . . . . . . . . . . . . . . . . . 21,422,709.94 11,804,254.30 10,464,631.72 3,093,799.33 July 2028 . . . . . . . . . . . . . . . . . . . . 20,844,767.42 11,485,798.77 10,264,650.81 3,015,984.25 August 2028 . . . . . . . . . . . . . . . . . 20,282,126.85 11,175,774.85 10,068,347.43 2,939,294.86 September 2028 . . . . . . . . . . . . . . 19,734,388.72 10,873,962.42 9,875,655.67 2,863,714.35 October 2028 . . . . . . . . . . . . . . . . 19,201,163.86 10,580,147.03 9,686,510.81 2,789,226.16 November 2028 . . . . . . . . . . . . . . 18,682,073.13 10,294,119.76 9,500,849.24 2,715,813.97 December 2028 . . . . . . . . . . . . . . 18,176,747.19 10,015,677.13 9,318,608.51 2,643,461.67 January 2029 . . . . . . . . . . . . . . . . . 17,684,826.27 9,744,620.86 9,139,727.22 2,572,153.40 February 2029 . . . . . . . . . . . . . . . . 17,205,959.86 9,480,757.85 8,964,145.09 2,501,873.53 March 2029 . . . . . . . . . . . . . . . . . . 16,739,806.56 9,223,899.95 8,791,802.87 2,432,606.65 April 2029 . . . . . . . . . . . . . . . . . . . 16,286,033.77 8,973,863.91 8,622,642.39 2,364,337.57 May 2029 . . . . . . . . . . . . . . . . . . . 15,844,317.48 8,730,471.21 8,456,606.48 2,297,051.31 June 2029 . . . . . . . . . . . . . . . . . . . 15,414,342.11 8,493,547.93 8,293,638.98 2,230,733.11 July 2029 . . . . . . . . . . . . . . . . . . . . 14,995,800.21 8,262,924.67 8,133,684.71 2,165,368.44 August 2029 . . . . . . . . . . . . . . . . . 14,588,392.30 8,038,436.43 7,976,689.50 2,100,942.95 September 2029 . . . . . . . . . . . . . . 14,191,826.65 7,819,922.44 7,822,600.09 2,037,442.51 October 2029 . . . . . . . . . . . . . . . . 13,805,819.10 7,607,226.13 7,671,364.19 1,974,853.19 November 2029 . . . . . . . . . . . . . . 13,430,092.84 7,400,194.97 7,522,930.42 1,913,161.26 December 2029 . . . . . . . . . . . . . . 13,064,378.22 7,198,680.40 7,377,248.31 1,852,353.20 January 2030 . . . . . . . . . . . . . . . . . 12,708,412.62 7,002,537.68 7,234,268.29 1,792,415.66 February 2030 . . . . . . . . . . . . . . . . 12,361,940.18 6,811,625.85 7,093,941.64 1,733,335.50 March 2030 . . . . . . . . . . . . . . . . . . 12,024,711.70 6,625,807.59 6,956,220.53 1,675,099.76 April 2030 . . . . . . . . . . . . . . . . . . . 11,696,484.45 6,444,949.14 6,821,057.96 1,617,695.67 May 2030 . . . . . . . . . . . . . . . . . . . 11,377,021.98 6,268,920.23 6,688,407.76 1,561,110.65 June 2030 . . . . . . . . . . . . . . . . . . . 11,066,093.98 6,097,593.95 6,558,224.58 1,505,332.29 July 2030 . . . . . . . . . . . . . . . . . . . . 10,763,476.13 5,930,846.70 6,430,463.87 1,450,348.37 August 2030 . . . . . . . . . . . . . . . . . 10,468,949.91 5,768,558.06 6,305,081.87 1,396,146.82 September 2030 . . . . . . . . . . . . . . 10,182,302.51 5,610,610.78 6,182,035.59 1,342,715.78 October 2030 . . . . . . . . . . . . . . . . 9,903,326.62 5,456,890.62 6,061,282.81 1,290,043.54 November 2030 . . . . . . . . . . . . . . 9,631,820.33 5,307,286.33 5,942,782.05 1,238,118.56 December 2030 . . . . . . . . . . . . . . 9,367,586.96 5,161,689.53 5,826,492.56 1,186,929.46 January 2031 . . . . . . . . . . . . . . . . . 9,110,434.97 5,019,994.69 5,712,374.33 1,136,465.04 February 2031 . . . . . . . . . . . . . . . . 8,860,177.77 4,882,098.99 5,600,388.03 1,086,714.26 March 2031 . . . . . . . . . . . . . . . . . . 8,616,633.66 4,747,902.30 5,490,495.05 1,037,666.22 April 2031 . . . . . . . . . . . . . . . . . . . 8,379,625.63 4,617,307.10 5,382,657.47 989,310.20 May 2031 . . . . . . . . . . . . . . . . . . . 8,148,981.30 4,490,218.40 5,276,838.02 941,635.61 June 2031 . . . . . . . . . . . . . . . . . . . 7,924,532.77 4,366,543.69 5,173,000.09 894,632.04 July 2031 . . . . . . . . . . . . . . . . . . . . 7,706,116.52 4,246,192.86 5,071,107.76 848,289.22 August 2031 . . . . . . . . . . . . . . . . . 7,493,573.28 4,129,078.14 4,971,125.69 802,597.01 September 2031 . . . . . . . . . . . . . . 7,286,747.92 4,015,114.08 4,873,019.21 757,545.44 October 2031 . . . . . . . . . . . . . . . . 7,085,489.37 3,904,217.41 4,776,754.24 713,124.68 November 2031 . . . . . . . . . . . . . . 6,889,650.49 3,796,307.07 4,682,297.34 669,325.03 December 2031 . . . . . . . . . . . . . . 6,699,087.99 3,691,304.10 4,589,615.62 626,136.94 January 2032 . . . . . . . . . . . . . . . . . 6,513,662.29 3,589,131.58 4,498,676.80 583,551.00 February 2032 . . . . . . . . . . . . . . . . 6,333,237.47 3,489,714.63 4,409,449.17 541,557.92 March 2032 . . . . . . . . . . . . . . . . . . 6,157,681.15 3,392,980.31 4,321,901.58 500,148.57

S-II-3


April 2032 . . . . . . . . . . . . . . . . . . . $ 5,986,864.43 $ 3,298,857.57 $ 4,236,003.45 $ 459,313.93 May 2032 . . . . . . . . . . . . . . . . . . . 5,820,661.73 3,207,277.24 4,151,724.72 419,045.12 June 2032 . . . . . . . . . . . . . . . . . . . 5,658,950.79 3,118,171.93 4,069,035.88 379,333.39 July 2032 . . . . . . . . . . . . . . . . . . . . 5,501,612.52 3,031,476.04 3,987,907.95 340,795.13 August 2032 . . . . . . . . . . . . . . . . . 5,348,530.96 2,947,125.66 3,908,312.44 332,224.25 September 2032 . . . . . . . . . . . . . . 5,199,593.16 2,865,058.56 3,830,221.40 323,787.55 October 2032 . . . . . . . . . . . . . . . . 5,054,689.15 2,785,214.15 3,753,607.36 315,482.96 November 2032 . . . . . . . . . . . . . . 4,913,711.82 2,707,533.39 3,678,443.34 307,308.47 December 2032 . . . . . . . . . . . . . . 4,776,556.86 2,631,958.82 3,604,702.85 299,262.05 January 2033 . . . . . . . . . . . . . . . . . 4,643,122.69 2,558,434.47 3,532,359.86 291,341.74 February 2033 . . . . . . . . . . . . . . . . 4,513,310.41 2,486,905.84 3,461,388.82 283,545.60 March 2033 . . . . . . . . . . . . . . . . . . 4,387,023.69 2,417,319.84 3,391,764.62 275,871.70 April 2033 . . . . . . . . . . . . . . . . . . . 4,264,168.72 2,349,624.80 3,323,462.61 268,318.16 May 2033 . . . . . . . . . . . . . . . . . . . 4,144,654.16 2,283,770.37 3,256,458.58 260,883.12 June 2033 . . . . . . . . . . . . . . . . . . . 4,028,391.06 2,219,707.55 3,190,728.75 253,564.74 July 2033 . . . . . . . . . . . . . . . . . . . . 3,915,292.81 2,157,388.61 3,126,249.75 246,361.22 August 2033 . . . . . . . . . . . . . . . . . 3,805,275.06 2,096,767.08 3,062,998.65 239,270.78 September 2033 . . . . . . . . . . . . . . 3,698,255.67 2,037,797.70 3,000,952.92 232,291.67 October 2033 . . . . . . . . . . . . . . . . 3,594,154.68 1,980,436.39 2,940,090.44 225,422.15 November 2033 . . . . . . . . . . . . . . 3,492,894.20 1,924,640.26 2,880,389.48 218,660.53 December 2033 . . . . . . . . . . . . . . 3,394,398.41 1,870,367.50 2,821,828.69 212,005.13 January 2034 . . . . . . . . . . . . . . . . . 3,298,593.46 1,817,577.45 2,764,387.11 205,454.29 February 2034 . . . . . . . . . . . . . . . . 3,205,407.45 1,766,230.48 2,708,044.18 199,006.39 March 2034 . . . . . . . . . . . . . . . . . . 3,114,770.38 1,716,288.01 2,652,779.66 192,659.82 April 2034 . . . . . . . . . . . . . . . . . . . 3,026,614.08 1,667,712.48 2,598,573.71 186,413.00 May 2034 . . . . . . . . . . . . . . . . . . . 2,940,872.17 1,620,467.32 2,545,406.83 180,264.38 June 2034 . . . . . . . . . . . . . . . . . . . 2,857,480.03 1,574,516.93 2,493,259.88 174,212.42 July 2034 . . . . . . . . . . . . . . . . . . . . 2,776,374.73 1,529,826.61 2,442,114.05 168,255.60 August 2034 . . . . . . . . . . . . . . . . . 2,697,495.00 1,486,362.62 2,391,950.88 162,392.45 September 2034 . . . . . . . . . . . . . . 2,620,781.18 1,444,092.09 2,342,752.23 156,621.49 October 2034 . . . . . . . . . . . . . . . . 2,546,175.19 1,402,983.00 2,294,500.30 150,941.27 November 2034 . . . . . . . . . . . . . . 2,473,620.48 1,363,004.20 2,247,177.60 145,350.37 December 2034 . . . . . . . . . . . . . . 2,403,061.99 1,324,125.35 2,200,766.96 139,847.39 January 2035 . . . . . . . . . . . . . . . . . 2,334,446.10 1,286,316.90 2,155,251.50 134,430.95 February 2035 . . . . . . . . . . . . . . . . 2,267,720.63 1,249,550.10 2,110,614.67 129,099.68 March 2035 . . . . . . . . . . . . . . . . . . 2,202,834.76 1,213,796.95 2,066,840.21 123,852.24 April 2035 . . . . . . . . . . . . . . . . . . . 2,139,739.00 1,179,030.19 2,023,912.14 118,687.31 May 2035 . . . . . . . . . . . . . . . . . . . 2,078,385.21 1,145,223.27 1,981,814.78 113,603.59 June 2035 . . . . . . . . . . . . . . . . . . . 2,018,726.47 1,112,350.35 1,940,532.73 108,599.79 July 2035 . . . . . . . . . . . . . . . . . . . . 1,960,717.13 1,080,386.28 1,900,050.86 103,674.65 August 2035 . . . . . . . . . . . . . . . . . 1,904,312.75 1,049,306.57 1,860,354.34 98,826.92 September 2035 . . . . . . . . . . . . . . 1,849,470.06 1,019,087.38 1,821,428.56 94,055.38 October 2035 . . . . . . . . . . . . . . . . 1,796,146.92 989,705.48 1,783,259.22 89,358.81 November 2035 . . . . . . . . . . . . . . 1,744,302.33 961,138.28 1,745,832.25 84,736.03 December 2035 . . . . . . . . . . . . . . 1,693,896.36 933,363.79 1,709,133.84 80,185.87 January 2036 . . . . . . . . . . . . . . . . . 1,644,890.14 906,360.58 1,673,150.44 75,707.16 February 2036 . . . . . . . . . . . . . . . . 1,597,245.84 880,107.81 1,637,868.74 71,298.77 March 2036 . . . . . . . . . . . . . . . . . . 1,550,926.62 854,585.19 1,603,275.65 66,959.58

S-II-4

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https://2,940,090.44

https://1,980,436.39

https://3,594,154.68

https://232,291.67

https://3,000,952.92

https://2,037,797.70

https://3,698,255.67

https://239,270.78

https://3,062,998.65

https://2,096,767.08

https://3,805,275.06

https://246,361.22

https://3,126,249.75

https://2,157,388.61

https://3,915,292.81

https://253,564.74

https://3,190,728.75

https://2,219,707.55

https://4,028,391.06

https://260,883.12

https://3,256,458.58

https://2,283,770.37

https://4,144,654.16

https://268,318.16

https://3,323,462.61

https://2,349,624.80

https://4,264,168.72

https://275,871.70

https://3,391,764.62

https://2,417,319.84

https://4,387,023.69

https://283,545.60

https://3,461,388.82

https://2,486,905.84

https://4,513,310.41

https://291,341.74

https://3,532,359.86

https://2,558,434.47

https://4,643,122.69

https://299,262.05

https://3,604,702.85

https://2,631,958.82

https://4,776,556.86

https://307,308.47

https://3,678,443.34

https://2,707,533.39

https://4,913,711.82

https://315,482.96

https://3,753,607.36

https://2,785,214.15

https://5,054,689.15

https://323,787.55

https://3,830,221.40

https://2,865,058.56

https://5,199,593.16

https://332,224.25

https://3,908,312.44

https://2,947,125.66

https://5,348,530.96

https://340,795.13

https://3,987,907.95

https://3,031,476.04

https://5,501,612.52

https://379,333.39

https://4,069,035.88

https://3,118,171.93

https://5,658,950.79

https://419,045.12

https://4,151,724.72

https://3,207,277.24

https://5,820,661.73

https://459,313.93

https://4,236,003.45

https://3,298,857.57

https://5,986,864.43

Distribution Date Class PM Class PQ Class P Classes CA and CB (in the aggregate)

April 2036 . . . . . . . . . . . . . . . . . . . May 2036 . . . . . . . . . . . . . . . . . . . June 2036 . . . . . . . . . . . . . . . . . . . July 2036 . . . . . . . . . . . . . . . . . . . . August 2036 . . . . . . . . . . . . . . . . . September 2036 . . . . . . . . . . . . . . October 2036 . . . . . . . . . . . . . . . . November 2036 . . . . . . . . . . . . . . December 2036 . . . . . . . . . . . . . . January 2037 . . . . . . . . . . . . . . . . . February 2037 . . . . . . . . . . . . . . . . March 2037 . . . . . . . . . . . . . . . . . . April 2037 . . . . . . . . . . . . . . . . . . . May 2037 . . . . . . . . . . . . . . . . . . . June 2037 . . . . . . . . . . . . . . . . . . . July 2037 . . . . . . . . . . . . . . . . . . . . August 2037 . . . . . . . . . . . . . . . . . September 2037 . . . . . . . . . . . . . . October 2037 . . . . . . . . . . . . . . . . November 2037 . . . . . . . . . . . . . . December 2037 . . . . . . . . . . . . . . January 2038 . . . . . . . . . . . . . . . . . February 2038 . . . . . . . . . . . . . . . . March 2038 . . . . . . . . . . . . . . . . . . April 2038 . . . . . . . . . . . . . . . . . . . May 2038 . . . . . . . . . . . . . . . . . . . June 2038 . . . . . . . . . . . . . . . . . . . July 2038 . . . . . . . . . . . . . . . . . . . . August 2038 . . . . . . . . . . . . . . . . . September 2038 . . . . . . . . . . . . . . October 2038 . . . . . . . . . . . . . . . . November 2038 . . . . . . . . . . . . . . December 2038 . . . . . . . . . . . . . . January 2039 . . . . . . . . . . . . . . . . . February 2039 . . . . . . . . . . . . . . . . March 2039 . . . . . . . . . . . . . . . . . . April 2039 . . . . . . . . . . . . . . . . . . . May 2039 . . . . . . . . . . . . . . . . . . . June 2039 . . . . . . . . . . . . . . . . . . . July 2039 . . . . . . . . . . . . . . . . . . . . August 2039 . . . . . . . . . . . . . . . . . September 2039 . . . . . . . . . . . . . . October 2039 . . . . . . . . . . . . . . . . November 2039 . . . . . . . . . . . . . . December 2039 . . . . . . . . . . . . . . January 2040 . . . . . . . . . . . . . . . . . February 2040 . . . . . . . . . . . . . . . . March 2040 . . . . . . . . . . . . . . . . . .

$ 1,505,896.63 1,462,120.95 1,419,565.61 1,378,197.54 1,337,984.53 1,298,895.25 1,260,899.18 1,223,966.63 1,188,068.69 1,153,177.22 1,119,264.84 1,086,304.88 1,054,271.40 1,023,139.15

992,883.54 963,480.64 934,907.17 907,140.47 880,158.46 853,939.70 828,463.27 803,708.84 779,656.63 756,287.36 733,582.31 711,523.21 690,092.32 669,272.36 649,046.52 629,398.43 610,312.18 591,772.27 573,763.63 556,271.57 539,281.83 522,780.52 506,754.11 491,189.46 476,073.76 461,394.57 447,139.76 433,297.56 419,856.48 406,805.38 394,133.38 381,829.94 369,884.76 358,287.86

$ 829,772.94 805,651.85 782,203.18 759,408.71 737,250.70 715,711.89 694,775.45 674,425.02 654,644.69 635,418.93 616,732.67 598,571.21 580,920.25 563,765.88 547,094.56 530,893.09 515,148.66 499,848.76 484,981.25 470,534.29 456,496.37 442,856.29 429,603.14 416,726.30 404,215.45 392,060.54 380,251.77 368,779.65 357,634.88 346,808.48 336,291.65 326,075.86 316,152.81 306,514.41 297,152.80 288,060.31 279,229.50 270,653.13 262,324.14 254,235.67 246,381.05 238,753.77 231,347.52 224,156.16 217,173.69 210,394.29 203,812.31 197,422.23

$ 1,569,358.34 1,536,104.22 1,503,500.90 1,471,536.22 1,440,198.27 1,409,475.32 1,379,355.87 1,349,828.62 1,320,882.49 1,292,506.58 1,264,690.21 1,237,422.87 1,210,694.26 1,184,494.26 1,158,812.93 1,133,640.53 1,108,967.47 1,084,784.35 1,061,081.94 1,037,851.17 1,015,083.15

992,769.14 970,900.57 949,469.01 928,466.20 907,884.02 887,714.51 867,949.84 848,582.33 829,604.46 811,008.81 792,788.13 774,935.28 757,443.27 740,305.21 723,514.36 707,064.11 690,947.95 675,159.50 659,692.50 644,540.79 629,698.35 615,159.24 600,917.66 586,967.89 573,304.33 559,921.48 546,813.95

$ 62,688.48 58,484.39 54,346.22 50,272.94 46,263.48 42,316.84 38,431.99 34,607.95 30,843.74 27,138.38 23,490.93 19,900.46 16,366.03 12,886.75 9,461.71 6,090.03 2,770.85

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

S-II-5



$ 347,029.50 336,100.23 325,490.83 315,192.34 305,196.07 295,493.52 286,076.46 276,936.87 268,066.93 259,459.07 251,105.90 243,000.24 235,135.11 227,503.70 220,099.42 212,915.84 205,946.71 199,185.94 192,627.62 186,266.01 180,095.51 174,110.67 168,306.22 162,677.00 157,218.02 151,924.41 146,791.43 141,814.50 136,989.12 132,310.97 127,775.80 123,379.50 119,118.08 114,987.65 110,984.42 107,104.72 103,344.99 99,701.74 96,171.60 92,751.28 89,437.59 86,227.44 83,117.80 80,105.74 77,188.42 74,363.05 71,626.96 68,977.51

$ 191,218.70 185,196.49 179,350.54 173,675.92 168,167.81 162,821.55 157,632.60 152,596.54 147,709.06 142,966.00 138,363.27 133,896.92 129,563.10 125,358.08 121,278.20 117,319.94 113,479.83 109,754.54 106,140.80 102,635.45 99,235.41 95,937.67 92,739.32 89,637.54 86,629.55 83,712.68 80,884.33 78,141.96 75,483.11 72,905.37 70,406.42 67,983.99 65,635.87 63,359.94 61,154.10 59,016.32 56,944.65 54,937.16 52,992.00 51,107.35 49,281.45 47,512.61 45,799.15 44,139.46 42,531.96 40,975.14 39,467.51 38,007.62

$ 533,976.43 521,403.73 509,090.74 497,032.45 485,223.94 473,660.39 462,337.06 451,249.31 440,392.56 429,762.34 419,354.26 409,163.99 399,187.32 389,420.08 379,858.20 370,497.67 361,334.57 352,365.04 343,585.30 334,991.65 326,580.43 318,348.08 310,291.09 302,406.01 294,689.46 287,138.14 279,748.80 272,518.23 265,443.31 258,520.97 251,748.19 245,122.01 238,639.54 232,297.91 226,094.35 220,026.10 214,090.47 208,284.84 202,606.60 197,053.21 191,622.19 186,311.09 181,117.50 176,039.08 171,073.52 166,218.54 161,471.93 156,831.51

$ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

S-II-6



$ 66,412.17 63,928.47 61,524.00 59,196.42 56,943.47 54,762.93 52,652.67 50,610.61 48,634.71 46,723.00 44,873.59 43,084.61 41,354.25 39,680.76 38,062.44 36,497.63 34,984.72 33,522.15 32,108.41 30,742.01 29,421.52 28,145.56 26,912.76 25,721.83 24,571.47 23,460.46 22,387.58 21,351.68 20,351.61 19,386.27 18,454.60 17,555.54 16,688.10 15,851.30 15,044.17 14,265.80 13,515.29 12,791.77 12,094.39 11,422.33 10,774.80 10,151.02 9,550.24 8,971.72 8,414.77 7,878.70 7,362.83 6,866.53

$ 36,594.08 35,225.52 33,900.62 32,618.08 31,376.67 30,175.16 29,012.38 27,887.17 26,798.41 25,745.04 24,725.98 23,740.22 22,786.77 21,864.65 20,972.93 20,110.69 19,277.05 18,471.16 17,692.16 16,939.25 16,211.64 15,508.57 14,829.28 14,173.05 13,539.19 12,927.00 12,335.83 11,765.03 11,213.98 10,682.06 10,168.69 9,673.30 9,195.33 8,734.23 8,289.49 7,860.60 7,447.06 7,048.38 6,664.12 6,293.80 5,937.00 5,593.29 5,262.25 4,943.48 4,636.59 4,341.20 4,056.95 3,783.48

$ 152,295.13 147,860.71 143,526.17 139,289.51 135,148.74 131,101.91 127,147.13 123,282.51 119,506.24 115,816.51 112,211.55 108,689.63 105,249.06 101,888.17 98,605.34 95,398.94 92,267.43 89,209.25 86,222.90 83,306.88 80,459.76 77,680.10 74,966.51 72,317.62 69,732.07 67,208.56 64,745.79 62,342.49 59,997.42 57,709.37 55,477.12 53,299.53 51,175.42 49,103.69 47,083.22 45,112.92 43,191.75 41,318.65 39,492.61 37,712.62 35,977.71 34,286.91 32,639.28 31,033.89 29,469.84 27,946.24 26,462.21 25,016.92

$ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

S-II-7


April 2048 . . . . . . . . . . . . . . . . . . . May 2048 . . . . . . . . . . . . . . . . . . . June 2048 . . . . . . . . . . . . . . . . . . . July 2048 . . . . . . . . . . . . . . . . . . . . August 2048 . . . . . . . . . . . . . . . . . September 2048 . . . . . . . . . . . . . . October 2048 . . . . . . . . . . . . . . . . November 2048 . . . . . . . . . . . . . . December 2048 . . . . . . . . . . . . . . January 2049 . . . . . . . . . . . . . . . . . February 2049 . . . . . . . . . . . . . . . . March 2049 . . . . . . . . . . . . . . . . . . April 2049 . . . . . . . . . . . . . . . . . . . May 2049 . . . . . . . . . . . . . . . . . . . June 2049 . . . . . . . . . . . . . . . . . . . July 2049 . . . . . . . . . . . . . . . . . . . . August 2049 . . . . . . . . . . . . . . . . . September 2049 . . . . . . . . . . . . . . October 2049 . . . . . . . . . . . . . . . . November 2049 . . . . . . . . . . . . . . December 2049 . . . . . . . . . . . . . . January 2050 . . . . . . . . . . . . . . . . . February 2050 . . . . . . . . . . . . . . . . March 2050 and thereafter . . . . . .

$ 6,389.16 5,930.12 5,488.81 5,064.67 4,657.12 4,265.64 3,889.70 3,528.79 3,182.42 2,850.11 2,531.39 2,225.82 1,932.96 1,652.38 1,383.68 1,126.46

880.32 644.91 419.84 204.78

0.00 0.00 0.00 0.00

$ 3,520.45 3,267.51 3,024.34 2,790.63 2,566.06 2,350.35 2,143.20 1,944.33 1,753.48 1,570.37 1,394.75 1,226.38 1,065.01

910.40 762.35 620.61 484.99 355.27 231.25 112.75

0.00 0.00 0.00 0.00

$ 23,609.51 22,239.16 20,905.08 19,606.48 18,342.58 17,112.62 15,915.87 14,751.59 13,619.08 12,517.63 11,446.56 10,405.20 9,392.89 8,408.99 7,452.87 6,523.90 5,621.48 4,745.02 3,893.93 3,067.65 2,265.61 1,487.27

732.09 0.00

$ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

S-II-8

Classes CM and CN Distribution Date (in the aggregate) Class QP Class CH Class AJ

Initial Balance . . . . . . . . . . . . . . . . . . $7,735,000.00 $31,907,000.00 $9,943,000.00 $38,846,000.00 August 2020 . . . . . . . . . . . . . . . . . . . . 7,712,740.95 31,764,840.20 9,818,548.17 38,668,221.55 September 2020 . . . . . . . . . . . . . . . . . 7,687,951.77 31,613,399.04 9,695,319.55 38,478,008.69 October 2020 . . . . . . . . . . . . . . . . . . . 7,660,643.63 31,452,753.47 9,573,302.11 38,275,450.58 November 2020 . . . . . . . . . . . . . . . . . 7,630,829.98 31,282,987.57 9,452,483.96 38,060,645.93 December 2020 . . . . . . . . . . . . . . . . . 7,598,526.52 31,104,192.44 9,332,853.30 37,833,702.95 January 2021 . . . . . . . . . . . . . . . . . . . 7,563,751.20 30,916,466.19 9,214,398.46 37,594,739.20 February 2021 . . . . . . . . . . . . . . . . . . 7,526,524.22 30,719,913.78 9,097,107.87 37,343,881.55 March 2021 . . . . . . . . . . . . . . . . . . . . 7,486,867.98 30,514,646.96 8,980,970.06 37,081,266.02 April 2021 . . . . . . . . . . . . . . . . . . . . . 7,444,807.09 30,300,784.16 8,865,973.70 36,807,037.69 May 2021 . . . . . . . . . . . . . . . . . . . . . . 7,400,368.35 30,078,450.35 8,752,107.53 36,521,350.53 June 2021 . . . . . . . . . . . . . . . . . . . . . . 7,353,580.68 29,847,776.95 8,639,360.44 36,224,367.29 July 2021 . . . . . . . . . . . . . . . . . . . . . . 7,304,475.15 29,608,901.69 8,527,721.38 35,916,259.30 August 2021 . . . . . . . . . . . . . . . . . . . . 7,253,084.90 29,361,968.44 8,417,179.44 35,597,206.31 September 2021 . . . . . . . . . . . . . . . . . 7,199,445.13 29,107,127.10 8,307,723.81 35,267,396.33 October 2021 . . . . . . . . . . . . . . . . . . . 7,143,593.04 28,844,533.41 8,199,343.76 34,927,025.38 November 2021 . . . . . . . . . . . . . . . . . 7,085,567.80 28,574,348.80 8,092,028.68 34,576,297.36 December 2021 . . . . . . . . . . . . . . . . . 7,025,410.51 28,296,740.22 7,985,768.07 34,215,423.77 January 2022 . . . . . . . . . . . . . . . . . . . 6,963,164.14 28,011,879.95 7,880,551.50 33,844,623.51 February 2022 . . . . . . . . . . . . . . . . . . 6,898,873.48 27,719,945.42 7,776,368.68 33,464,122.65 March 2022 . . . . . . . . . . . . . . . . . . . . 6,832,585.09 27,422,822.62 7,673,209.37 33,074,154.17 April 2022 . . . . . . . . . . . . . . . . . . . . . 6,764,347.22 27,120,654.21 7,571,063.48 32,674,957.72 May 2022 . . . . . . . . . . . . . . . . . . . . . . 6,694,209.79 26,815,259.04 7,469,920.97 32,266,779.34 June 2022 . . . . . . . . . . . . . . . . . . . . . . 6,622,224.31 26,506,743.75 7,369,771.93 31,849,871.21 July 2022 . . . . . . . . . . . . . . . . . . . . . . 6,548,443.79 26,196,376.45 7,270,606.52 31,424,491.35 August 2022 . . . . . . . . . . . . . . . . . . . . 6,472,922.70 25,884,586.97 7,172,415.02 30,990,903.35 September 2022 . . . . . . . . . . . . . . . . . 6,395,716.92 25,572,032.60 7,075,187.76 30,560,850.41 October 2022 . . . . . . . . . . . . . . . . . . . 6,316,883.59 25,262,028.51 6,978,915.21 30,134,302.45 November 2022 . . . . . . . . . . . . . . . . . 6,236,481.14 24,954,553.29 6,883,587.91 29,711,229.62 December 2022 . . . . . . . . . . . . . . . . . 6,156,864.67 24,649,585.73 6,789,196.48 29,291,602.33 January 2023 . . . . . . . . . . . . . . . . . . . 6,078,026.44 24,347,104.78 6,695,731.65 28,875,391.20 February 2023 . . . . . . . . . . . . . . . . . . 5,999,958.82 24,047,089.57 6,603,184.22 28,462,567.13 March 2023 . . . . . . . . . . . . . . . . . . . . 5,922,654.23 23,749,519.39 6,511,545.08 28,053,101.21 April 2023 . . . . . . . . . . . . . . . . . . . . . 5,846,105.17 23,454,373.69 6,420,805.24 27,646,964.80 May 2023 . . . . . . . . . . . . . . . . . . . . . . 5,770,304.21 23,161,632.09 6,330,955.74 27,244,129.47 June 2023 . . . . . . . . . . . . . . . . . . . . . . 5,695,244.00 22,871,274.38 6,241,987.75 26,844,567.04 July 2023 . . . . . . . . . . . . . . . . . . . . . . 5,620,917.23 22,583,280.51 6,153,892.51 26,448,249.54 August 2023 . . . . . . . . . . . . . . . . . . . . 5,547,316.71 22,297,630.58 6,066,661.34 26,055,149.24 September 2023 . . . . . . . . . . . . . . . . . 5,474,435.26 22,014,304.85 5,980,285.64 25,665,238.62 October 2023 . . . . . . . . . . . . . . . . . . . 5,402,265.81 21,733,283.77 5,894,756.90 25,278,490.41 November 2023 . . . . . . . . . . . . . . . . . 5,330,801.34 21,454,547.90 5,810,066.70 24,894,877.52 December 2023 . . . . . . . . . . . . . . . . . 5,260,034.91 21,178,077.98 5,726,206.67 24,514,373.12 January 2024 . . . . . . . . . . . . . . . . . . . 5,189,959.63 20,903,854.92 5,643,168.56 24,136,950.58 February 2024 . . . . . . . . . . . . . . . . . . 5,120,568.68 20,631,859.75 5,560,944.17 23,762,583.48 March 2024 . . . . . . . . . . . . . . . . . . . . 5,051,855.31 20,362,073.68 5,479,525.38 23,391,245.63 April 2024 . . . . . . . . . . . . . . . . . . . . . 4,983,812.84 20,094,478.05 5,398,904.16 23,022,911.03 May 2024 . . . . . . . . . . . . . . . . . . . . . . 4,916,434.63 19,829,054.37 5,319,072.55 22,657,553.92 June 2024 . . . . . . . . . . . . . . . . . . . . . . 4,849,714.13 19,565,784.29 5,240,022.68 22,295,148.73

S-II-9


July 2024 . . . . . . . . . . . . . . . . . . . . . . $4,783,644.84 $19,304,649.59 $5,161,746.72 $21,935,670.11 August 2024 . . . . . . . . . . . . . . . . . . . . 4,718,220.32 19,045,632.22 5,084,236.96 21,579,092.88 September 2024 . . . . . . . . . . . . . . . . . 4,653,434.19 18,788,714.27 5,007,485.72 21,225,392.12 October 2024 . . . . . . . . . . . . . . . . . . . 4,589,280.14 18,533,877.96 4,931,485.43 20,874,543.08 November 2024 . . . . . . . . . . . . . . . . . 4,525,751.91 18,281,105.68 4,856,228.57 20,526,521.20 December 2024 . . . . . . . . . . . . . . . . . 4,462,843.32 18,030,379.93 4,781,707.71 20,181,302.14 January 2025 . . . . . . . . . . . . . . . . . . . 4,400,548.21 17,781,683.37 4,707,915.46 19,838,861.75 February 2025 . . . . . . . . . . . . . . . . . . 4,338,860.53 17,534,998.80 4,634,844.54 19,499,176.09 March 2025 . . . . . . . . . . . . . . . . . . . . 4,277,774.23 17,290,309.15 4,562,487.72 19,162,221.40 April 2025 . . . . . . . . . . . . . . . . . . . . . 4,217,283.37 17,047,597.49 4,490,837.82 18,827,974.10 May 2025 . . . . . . . . . . . . . . . . . . . . . . 4,157,382.04 16,806,847.02 4,419,887.77 18,496,410.83 June 2025 . . . . . . . . . . . . . . . . . . . . . . 4,098,064.38 16,568,041.09 4,349,630.54 18,167,508.40 July 2025 . . . . . . . . . . . . . . . . . . . . . . 4,039,324.60 16,331,163.17 4,280,059.17 17,841,243.82 August 2025 . . . . . . . . . . . . . . . . . . . . 3,981,156.97 16,096,196.86 4,211,166.78 17,517,594.28 September 2025 . . . . . . . . . . . . . . . . . 3,923,555.80 15,863,125.92 4,142,946.53 17,196,537.16 October 2025 . . . . . . . . . . . . . . . . . . . 3,866,515.47 15,631,934.20 4,075,619.29 16,878,050.01 November 2025 . . . . . . . . . . . . . . . . . 3,810,030.38 15,402,605.71 4,009,295.62 16,562,110.59 December 2025 . . . . . . . . . . . . . . . . . 3,754,095.03 15,175,124.57 3,943,960.97 16,248,696.81 January 2026 . . . . . . . . . . . . . . . . . . . 3,698,703.95 14,949,475.05 3,879,600.99 15,937,786.77 February 2026 . . . . . . . . . . . . . . . . . . 3,643,851.71 14,725,641.52 3,816,201.54 15,629,358.76 March 2026 . . . . . . . . . . . . . . . . . . . . 3,589,532.94 14,503,608.49 3,753,748.67 15,323,391.24 April 2026 . . . . . . . . . . . . . . . . . . . . . 3,535,742.35 14,283,360.59 3,692,228.64 15,019,862.83 May 2026 . . . . . . . . . . . . . . . . . . . . . . 3,482,474.65 14,064,882.59 3,631,627.90 14,718,752.35 June 2026 . . . . . . . . . . . . . . . . . . . . . . 3,429,724.63 13,848,159.35 3,571,933.08 14,422,131.33 July 2026 . . . . . . . . . . . . . . . . . . . . . . 3,377,487.14 13,633,175.88 3,513,131.03 14,131,320.74 August 2026 . . . . . . . . . . . . . . . . . . . . 3,325,757.06 13,419,917.29 3,455,208.76 13,846,209.00 September 2026 . . . . . . . . . . . . . . . . . 3,274,529.31 13,208,368.84 3,398,153.47 13,566,686.66 October 2026 . . . . . . . . . . . . . . . . . . . 3,223,798.89 12,998,515.87 3,341,952.55 13,292,646.30 November 2026 . . . . . . . . . . . . . . . . . 3,173,560.82 12,791,493.83 3,286,593.57 13,023,982.57 December 2026 . . . . . . . . . . . . . . . . . 3,123,983.60 12,587,613.92 3,232,064.25 12,760,592.10 January 2027 . . . . . . . . . . . . . . . . . . . 3,075,143.29 12,386,829.87 3,178,352.53 12,502,373.48 February 2027 . . . . . . . . . . . . . . . . . . 3,027,029.29 12,189,096.04 3,125,446.48 12,249,227.23 March 2027 . . . . . . . . . . . . . . . . . . . . 2,979,631.10 11,994,367.48 3,073,334.37 12,001,055.74 April 2027 . . . . . . . . . . . . . . . . . . . . . 2,932,938.40 11,802,599.87 3,022,004.62 11,757,763.26 May 2027 . . . . . . . . . . . . . . . . . . . . . . 2,886,941.01 11,613,749.53 2,971,445.81 11,519,255.86 June 2027 . . . . . . . . . . . . . . . . . . . . . . 2,841,628.90 11,427,773.43 2,921,646.70 11,285,441.37 July 2027 . . . . . . . . . . . . . . . . . . . . . . 2,796,992.16 11,244,629.15 2,872,596.20 11,056,229.39 August 2027 . . . . . . . . . . . . . . . . . . . . 2,753,021.05 11,064,274.88 2,824,283.37 10,831,531.23 September 2027 . . . . . . . . . . . . . . . . . 2,709,705.94 10,886,669.42 2,776,697.45 10,611,259.88 October 2027 . . . . . . . . . . . . . . . . . . . 2,667,037.35 10,711,772.16 2,729,827.81 10,395,329.98 November 2027 . . . . . . . . . . . . . . . . . 2,625,005.94 10,539,543.09 2,683,663.99 10,183,657.79 December 2027 . . . . . . . . . . . . . . . . . 2,583,602.50 10,369,942.76 2,638,195.65 9,976,161.17 January 2028 . . . . . . . . . . . . . . . . . . . 2,542,817.93 10,202,932.33 2,593,412.63 9,772,759.52 February 2028 . . . . . . . . . . . . . . . . . . 2,502,643.28 10,038,473.46 2,549,304.90 9,573,373.80 March 2028 . . . . . . . . . . . . . . . . . . . . 2,463,069.72 9,876,528.43 2,505,862.58 9,377,926.44 April 2028 . . . . . . . . . . . . . . . . . . . . . 2,424,088.56 9,717,060.03 2,463,075.91 9,186,341.37 May 2028 . . . . . . . . . . . . . . . . . . . . . . 2,385,691.20 9,560,031.58 2,420,935.29 8,998,543.95 June 2028 . . . . . . . . . . . . . . . . . . . . . . 2,347,869.20 9,405,406.97 2,379,431.26 8,814,460.97

S-II-10


July 2028 . . . . . . . . . . . . . . . . . . . . . . $2,310,614.21 $ 9,253,150.58 $2,338,554.48 $ 8,634,020.61 August 2028 . . . . . . . . . . . . . . . . . . . . 2,273,918.01 9,103,227.32 2,298,295.75 8,457,152.40 September 2028 . . . . . . . . . . . . . . . . . 2,237,772.50 8,955,602.61 2,258,646.01 8,283,787.24 October 2028 . . . . . . . . . . . . . . . . . . . 2,202,169.69 8,810,242.36 2,219,596.31 8,113,857.33 November 2028 . . . . . . . . . . . . . . . . . 2,167,101.71 8,667,112.99 2,181,137.84 7,947,296.14 December 2028 . . . . . . . . . . . . . . . . . 2,132,560.78 8,526,181.41 2,143,261.92 7,784,038.45 January 2029 . . . . . . . . . . . . . . . . . . . 2,098,539.27 8,387,414.98 2,105,959.99 7,624,020.25 February 2029 . . . . . . . . . . . . . . . . . . 2,065,029.62 8,250,781.56 2,069,223.61 7,467,178.75 March 2029 . . . . . . . . . . . . . . . . . . . . 2,032,024.39 8,116,249.48 2,033,044.45 7,313,452.38 April 2029 . . . . . . . . . . . . . . . . . . . . . 1,999,516.26 7,983,787.52 1,997,414.33 7,162,780.73 May 2029 . . . . . . . . . . . . . . . . . . . . . . 1,967,497.99 7,853,364.91 1,962,325.16 7,015,104.53 June 2029 . . . . . . . . . . . . . . . . . . . . . . 1,935,962.47 7,724,951.34 1,927,768.98 6,870,365.65 July 2029 . . . . . . . . . . . . . . . . . . . . . . 1,904,902.66 7,598,516.92 1,893,737.92 6,728,507.07 August 2029 . . . . . . . . . . . . . . . . . . . . 1,874,311.65 7,474,032.21 1,860,224.27 6,589,472.87 September 2029 . . . . . . . . . . . . . . . . . 1,844,182.61 7,351,468.20 1,827,220.37 6,453,208.17 October 2029 . . . . . . . . . . . . . . . . . . . 1,814,508.81 7,230,796.29 1,794,718.73 6,319,659.15 November 2029 . . . . . . . . . . . . . . . . . 1,785,283.62 7,111,988.32 1,762,711.91 6,188,773.03 December 2029 . . . . . . . . . . . . . . . . . 1,756,500.50 6,995,016.50 1,731,192.63 6,060,498.03 January 2030 . . . . . . . . . . . . . . . . . . . 1,728,153.01 6,879,853.48 1,700,153.68 5,934,783.34 February 2030 . . . . . . . . . . . . . . . . . . 1,700,234.78 6,766,472.29 1,669,587.96 5,811,579.15 March 2030 . . . . . . . . . . . . . . . . . . . . 1,672,739.57 6,654,846.37 1,639,488.48 5,690,836.59 April 2030 . . . . . . . . . . . . . . . . . . . . . 1,645,661.20 6,544,949.52 1,609,848.34 5,572,507.72 May 2030 . . . . . . . . . . . . . . . . . . . . . . 1,618,993.57 6,436,755.94 1,580,660.75 5,456,545.51 June 2030 . . . . . . . . . . . . . . . . . . . . . . 1,592,730.70 6,330,240.21 1,551,919.01 5,342,903.86 July 2030 . . . . . . . . . . . . . . . . . . . . . . 1,566,866.67 6,225,377.26 1,523,616.51 5,231,537.51 August 2030 . . . . . . . . . . . . . . . . . . . . 1,541,395.65 6,122,142.42 1,495,746.75 5,122,402.10 September 2030 . . . . . . . . . . . . . . . . . 1,516,311.89 6,020,511.33 1,468,303.32 5,015,454.11 October 2030 . . . . . . . . . . . . . . . . . . . 1,491,609.74 5,920,460.03 1,441,279.90 4,910,650.85 November 2030 . . . . . . . . . . . . . . . . . 1,467,283.60 5,821,964.90 1,414,670.25 4,807,950.43 December 2030 . . . . . . . . . . . . . . . . . 1,443,327.97 5,725,002.64 1,388,468.23 4,707,311.80 January 2031 . . . . . . . . . . . . . . . . . . . 1,419,737.44 5,629,550.31 1,362,667.79 4,608,694.68 February 2031 . . . . . . . . . . . . . . . . . . 1,396,506.65 5,535,585.32 1,337,262.97 4,512,059.54 March 2031 . . . . . . . . . . . . . . . . . . . . 1,373,630.32 5,443,085.37 1,312,247.88 4,417,367.63 April 2031 . . . . . . . . . . . . . . . . . . . . . 1,351,103.28 5,352,028.53 1,287,616.74 4,324,580.96 May 2031 . . . . . . . . . . . . . . . . . . . . . . 1,328,920.39 5,262,393.15 1,263,363.82 4,233,662.22 June 2031 . . . . . . . . . . . . . . . . . . . . . . 1,307,076.60 5,174,157.92 1,239,483.50 4,144,574.87 July 2031 . . . . . . . . . . . . . . . . . . . . . . 1,285,566.95 5,087,301.84 1,215,970.23 4,057,283.04 August 2031 . . . . . . . . . . . . . . . . . . . . 1,264,386.52 5,001,804.21 1,192,818.55 3,971,751.54 September 2031 . . . . . . . . . . . . . . . . . 1,243,530.48 4,917,644.64 1,170,023.06 3,887,945.88 October 2031 . . . . . . . . . . . . . . . . . . . 1,222,994.07 4,834,803.03 1,147,578.45 3,805,832.23 November 2031 . . . . . . . . . . . . . . . . . 1,202,772.58 4,753,259.59 1,125,479.49 3,725,377.40 December 2031 . . . . . . . . . . . . . . . . . 1,182,861.39 4,672,994.79 1,103,721.02 3,646,548.83 January 2032 . . . . . . . . . . . . . . . . . . . 1,163,255.94 4,593,989.41 1,082,297.95 3,569,314.61 February 2032 . . . . . . . . . . . . . . . . . . 1,143,951.72 4,516,224.51 1,061,205.27 3,493,643.43 March 2032 . . . . . . . . . . . . . . . . . . . . 1,124,944.30 4,439,681.43 1,040,438.04 3,419,504.57 April 2032 . . . . . . . . . . . . . . . . . . . . . 1,106,229.31 4,364,341.76 1,019,991.40 3,346,867.93 May 2032 . . . . . . . . . . . . . . . . . . . . . . 1,087,802.45 4,290,187.39 999,860.54 3,275,703.96 June 2032 . . . . . . . . . . . . . . . . . . . . . . 1,069,659.46 4,217,200.45 980,040.75 3,205,983.71

S-II-11


July 2032 . . . . . . . . . . . . . . . . . . . . . . $1,051,796.16 $ 4,145,363.35 $ 960,527.35 $ 3,137,678.75 August 2032 . . . . . . . . . . . . . . . . . . . . 1,034,208.43 4,074,658.75 941,315.76 3,070,761.24 September 2032 . . . . . . . . . . . . . . . . . 1,016,892.20 4,005,069.56 922,401.44 3,005,203.83 October 2032 . . . . . . . . . . . . . . . . . . . 999,843.47 3,936,578.96 903,779.95 2,940,979.74 November 2032 . . . . . . . . . . . . . . . . . 983,058.27 3,869,170.35 885,446.88 2,878,062.68 December 2032 . . . . . . . . . . . . . . . . . 966,532.73 3,802,827.40 867,397.91 2,816,426.88 January 2033 . . . . . . . . . . . . . . . . . . . 950,262.99 3,737,534.00 849,628.75 2,756,047.06 February 2033 . . . . . . . . . . . . . . . . . . 934,245.29 3,673,274.29 832,135.21 2,696,898.43 March 2033 . . . . . . . . . . . . . . . . . . . . 918,475.89 3,610,032.63 814,913.14 2,638,956.69 April 2033 . . . . . . . . . . . . . . . . . . . . . 902,951.12 3,547,793.61 797,958.44 2,582,197.97 May 2033 . . . . . . . . . . . . . . . . . . . . . . 887,667.35 3,486,542.07 781,267.11 2,526,598.92 June 2033 . . . . . . . . . . . . . . . . . . . . . . 872,621.02 3,426,263.04 764,835.15 2,472,136.60 July 2033 . . . . . . . . . . . . . . . . . . . . . . 857,808.60 3,366,941.80 748,658.67 2,418,788.51 August 2033 . . . . . . . . . . . . . . . . . . . . 843,226.64 3,308,563.83 732,733.81 2,366,532.62 September 2033 . . . . . . . . . . . . . . . . . 828,871.71 3,251,114.82 717,056.78 2,315,347.30 October 2033 . . . . . . . . . . . . . . . . . . . 814,740.44 3,194,580.68 701,623.81 2,265,211.34 November 2033 . . . . . . . . . . . . . . . . . 800,829.52 3,138,947.54 686,431.24 2,216,103.95 December 2033 . . . . . . . . . . . . . . . . . 787,135.67 3,084,201.69 671,475.42 2,168,004.72 January 2034 . . . . . . . . . . . . . . . . . . . 773,655.67 3,030,329.68 656,752.77 2,120,893.68 February 2034 . . . . . . . . . . . . . . . . . . 760,386.34 2,977,318.21 642,259.76 2,074,751.20 March 2034 . . . . . . . . . . . . . . . . . . . . 747,324.54 2,925,154.20 627,992.91 2,029,558.05 April 2034 . . . . . . . . . . . . . . . . . . . . . 734,467.19 2,873,824.77 613,948.79 1,985,295.38 May 2034 . . . . . . . . . . . . . . . . . . . . . . 721,811.25 2,823,317.21 600,124.02 1,941,944.70 June 2034 . . . . . . . . . . . . . . . . . . . . . . 709,353.72 2,773,619.00 586,515.28 1,899,487.87 July 2034 . . . . . . . . . . . . . . . . . . . . . . 697,091.64 2,724,717.83 573,119.29 1,857,907.11 August 2034 . . . . . . . . . . . . . . . . . . . . 685,022.10 2,676,601.53 559,932.80 1,817,184.98 September 2034 . . . . . . . . . . . . . . . . . 673,142.23 2,629,258.15 546,952.64 1,777,304.40 October 2034 . . . . . . . . . . . . . . . . . . . 661,449.19 2,582,675.89 534,175.67 1,738,248.58 November 2034 . . . . . . . . . . . . . . . . . 649,940.21 2,536,843.13 521,598.78 1,700,001.10 December 2034 . . . . . . . . . . . . . . . . . 638,612.52 2,491,748.44 509,218.94 1,662,545.84 January 2035 . . . . . . . . . . . . . . . . . . . 627,463.43 2,447,380.53 497,033.14 1,625,866.98 February 2035 . . . . . . . . . . . . . . . . . . 616,490.27 2,403,728.30 485,038.41 1,589,949.04 March 2035 . . . . . . . . . . . . . . . . . . . . 605,690.39 2,360,780.81 473,231.85 1,554,776.80 April 2035 . . . . . . . . . . . . . . . . . . . . . 595,061.22 2,318,527.27 461,610.58 1,520,335.38 May 2035 . . . . . . . . . . . . . . . . . . . . . . 584,600.20 2,276,957.05 450,171.76 1,486,610.16 June 2035 . . . . . . . . . . . . . . . . . . . . . . 574,304.80 2,236,059.70 438,912.60 1,453,586.81 July 2035 . . . . . . . . . . . . . . . . . . . . . . 564,172.54 2,195,824.90 427,830.36 1,421,251.29 August 2035 . . . . . . . . . . . . . . . . . . . . 554,200.99 2,156,242.50 416,922.32 1,389,589.82 September 2035 . . . . . . . . . . . . . . . . . 544,387.73 2,117,302.48 406,185.82 1,358,588.90 October 2035 . . . . . . . . . . . . . . . . . . . 534,730.38 2,078,995.00 395,618.22 1,328,235.28 November 2035 . . . . . . . . . . . . . . . . . 525,226.61 2,041,310.34 385,216.92 1,298,516.00 December 2035 . . . . . . . . . . . . . . . . . 515,874.10 2,004,238.93 374,979.39 1,269,418.30 January 2036 . . . . . . . . . . . . . . . . . . . 506,670.59 1,967,771.34 364,903.09 1,240,929.73 February 2036 . . . . . . . . . . . . . . . . . . 497,613.83 1,931,898.29 354,985.55 1,213,038.03 March 2036 . . . . . . . . . . . . . . . . . . . . 488,701.62 1,896,610.64 345,224.32 1,185,731.21 April 2036 . . . . . . . . . . . . . . . . . . . . . 479,931.78 1,861,899.36 335,617.00 1,158,997.51 May 2036 . . . . . . . . . . . . . . . . . . . . . . 471,302.17 1,827,755.58 326,161.22 1,132,825.39 June 2036 . . . . . . . . . . . . . . . . . . . . . . 462,810.67 1,794,170.56 316,854.63 1,107,203.56

S-II-12

https://1,107,203.56

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https://534,175.67

https://2,582,675.89

https://661,449.19

https://1,777,304.40

https://546,952.64

https://2,629,258.15

https://673,142.23

https://1,817,184.98

https://559,932.80

https://2,676,601.53

https://685,022.10

https://1,857,907.11

https://573,119.29

https://2,724,717.83

https://697,091.64

https://1,899,487.87

https://586,515.28

https://2,773,619.00

https://709,353.72

https://1,941,944.70

https://600,124.02

https://2,823,317.21

https://721,811.25

https://1,985,295.38

https://613,948.79

https://2,873,824.77

https://734,467.19

https://2,029,558.05

https://627,992.91

https://2,925,154.20

https://747,324.54

https://2,074,751.20

https://642,259.76

https://2,977,318.21

https://760,386.34

https://2,120,893.68

https://656,752.77

https://3,030,329.68

https://773,655.67

https://2,168,004.72

https://671,475.42

https://3,084,201.69

https://787,135.67

https://2,216,103.95

https://686,431.24

https://3,138,947.54

https://800,829.52

https://2,265,211.34

https://701,623.81

https://3,194,580.68

https://814,740.44

https://2,315,347.30

https://717,056.78

https://3,251,114.82

https://828,871.71

https://2,366,532.62

https://732,733.81

https://3,308,563.83

https://843,226.64

https://2,418,788.51

https://748,658.67

https://3,366,941.80

https://857,808.60

https://2,472,136.60

https://764,835.15

https://3,426,263.04

https://872,621.02

https://2,526,598.92

https://781,267.11

https://3,486,542.07

https://887,667.35

https://2,582,197.97

https://797,958.44

https://3,547,793.61

https://902,951.12

https://2,638,956.69

https://814,913.14

https://3,610,032.63

https://918,475.89

https://2,696,898.43

https://832,135.21

https://3,673,274.29

https://934,245.29

https://2,756,047.06

https://849,628.75

https://3,737,534.00

https://950,262.99

https://2,816,426.88

https://867,397.91

https://3,802,827.40

https://966,532.73

https://2,878,062.68

https://885,446.88

https://3,869,170.35

https://983,058.27

https://2,940,979.74

https://903,779.95

https://3,936,578.96

https://999,843.47

https://3,005,203.83

https://922,401.44

https://4,005,069.56

https://1,016,892.20

https://3,070,761.24

https://941,315.76

https://4,074,658.75

https://1,034,208.43

https://3,137,678.75

https://960,527.35

https://4,145,363.35

https://1,051,796.16


July 2036 . . . . . . . . . . . . . . . . . . . . . . $ 454,455.20 $ 1,761,135.69 $ 307,694.93 $ 1,082,120.91 August 2036 . . . . . . . . . . . . . . . . . . . . 446,233.71 1,728,642.46 298,679.85 1,057,566.59 September 2036 . . . . . . . . . . . . . . . . . 438,144.17 1,696,682.52 289,807.16 1,033,529.93 October 2036 . . . . . . . . . . . . . . . . . . . 430,184.60 1,665,247.64 281,074.65 1,010,000.50 November 2036 . . . . . . . . . . . . . . . . . 422,353.04 1,634,329.70 272,480.15 986,968.04 December 2036 . . . . . . . . . . . . . . . . . 414,647.54 1,603,920.70 264,021.53 964,422.53 January 2037 . . . . . . . . . . . . . . . . . . . 407,066.20 1,574,012.78 255,696.67 942,354.10 February 2037 . . . . . . . . . . . . . . . . . . 399,607.14 1,544,598.17 247,503.49 920,753.12 March 2037 . . . . . . . . . . . . . . . . . . . . 392,268.50 1,515,669.24 239,439.96 899,610.12 April 2037 . . . . . . . . . . . . . . . . . . . . . 385,048.48 1,487,218.45 231,504.06 878,915.83 May 2037 . . . . . . . . . . . . . . . . . . . . . . 377,945.26 1,459,238.40 223,693.79 858,661.14 June 2037 . . . . . . . . . . . . . . . . . . . . . . 370,957.07 1,431,721.78 216,007.21 838,837.16 July 2037 . . . . . . . . . . . . . . . . . . . . . . 364,082.18 1,404,661.40 208,442.39 819,435.14 August 2037 . . . . . . . . . . . . . . . . . . . . 357,318.85 1,378,050.16 200,997.42 800,446.51 September 2037 . . . . . . . . . . . . . . . . . 350,665.40 1,351,881.09 193,670.43 781,862.87 October 2037 . . . . . . . . . . . . . . . . . . . 344,120.15 1,326,147.31 186,459.59 763,676.00 November 2037 . . . . . . . . . . . . . . . . . 337,681.45 1,300,842.05 179,363.07 745,877.82 December 2037 . . . . . . . . . . . . . . . . . 331,347.70 1,275,958.63 172,379.08 728,460.41 January 2038 . . . . . . . . . . . . . . . . . . . 325,117.28 1,251,490.48 165,505.87 711,416.03 February 2038 . . . . . . . . . . . . . . . . . . 318,988.62 1,227,431.13 158,741.69 694,737.08 March 2038 . . . . . . . . . . . . . . . . . . . . 312,960.18 1,203,774.20 152,084.83 678,416.09 April 2038 . . . . . . . . . . . . . . . . . . . . . 307,030.41 1,180,513.41 145,533.61 662,445.76 May 2038 . . . . . . . . . . . . . . . . . . . . . . 301,197.83 1,157,642.57 139,086.36 646,818.94 June 2038 . . . . . . . . . . . . . . . . . . . . . . 295,460.93 1,135,155.58 132,741.46 631,528.61 July 2038 . . . . . . . . . . . . . . . . . . . . . . 289,818.26 1,113,046.45 126,497.27 616,567.87 August 2038 . . . . . . . . . . . . . . . . . . . . 284,268.38 1,091,309.25 120,352.23 601,930.00 September 2038 . . . . . . . . . . . . . . . . . 278,809.87 1,069,938.17 114,304.76 587,608.37 October 2038 . . . . . . . . . . . . . . . . . . . 273,441.32 1,048,927.48 108,353.32 573,596.51 November 2038 . . . . . . . . . . . . . . . . . 268,161.37 1,028,271.51 102,496.40 559,888.06 December 2038 . . . . . . . . . . . . . . . . . 262,968.64 1,007,964.70 96,732.49 546,476.81 January 2039 . . . . . . . . . . . . . . . . . . . 257,861.81 988,001.57 91,060.13 533,356.64 February 2039 . . . . . . . . . . . . . . . . . . 252,839.55 968,376.73 85,477.86 520,521.58 March 2039 . . . . . . . . . . . . . . . . . . . . 247,900.57 949,084.84 79,984.24 507,965.77 April 2039 . . . . . . . . . . . . . . . . . . . . . 243,043.58 930,120.69 74,577.88 495,683.45 May 2039 . . . . . . . . . . . . . . . . . . . . . . 238,267.32 911,479.10 69,257.39 483,669.00 June 2039 . . . . . . . . . . . . . . . . . . . . . . 233,570.56 893,155.00 64,021.39 471,916.89 July 2039 . . . . . . . . . . . . . . . . . . . . . . 228,952.06 875,143.37 58,868.54 460,421.72 August 2039 . . . . . . . . . . . . . . . . . . . . 224,410.61 857,439.30 53,797.51 449,178.19 September 2039 . . . . . . . . . . . . . . . . . 219,945.04 840,037.93 48,806.99 438,181.09 October 2039 . . . . . . . . . . . . . . . . . . . 215,554.17 822,934.47 43,895.71 427,425.33 November 2039 . . . . . . . . . . . . . . . . . 211,236.85 806,124.21 39,062.38 416,905.92 December 2039 . . . . . . . . . . . . . . . . . 206,991.94 789,602.52 34,305.76 406,617.97 January 2040 . . . . . . . . . . . . . . . . . . . 202,818.31 773,364.84 29,624.62 396,556.68 February 2040 . . . . . . . . . . . . . . . . . . 198,714.87 757,406.65 25,017.75 386,717.35 March 2040 . . . . . . . . . . . . . . . . . . . . 194,680.53 741,723.54 20,483.95 377,095.38 April 2040 . . . . . . . . . . . . . . . . . . . . . 190,714.21 726,311.12 16,022.04 367,686.26 May 2040 . . . . . . . . . . . . . . . . . . . . . . 186,814.87 711,165.12 11,630.87 358,485.55 June 2040 . . . . . . . . . . . . . . . . . . . . . . 182,981.47 696,281.30 7,309.30 349,488.93

S-II-13

https://349,488.93

https://7,309.30

https://696,281.30

https://182,981.47

https://358,485.55

https://11,630.87

https://711,165.12

https://186,814.87

https://367,686.26

https://16,022.04

https://726,311.12

https://190,714.21

https://377,095.38

https://20,483.95

https://741,723.54

https://194,680.53

https://386,717.35

https://25,017.75

https://757,406.65

https://198,714.87

https://396,556.68

https://29,624.62

https://773,364.84

https://202,818.31

https://406,617.97

https://34,305.76

https://789,602.52

https://206,991.94

https://416,905.92

https://39,062.38

https://806,124.21

https://211,236.85

https://427,425.33

https://43,895.71

https://822,934.47

https://215,554.17

https://438,181.09

https://48,806.99

https://840,037.93

https://219,945.04

https://449,178.19

https://53,797.51

https://857,439.30

https://224,410.61

https://460,421.72

https://58,868.54

https://875,143.37

https://228,952.06

https://471,916.89

https://64,021.39

https://893,155.00

https://233,570.56

https://483,669.00

https://69,257.39

https://911,479.10

https://238,267.32

https://495,683.45

https://74,577.88

https://930,120.69

https://243,043.58

https://507,965.77

https://79,984.24

https://949,084.84

https://247,900.57

https://520,521.58

https://85,477.86

https://968,376.73

https://252,839.55

https://533,356.64

https://91,060.13

https://988,001.57

https://257,861.81

https://546,476.81

https://96,732.49

https://1,007,964.70

https://262,968.64

https://559,888.06

https://102,496.40

https://1,028,271.51

https://268,161.37

https://573,596.51

https://108,353.32

https://1,048,927.48

https://273,441.32

https://587,608.37

https://114,304.76

https://1,069,938.17

https://278,809.87

https://601,930.00

https://120,352.23

https://1,091,309.25

https://284,268.38

https://616,567.87

https://126,497.27

https://1,113,046.45

https://289,818.26

https://631,528.61

https://132,741.46

https://1,135,155.58

https://295,460.93

https://646,818.94

https://139,086.36

https://1,157,642.57

https://301,197.83

https://662,445.76

https://145,533.61

https://1,180,513.41

https://307,030.41

https://678,416.09

https://152,084.83

https://1,203,774.20

https://312,960.18

https://694,737.08

https://158,741.69

https://1,227,431.13

https://318,988.62

https://711,416.03

https://165,505.87

https://1,251,490.48

https://325,117.28

https://728,460.41

https://172,379.08

https://1,275,958.63

https://331,347.70

https://745,877.82

https://179,363.07

https://1,300,842.05

https://337,681.45

https://763,676.00

https://186,459.59

https://1,326,147.31

https://344,120.15

https://781,862.87

https://193,670.43

https://1,351,881.09

https://350,665.40

https://800,446.51

https://200,997.42

https://1,378,050.16

https://357,318.85

https://819,435.14

https://208,442.39

https://1,404,661.40

https://364,082.18

https://838,837.16

https://216,007.21

https://1,431,721.78

https://370,957.07

https://858,661.14

https://223,693.79

https://1,459,238.40

https://377,945.26

https://878,915.83

https://231,504.06

https://1,487,218.45

https://385,048.48

https://899,610.12

https://239,439.96

https://1,515,669.24

https://392,268.50

https://920,753.12

https://247,503.49

https://1,544,598.17

https://399,607.14

https://942,354.10

https://255,696.67

https://1,574,012.78

https://407,066.20

https://964,422.53

https://264,021.53

https://1,603,920.70

https://414,647.54

https://986,968.04

https://272,480.15

https://1,634,329.70

https://422,353.04

https://1,010,000.50

https://281,074.65

https://1,665,247.64

https://430,184.60

https://1,033,529.93

https://289,807.16

https://1,696,682.52

https://438,144.17

https://1,057,566.59

https://298,679.85

https://1,728,642.46

https://446,233.71

https://1,082,120.91

https://307,694.93

https://1,761,135.69

https://454,455.20

Distribution Date Classes CM and CN (in the aggregate) Class QP Class CH Class AJ

July 2040 . . . . . . . . . . . . . . . . . . . . . . August 2040 . . . . . . . . . . . . . . . . . . . . September 2040 . . . . . . . . . . . . . . . . . October 2040 . . . . . . . . . . . . . . . . . . . November 2040 . . . . . . . . . . . . . . . . . December 2040 . . . . . . . . . . . . . . . . . January 2041 . . . . . . . . . . . . . . . . . . . February 2041 . . . . . . . . . . . . . . . . . . March 2041 . . . . . . . . . . . . . . . . . . . . April 2041 . . . . . . . . . . . . . . . . . . . . . May 2041 . . . . . . . . . . . . . . . . . . . . . . June 2041 . . . . . . . . . . . . . . . . . . . . . . July 2041 . . . . . . . . . . . . . . . . . . . . . . August 2041 . . . . . . . . . . . . . . . . . . . . September 2041 . . . . . . . . . . . . . . . . . October 2041 . . . . . . . . . . . . . . . . . . . November 2041 . . . . . . . . . . . . . . . . . December 2041 . . . . . . . . . . . . . . . . . January 2042 . . . . . . . . . . . . . . . . . . . February 2042 . . . . . . . . . . . . . . . . . . March 2042 . . . . . . . . . . . . . . . . . . . . April 2042 . . . . . . . . . . . . . . . . . . . . . May 2042 . . . . . . . . . . . . . . . . . . . . . . June 2042 . . . . . . . . . . . . . . . . . . . . . . July 2042 . . . . . . . . . . . . . . . . . . . . . . August 2042 . . . . . . . . . . . . . . . . . . . . September 2042 . . . . . . . . . . . . . . . . . October 2042 . . . . . . . . . . . . . . . . . . . November 2042 . . . . . . . . . . . . . . . . . December 2042 . . . . . . . . . . . . . . . . . January 2043 . . . . . . . . . . . . . . . . . . . February 2043 . . . . . . . . . . . . . . . . . . March 2043 . . . . . . . . . . . . . . . . . . . . April 2043 . . . . . . . . . . . . . . . . . . . . . May 2043 . . . . . . . . . . . . . . . . . . . . . . June 2043 . . . . . . . . . . . . . . . . . . . . . . July 2043 . . . . . . . . . . . . . . . . . . . . . . August 2043 . . . . . . . . . . . . . . . . . . . . September 2043 . . . . . . . . . . . . . . . . . October 2043 . . . . . . . . . . . . . . . . . . . November 2043 . . . . . . . . . . . . . . . . . December 2043 . . . . . . . . . . . . . . . . . January 2044 . . . . . . . . . . . . . . . . . . . February 2044 . . . . . . . . . . . . . . . . . . March 2044 . . . . . . . . . . . . . . . . . . . . April 2044 . . . . . . . . . . . . . . . . . . . . . May 2044 . . . . . . . . . . . . . . . . . . . . . . June 2044 . . . . . . . . . . . . . . . . . . . . . .

$ 179,212.97 175,508.37 171,866.67 168,286.91 164,768.10 161,309.31 157,909.59 154,568.02 151,283.70 148,055.72 144,883.22 141,765.31 138,701.14 135,689.87 132,730.67 129,822.73 126,965.22 124,157.37 121,398.38 118,687.50 116,023.95 113,407.00 110,835.90 108,309.93 105,828.37 103,390.53 100,995.71 98,643.23 96,332.40 94,062.58 91,833.11 89,643.34 87,492.65 85,380.41 83,306.00 81,268.82 79,268.28 77,303.78 75,374.76 73,480.63 71,620.85 69,794.85 68,002.10 66,242.06 64,514.19 62,817.99 61,152.94 59,518.54

$ 681,655.48 667,283.56 653,161.50 639,285.32 625,651.09 612,254.96 599,093.12 586,161.83 573,457.39 560,976.18 548,714.62 536,669.19 524,836.42 513,212.89 501,795.24 490,580.15 479,564.37 468,744.69 458,117.93 447,680.99 437,430.80 427,364.34 417,478.64 407,770.77 398,237.84 388,877.01 379,685.50 370,660.55 361,799.44 353,099.51 344,558.14 336,172.73 327,940.74 319,859.66 311,927.02 304,140.39 296,497.38 288,995.62 281,632.81 274,406.64 267,314.88 260,355.32 253,525.76 246,824.07 240,248.13 233,795.85 227,465.20 221,254.16

$ 3,056.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$ 340,692.15 332,091.05 323,681.53 315,459.62 307,421.38 299,562.99 291,880.67 284,370.74 277,029.59 269,853.68 262,839.53 255,983.76 249,283.03 242,734.07 236,333.70 230,078.76 223,966.21 217,993.02 212,156.26 206,453.02 200,880.49 195,435.90 190,116.52 184,919.70 179,842.82 174,883.34 170,038.76 165,306.62 160,684.52 156,170.11 151,761.08 147,455.18 143,250.20 139,143.97 135,134.36 131,219.30 127,396.75 123,664.72 120,021.25 116,464.43 112,992.39 109,603.28 106,295.32 103,066.73 99,915.79 96,840.82 93,840.15 90,912.17

S-II-14


July 2044 . . . . . . . . . . . . . . . . . . . . . . August 2044 . . . . . . . . . . . . . . . . . . . . September 2044 . . . . . . . . . . . . . . . . . October 2044 . . . . . . . . . . . . . . . . . . . November 2044 . . . . . . . . . . . . . . . . . December 2044 . . . . . . . . . . . . . . . . . January 2045 . . . . . . . . . . . . . . . . . . . February 2045 . . . . . . . . . . . . . . . . . . March 2045 . . . . . . . . . . . . . . . . . . . . April 2045 . . . . . . . . . . . . . . . . . . . . . May 2045 . . . . . . . . . . . . . . . . . . . . . . June 2045 . . . . . . . . . . . . . . . . . . . . . . July 2045 . . . . . . . . . . . . . . . . . . . . . . August 2045 . . . . . . . . . . . . . . . . . . . . September 2045 . . . . . . . . . . . . . . . . . October 2045 . . . . . . . . . . . . . . . . . . . November 2045 . . . . . . . . . . . . . . . . . December 2045 . . . . . . . . . . . . . . . . . January 2046 . . . . . . . . . . . . . . . . . . . February 2046 . . . . . . . . . . . . . . . . . . March 2046 . . . . . . . . . . . . . . . . . . . . April 2046 . . . . . . . . . . . . . . . . . . . . . May 2046 . . . . . . . . . . . . . . . . . . . . . . June 2046 . . . . . . . . . . . . . . . . . . . . . . July 2046 . . . . . . . . . . . . . . . . . . . . . . August 2046 . . . . . . . . . . . . . . . . . . . . September 2046 . . . . . . . . . . . . . . . . . October 2046 . . . . . . . . . . . . . . . . . . . November 2046 . . . . . . . . . . . . . . . . . December 2046 . . . . . . . . . . . . . . . . . January 2047 . . . . . . . . . . . . . . . . . . . February 2047 . . . . . . . . . . . . . . . . . . March 2047 . . . . . . . . . . . . . . . . . . . . April 2047 . . . . . . . . . . . . . . . . . . . . . May 2047 . . . . . . . . . . . . . . . . . . . . . . June 2047 . . . . . . . . . . . . . . . . . . . . . . July 2047 . . . . . . . . . . . . . . . . . . . . . . August 2047 . . . . . . . . . . . . . . . . . . . . September 2047 . . . . . . . . . . . . . . . . . October 2047 . . . . . . . . . . . . . . . . . . . November 2047 . . . . . . . . . . . . . . . . . December 2047 . . . . . . . . . . . . . . . . . January 2048 . . . . . . . . . . . . . . . . . . . February 2048 . . . . . . . . . . . . . . . . . . March 2048 . . . . . . . . . . . . . . . . . . . . April 2048 . . . . . . . . . . . . . . . . . . . . . May 2048 . . . . . . . . . . . . . . . . . . . . . . June 2048 . . . . . . . . . . . . . . . . . . . . . .

$ 57,914.28 56,339.69 54,794.28 53,277.57 51,789.10 50,328.41 48,895.05 47,488.57 46,108.53 44,754.51 43,426.06 42,122.78 40,844.26 39,590.08 38,359.84 37,153.16 35,969.64 34,808.90 33,670.56 32,554.26 31,459.63 30,386.31 29,333.95 28,302.19 27,290.70 26,299.14 25,327.17 24,374.47 23,440.72 22,525.60 21,628.79 20,749.99 19,888.89 19,045.21 18,218.64 17,408.89 16,615.68 15,838.74 15,077.78 14,332.54 13,602.74 12,888.12 12,188.43 11,503.41 10,832.81 10,176.38 9,533.88 8,905.07

$ 215,160.74 209,182.98 203,318.97 197,566.81 191,924.63 186,390.61 180,962.92 175,639.80 170,419.50 165,300.28 160,280.46 155,358.37 150,532.35 145,800.80 141,162.12 136,614.74 132,157.12 127,787.74 123,505.10 119,307.74 115,194.20 111,163.07 107,212.93 103,342.40 99,550.13 95,834.78 92,195.03 88,629.59 85,137.18 81,716.54 78,366.45 75,085.68 71,873.04 68,727.34 65,647.44 62,632.20 59,680.48 56,791.18 53,963.23 51,195.54 48,487.08 45,836.79 43,243.66 40,706.70 38,224.91 35,797.32 33,422.98 31,100.95

$ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$ 88,055.29 85,267.95 82,548.64 79,895.85 77,308.13 74,784.05 72,322.21 69,921.24 67,579.79 65,296.55 63,070.23 60,899.56 58,783.33 56,720.30 54,709.31 52,749.18 50,838.80 48,977.03 47,162.81 45,395.05 43,672.72 41,994.80 40,360.28 38,768.19 37,217.57 35,707.48 34,237.00 32,805.24 31,411.31 30,054.35 28,733.52 27,447.99 26,196.96 24,979.63 23,795.23 22,643.01 21,522.21 20,432.12 19,372.03 18,341.23 17,339.05 16,364.83 15,417.91 14,497.65 13,603.43 12,734.65 11,890.69 11,070.98

S-II-15


July 2048 . . . . . . . . . . . . . . . . . . . . . . August 2048 . . . . . . . . . . . . . . . . . . . . September 2048 . . . . . . . . . . . . . . . . . October 2048 . . . . . . . . . . . . . . . . . . . November 2048 . . . . . . . . . . . . . . . . . December 2048 . . . . . . . . . . . . . . . . . January 2049 . . . . . . . . . . . . . . . . . . . February 2049 . . . . . . . . . . . . . . . . . . March 2049 . . . . . . . . . . . . . . . . . . . . April 2049 . . . . . . . . . . . . . . . . . . . . . May 2049 . . . . . . . . . . . . . . . . . . . . . . June 2049 . . . . . . . . . . . . . . . . . . . . . . July 2049 . . . . . . . . . . . . . . . . . . . . . . August 2049 . . . . . . . . . . . . . . . . . . . . September 2049 . . . . . . . . . . . . . . . . . October 2049 . . . . . . . . . . . . . . . . . . . November 2049 . . . . . . . . . . . . . . . . . December 2049 . . . . . . . . . . . . . . . . . January 2050 . . . . . . . . . . . . . . . . . . . February 2050 . . . . . . . . . . . . . . . . . . March 2050 and thereafter . . . . . . . .

$ 8,289.72 7,687.59 7,098.45 6,522.08 5,958.26 5,406.77 4,867.40 4,339.93 3,824.16 3,319.89 2,826.91 2,345.02 1,874.04 1,413.76

964.01 524.59 95.32 0.00 0.00 0.00 0.00

$ 28,830.30 26,610.12 24,439.52 22,317.62 20,243.54 18,216.45 16,235.49 14,327.51 12,463.35 10,642.24 8,863.39 7,126.06 5,564.88 4,040.44 3,245.33 2,468.84 1,710.61 1,091.90

569.15 153.51

0.00

$ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$ 10,274.95 9,502.03 8,751.68 8,023.37 7,316.56 6,630.74 5,965.42 5,320.10 4,694.31 4,087.56 3,499.41 2,929.41 2,377.10 1,842.07 1,323.89

822.16 336.46

0.00 0.00 0.00 0.00

S-II-16

Classes EA and EB Distribution Date Class JA Class GA Class GB (in the aggregate)

Initial Balance . . . . . . . . . . . . . . . . . . $37,587,000.00 $11,373,000.00 $12,958,000.00 $49,625,000.00 August 2020 . . . . . . . . . . . . . . . . . . . 37,426,254.50 11,312,873.64 12,922,085.49 49,473,381.25 September 2020 . . . . . . . . . . . . . . . . 37,253,458.27 11,249,147.71 12,881,972.75 49,304,078.80 October 2020 . . . . . . . . . . . . . . . . . . 37,068,689.07 11,181,854.69 12,837,673.86 49,117,156.50 November 2020 . . . . . . . . . . . . . . . . 36,872,033.89 11,111,029.81 12,789,204.17 48,912,692.68 December 2020 . . . . . . . . . . . . . . . . . 36,663,588.91 11,036,711.03 12,736,582.21 48,690,780.16 January 2021 . . . . . . . . . . . . . . . . . . . 36,443,459.46 10,958,938.99 12,679,829.69 48,451,526.11 February 2021 . . . . . . . . . . . . . . . . . . 36,211,759.86 10,877,757.01 12,618,971.56 48,195,052.09 March 2021 . . . . . . . . . . . . . . . . . . . . 35,968,613.38 10,793,210.99 12,554,035.91 47,921,493.88 April 2021 . . . . . . . . . . . . . . . . . . . . . 35,714,152.10 10,705,349.42 12,485,054.00 47,631,001.43 May 2021 . . . . . . . . . . . . . . . . . . . . . . 35,448,516.82 10,614,223.31 12,412,060.22 47,323,738.70 June 2021 . . . . . . . . . . . . . . . . . . . . . 35,171,856.87 10,519,886.11 12,335,092.07 46,999,883.52 July 2021 . . . . . . . . . . . . . . . . . . . . . . 34,884,330.03 10,422,393.73 12,254,190.11 46,659,627.44 August 2021 . . . . . . . . . . . . . . . . . . . 34,586,102.32 10,321,804.40 12,169,397.96 46,303,175.54 September 2021 . . . . . . . . . . . . . . . . 34,277,347.86 10,218,178.65 12,080,762.21 45,930,746.21 October 2021 . . . . . . . . . . . . . . . . . . 33,958,248.69 10,111,579.25 11,988,332.42 45,542,570.96 November 2021 . . . . . . . . . . . . . . . . 33,628,994.58 10,002,071.13 11,892,161.07 45,138,894.15 December 2021 . . . . . . . . . . . . . . . . . 33,289,782.81 9,889,721.31 11,792,303.47 44,719,972.73 January 2022 . . . . . . . . . . . . . . . . . . . 32,940,818.01 9,774,598.83 11,688,817.75 44,286,075.99 February 2022 . . . . . . . . . . . . . . . . . . 32,582,311.89 9,656,774.68 11,581,764.75 43,837,485.26 March 2022 . . . . . . . . . . . . . . . . . . . . 32,214,483.03 9,536,321.72 11,471,208.03 43,374,493.55 April 2022 . . . . . . . . . . . . . . . . . . . . . 31,837,556.66 9,413,314.58 11,357,213.73 42,897,405.29 May 2022 . . . . . . . . . . . . . . . . . . . . . . 31,452,013.18 9,287,895.79 11,239,850.55 42,406,535.94 June 2022 . . . . . . . . . . . . . . . . . . . . . 31,058,305.80 9,161,208.21 11,119,189.64 41,902,211.66 July 2022 . . . . . . . . . . . . . . . . . . . . . . 30,656,665.56 9,034,024.87 10,995,304.55 41,384,768.89 August 2022 . . . . . . . . . . . . . . . . . . . 30,250,192.94 8,907,255.65 10,868,271.16 40,854,554.02 September 2022 . . . . . . . . . . . . . . . . 29,839,053.81 8,781,077.87 10,738,167.56 40,311,922.92 October 2022 . . . . . . . . . . . . . . . . . . 29,424,176.15 8,655,949.72 10,605,073.99 39,757,240.60 November 2022 . . . . . . . . . . . . . . . . 29,012,679.84 8,531,862.18 10,469,072.75 39,190,880.69 December 2022 . . . . . . . . . . . . . . . . . 28,604,536.11 8,408,806.27 10,330,248.09 38,613,225.09 January 2023 . . . . . . . . . . . . . . . . . . . 28,199,716.38 8,286,773.10 10,188,686.14 38,040,696.21 February 2023 . . . . . . . . . . . . . . . . . . 27,798,192.35 8,165,753.85 10,048,267.01 37,473,248.38 March 2023 . . . . . . . . . . . . . . . . . . . . 27,399,935.93 8,045,739.79 9,908,981.07 36,910,836.32 April 2023 . . . . . . . . . . . . . . . . . . . . . 27,004,919.23 7,926,722.24 9,770,818.76 36,353,415.15 May 2023 . . . . . . . . . . . . . . . . . . . . . . 26,613,114.64 7,808,692.59 9,633,770.62 35,800,940.36 June 2023 . . . . . . . . . . . . . . . . . . . . . 26,224,494.72 7,691,642.32 9,497,827.25 35,253,367.84 July 2023 . . . . . . . . . . . . . . . . . . . . . . 25,839,032.30 7,575,562.96 9,362,979.32 34,710,653.85 August 2023 . . . . . . . . . . . . . . . . . . . 25,456,700.39 7,460,446.12 9,229,217.59 34,172,755.04 September 2023 . . . . . . . . . . . . . . . . 25,077,472.25 7,346,283.49 9,096,532.89 33,639,628.42 October 2023 . . . . . . . . . . . . . . . . . . 24,701,321.33 7,233,066.79 8,964,916.12 33,111,231.40 November 2023 . . . . . . . . . . . . . . . . 24,328,221.31 7,120,787.85 8,834,358.26 32,587,521.73 December 2023 . . . . . . . . . . . . . . . . . 23,958,146.10 7,009,438.55 8,704,850.36 32,068,457.54 January 2024 . . . . . . . . . . . . . . . . . . . 23,591,069.78 6,899,010.83 8,576,383.53 31,553,997.32 February 2024 . . . . . . . . . . . . . . . . . . 23,226,966.67 6,789,496.71 8,448,948.97 31,044,099.92 March 2024 . . . . . . . . . . . . . . . . . . . . 22,865,811.31 6,680,888.25 8,322,537.93 30,538,724.54 April 2024 . . . . . . . . . . . . . . . . . . . . . 22,507,578.40 6,573,177.62 8,197,141.77 30,037,830.75 May 2024 . . . . . . . . . . . . . . . . . . . . . . 22,152,242.89 6,466,357.01 8,072,751.86 29,541,378.44 June 2024 . . . . . . . . . . . . . . . . . . . . . 21,799,779.91 6,360,418.70 7,949,359.70 29,049,327.89

S-II-17


July 2024 . . . . . . . . . . . . . . . . . . . . . . $21,450,164.81 $ 6,255,355.01 $ 7,826,956.81 $28,561,639.69 August 2024 . . . . . . . . . . . . . . . . . . . 21,103,373.12 6,151,158.36 7,705,534.82 28,078,274.77 September 2024 . . . . . . . . . . . . . . . . 20,759,380.57 6,047,821.20 7,585,085.38 27,599,194.43 October 2024 . . . . . . . . . . . . . . . . . . 20,418,163.10 5,945,336.05 7,465,600.26 27,124,360.29 November 2024 . . . . . . . . . . . . . . . . 20,079,696.85 5,843,695.49 7,347,071.25 26,653,734.28 December 2024 . . . . . . . . . . . . . . . . . 19,743,958.12 5,742,892.18 7,229,490.24 26,187,278.69 January 2025 . . . . . . . . . . . . . . . . . . . 19,410,923.45 5,642,918.81 7,112,849.17 25,724,956.13 February 2025 . . . . . . . . . . . . . . . . . . 19,080,569.52 5,543,768.16 6,997,140.03 25,266,729.52 March 2025 . . . . . . . . . . . . . . . . . . . . 18,752,873.25 5,445,433.04 6,882,354.92 24,812,562.12 April 2025 . . . . . . . . . . . . . . . . . . . . . 18,427,811.70 5,347,906.34 6,768,485.94 24,362,417.51 May 2025 . . . . . . . . . . . . . . . . . . . . . . 18,105,362.15 5,251,181.01 6,655,525.32 23,916,259.55 June 2025 . . . . . . . . . . . . . . . . . . . . . 17,785,502.06 5,155,250.03 6,543,465.30 23,474,052.47 July 2025 . . . . . . . . . . . . . . . . . . . . . . 17,468,209.05 5,060,106.48 6,432,298.22 23,035,760.77 August 2025 . . . . . . . . . . . . . . . . . . . 17,153,460.94 4,965,743.46 6,322,016.45 22,601,349.26 September 2025 . . . . . . . . . . . . . . . . 16,841,235.73 4,872,154.14 6,212,612.44 22,170,783.08 October 2025 . . . . . . . . . . . . . . . . . . 16,531,511.60 4,779,331.76 6,104,078.70 21,744,027.64 November 2025 . . . . . . . . . . . . . . . . 16,224,266.90 4,687,269.60 5,996,407.80 21,321,048.69 December 2025 . . . . . . . . . . . . . . . . . 15,919,480.16 4,595,960.99 5,889,592.37 20,901,812.23 January 2026 . . . . . . . . . . . . . . . . . . . 15,617,130.09 4,505,399.33 5,783,625.09 20,486,284.60 February 2026 . . . . . . . . . . . . . . . . . . 15,317,195.55 4,415,578.07 5,678,498.71 20,074,432.40 March 2026 . . . . . . . . . . . . . . . . . . . . 15,019,655.60 4,326,490.71 5,574,206.04 19,666,222.53 April 2026 . . . . . . . . . . . . . . . . . . . . . 14,724,489.46 4,238,421.67 5,470,739.93 19,261,622.20 May 2026 . . . . . . . . . . . . . . . . . . . . . . 14,431,676.51 4,152,092.73 5,368,093.32 18,860,598.86 June 2026 . . . . . . . . . . . . . . . . . . . . . 14,141,196.31 4,067,470.21 5,266,259.16 18,463,120.29 July 2026 . . . . . . . . . . . . . . . . . . . . . . 13,855,821.48 3,984,521.07 5,165,230.51 18,069,154.51 August 2026 . . . . . . . . . . . . . . . . . . . 13,576,039.86 3,903,212.91 5,065,000.45 17,678,669.84 September 2026 . . . . . . . . . . . . . . . . 13,301,744.00 3,823,513.96 4,965,562.12 17,291,999.69 October 2026 . . . . . . . . . . . . . . . . . . 13,032,828.51 3,745,393.02 4,866,908.73 16,913,589.38 November 2026 . . . . . . . . . . . . . . . . 12,769,189.96 3,668,819.52 4,769,388.65 16,543,265.44 December 2026 . . . . . . . . . . . . . . . . . 12,510,726.90 3,593,763.46 4,673,768.33 16,180,857.96 January 2027 . . . . . . . . . . . . . . . . . . . 12,257,339.80 3,520,195.42 4,580,011.46 15,826,200.59 February 2027 . . . . . . . . . . . . . . . . . . 12,008,931.00 3,448,086.52 4,488,082.44 15,479,130.40 March 2027 . . . . . . . . . . . . . . . . . . . . 11,765,404.72 3,377,408.45 4,397,946.33 15,139,487.87 April 2027 . . . . . . . . . . . . . . . . . . . . . 11,526,666.97 3,308,133.43 4,309,568.86 14,807,116.78 May 2027 . . . . . . . . . . . . . . . . . . . . . . 11,292,625.56 3,240,234.23 4,222,916.39 14,481,864.14 June 2027 . . . . . . . . . . . . . . . . . . . . . 11,063,190.02 3,173,684.13 4,137,955.92 14,163,580.15 July 2027 . . . . . . . . . . . . . . . . . . . . . . 10,838,271.63 3,108,456.90 4,054,655.08 13,852,118.14 August 2027 . . . . . . . . . . . . . . . . . . . 10,617,783.33 3,044,526.84 3,972,982.09 13,547,334.45 September 2027 . . . . . . . . . . . . . . . . 10,401,639.71 2,981,868.73 3,892,905.79 13,249,088.44 October 2027 . . . . . . . . . . . . . . . . . . 10,189,757.02 2,920,457.84 3,814,395.61 12,957,242.36 November 2027 . . . . . . . . . . . . . . . . 9,982,053.04 2,860,269.89 3,737,421.53 12,671,661.36 December 2027 . . . . . . . . . . . . . . . . . 9,778,447.15 2,801,281.09 3,661,954.13 12,392,213.36 January 2028 . . . . . . . . . . . . . . . . . . . 9,578,860.26 2,743,468.10 3,587,964.53 12,118,769.05 February 2028 . . . . . . . . . . . . . . . . . . 9,383,214.77 2,686,808.02 3,515,424.38 11,851,201.81 March 2028 . . . . . . . . . . . . . . . . . . . . 9,191,434.56 2,631,278.38 3,444,305.89 11,589,387.63 April 2028 . . . . . . . . . . . . . . . . . . . . . 9,003,444.95 2,576,857.17 3,374,581.78 11,333,205.12 May 2028 . . . . . . . . . . . . . . . . . . . . . . 8,819,172.69 2,523,522.76 3,306,225.30 11,082,535.37 June 2028 . . . . . . . . . . . . . . . . . . . . . 8,638,545.92 2,471,253.98 3,239,210.19 10,837,261.99

S-II-18


July 2028 . . . . . . . . . . . . . . . . . . . . . . $ 8,461,494.15 $ 2,420,030.04 $ 3,173,510.70 $10,597,270.99 August 2028 . . . . . . . . . . . . . . . . . . . 8,287,948.21 2,369,830.54 3,109,101.55 10,362,450.76 September 2028 . . . . . . . . . . . . . . . . 8,117,840.27 2,320,635.49 3,045,957.95 10,132,692.01 October 2028 . . . . . . . . . . . . . . . . . . 7,951,103.79 2,272,425.28 2,984,055.58 9,907,887.74 November 2028 . . . . . . . . . . . . . . . . 7,787,673.48 2,225,180.66 2,923,370.57 9,687,933.17 December 2028 . . . . . . . . . . . . . . . . . 7,627,485.30 2,178,882.78 2,863,879.51 9,472,725.70 January 2029 . . . . . . . . . . . . . . . . . . . 7,470,476.44 2,133,513.12 2,805,559.44 9,262,164.89 February 2029 . . . . . . . . . . . . . . . . . . 7,316,585.28 2,089,053.54 2,748,387.82 9,056,152.37 March 2029 . . . . . . . . . . . . . . . . . . . . 7,165,751.37 2,045,486.23 2,692,342.54 8,854,591.84 April 2029 . . . . . . . . . . . . . . . . . . . . . 7,017,915.41 2,002,793.73 2,637,401.92 8,657,389.01 May 2029 . . . . . . . . . . . . . . . . . . . . . . 6,873,019.23 1,960,958.92 2,583,544.67 8,464,451.54 June 2029 . . . . . . . . . . . . . . . . . . . . . 6,731,005.80 1,919,965.01 2,530,749.92 8,275,689.04 July 2029 . . . . . . . . . . . . . . . . . . . . . . 6,591,819.12 1,879,795.52 2,478,997.20 8,091,012.99 August 2029 . . . . . . . . . . . . . . . . . . . 6,455,404.32 1,840,434.29 2,428,266.41 7,910,336.73 September 2029 . . . . . . . . . . . . . . . . 6,321,707.53 1,801,865.48 2,378,537.84 7,733,575.41 October 2029 . . . . . . . . . . . . . . . . . . 6,190,675.93 1,764,073.55 2,329,792.16 7,560,645.94 November 2029 . . . . . . . . . . . . . . . . 6,062,257.70 1,727,043.27 2,282,010.40 7,391,466.99 December 2029 . . . . . . . . . . . . . . . . . 5,936,402.03 1,690,759.67 2,235,173.95 7,225,958.91 January 2030 . . . . . . . . . . . . . . . . . . . 5,813,059.04 1,655,208.11 2,189,264.55 7,064,043.72 February 2030 . . . . . . . . . . . . . . . . . . 5,692,179.85 1,620,374.21 2,144,264.30 6,905,645.09 March 2030 . . . . . . . . . . . . . . . . . . . . 5,573,716.48 1,586,243.86 2,100,155.62 6,750,688.25 April 2030 . . . . . . . . . . . . . . . . . . . . . 5,457,621.88 1,552,803.24 2,056,921.28 6,599,100.03 May 2030 . . . . . . . . . . . . . . . . . . . . . . 5,343,849.90 1,520,038.78 2,014,544.38 6,450,808.77 June 2030 . . . . . . . . . . . . . . . . . . . . . 5,232,355.27 1,487,937.19 1,973,008.32 6,305,744.33 July 2030 . . . . . . . . . . . . . . . . . . . . . . 5,123,093.60 1,456,485.42 1,932,296.84 6,163,838.01 August 2030 . . . . . . . . . . . . . . . . . . . 5,016,021.32 1,425,670.67 1,892,393.96 6,025,022.58 September 2030 . . . . . . . . . . . . . . . . 4,911,095.71 1,395,480.42 1,853,284.04 5,889,232.20 October 2030 . . . . . . . . . . . . . . . . . . 4,808,274.88 1,365,902.34 1,814,951.72 5,756,402.42 November 2030 . . . . . . . . . . . . . . . . 4,707,517.73 1,336,924.38 1,777,381.92 5,626,470.13 December 2030 . . . . . . . . . . . . . . . . . 4,608,783.95 1,308,534.70 1,740,559.86 5,499,373.55 January 2031 . . . . . . . . . . . . . . . . . . . 4,512,033.99 1,280,721.70 1,704,471.04 5,375,052.20 February 2031 . . . . . . . . . . . . . . . . . . 4,417,229.08 1,253,474.00 1,669,101.24 5,253,446.86 March 2031 . . . . . . . . . . . . . . . . . . . . 4,324,331.17 1,226,780.44 1,634,436.51 5,134,499.56 April 2031 . . . . . . . . . . . . . . . . . . . . . 4,233,302.97 1,200,630.08 1,600,463.16 5,018,153.55 May 2031 . . . . . . . . . . . . . . . . . . . . . . 4,144,107.87 1,175,012.18 1,567,167.76 4,904,353.25 June 2031 . . . . . . . . . . . . . . . . . . . . . 4,056,709.99 1,149,916.22 1,534,537.14 4,793,044.28 July 2031 . . . . . . . . . . . . . . . . . . . . . . 3,971,074.13 1,125,331.88 1,502,558.38 4,684,173.37 August 2031 . . . . . . . . . . . . . . . . . . . 3,887,165.76 1,101,249.04 1,471,218.81 4,577,688.40 September 2031 . . . . . . . . . . . . . . . . 3,804,951.02 1,077,657.78 1,440,505.99 4,473,538.33 October 2031 . . . . . . . . . . . . . . . . . . 3,724,396.69 1,054,548.36 1,410,407.74 4,371,673.18 November 2031 . . . . . . . . . . . . . . . . 3,645,470.21 1,031,911.23 1,380,912.10 4,272,044.04 December 2031 . . . . . . . . . . . . . . . . . 3,568,139.62 1,009,737.05 1,352,007.32 4,174,603.03 January 2032 . . . . . . . . . . . . . . . . . . . 3,492,373.60 988,016.62 1,323,681.89 4,079,303.27 February 2032 . . . . . . . . . . . . . . . . . . 3,418,141.41 966,740.96 1,295,924.54 3,986,098.87 March 2032 . . . . . . . . . . . . . . . . . . . . 3,345,412.90 945,901.24 1,268,724.19 3,894,944.90 April 2032 . . . . . . . . . . . . . . . . . . . . . 3,274,158.54 925,488.80 1,242,069.97 3,805,797.37 May 2032 . . . . . . . . . . . . . . . . . . . . . . 3,204,349.31 905,495.16 1,215,951.24 3,718,613.25 June 2032 . . . . . . . . . . . . . . . . . . . . . 3,135,956.79 885,912.00 1,190,357.53 3,633,350.38

S-II-19

Distribution Date Class JA Class GA Class GB Classes EA and EB (in the aggregate)

July 2032 . . . . . . . . . . . . . . . . . . . . . . August 2032 . . . . . . . . . . . . . . . . . . . September 2032 . . . . . . . . . . . . . . . . October 2032 . . . . . . . . . . . . . . . . . . November 2032 . . . . . . . . . . . . . . . . December 2032 . . . . . . . . . . . . . . . . . January 2033 . . . . . . . . . . . . . . . . . . . February 2033 . . . . . . . . . . . . . . . . . . March 2033 . . . . . . . . . . . . . . . . . . . . April 2033 . . . . . . . . . . . . . . . . . . . . . May 2033 . . . . . . . . . . . . . . . . . . . . . . June 2033 . . . . . . . . . . . . . . . . . . . . . July 2033 . . . . . . . . . . . . . . . . . . . . . . August 2033 . . . . . . . . . . . . . . . . . . . September 2033 . . . . . . . . . . . . . . . . October 2033 . . . . . . . . . . . . . . . . . . November 2033 . . . . . . . . . . . . . . . . December 2033 . . . . . . . . . . . . . . . . . January 2034 . . . . . . . . . . . . . . . . . . . February 2034 . . . . . . . . . . . . . . . . . . March 2034 . . . . . . . . . . . . . . . . . . . . April 2034 . . . . . . . . . . . . . . . . . . . . . May 2034 . . . . . . . . . . . . . . . . . . . . . . June 2034 . . . . . . . . . . . . . . . . . . . . . July 2034 . . . . . . . . . . . . . . . . . . . . . . August 2034 . . . . . . . . . . . . . . . . . . . September 2034 . . . . . . . . . . . . . . . . October 2034 . . . . . . . . . . . . . . . . . . November 2034 . . . . . . . . . . . . . . . . December 2034 . . . . . . . . . . . . . . . . . January 2035 . . . . . . . . . . . . . . . . . . . February 2035 . . . . . . . . . . . . . . . . . . March 2035 . . . . . . . . . . . . . . . . . . . . April 2035 . . . . . . . . . . . . . . . . . . . . . May 2035 . . . . . . . . . . . . . . . . . . . . . . June 2035 . . . . . . . . . . . . . . . . . . . . . July 2035 . . . . . . . . . . . . . . . . . . . . . . August 2035 . . . . . . . . . . . . . . . . . . . September 2035 . . . . . . . . . . . . . . . . October 2035 . . . . . . . . . . . . . . . . . . November 2035 . . . . . . . . . . . . . . . . December 2035 . . . . . . . . . . . . . . . . . January 2036 . . . . . . . . . . . . . . . . . . . February 2036 . . . . . . . . . . . . . . . . . . March 2036 . . . . . . . . . . . . . . . . . . . . April 2036 . . . . . . . . . . . . . . . . . . . . . May 2036 . . . . . . . . . . . . . . . . . . . . . . June 2036 . . . . . . . . . . . . . . . . . . . . .

$ 3,068,953.10 3,003,310.89 2,939,003.33 2,876,004.13 2,814,287.49 2,753,828.11 2,694,601.17 2,636,582.36 2,579,747.80 2,524,074.09 2,469,538.30 2,416,117.91 2,363,790.85 2,312,535.47 2,262,330.57 2,213,155.31 2,164,989.29 2,117,812.50 2,071,605.30 2,026,348.46 1,982,023.08 1,938,610.67 1,896,093.08 1,854,452.51 1,813,671.50 1,773,732.94 1,734,620.06 1,696,316.39 1,658,805.81 1,622,072.49 1,586,100.92 1,550,875.88 1,516,382.46 1,482,606.04 1,449,532.27 1,417,147.10 1,385,436.73 1,354,387.65 1,323,986.61 1,294,220.61 1,265,076.90 1,236,542.99 1,208,606.65 1,181,255.84 1,154,478.80 1,128,263.99 1,102,600.09 1,077,475.99

$ 866,731.15 847,944.63 829,544.58 811,523.32 793,873.29 776,587.11 759,657.51 743,077.40 726,839.80 710,937.87 695,364.91 680,114.35 665,179.74 650,554.77 636,233.23 622,209.06 608,476.30 595,029.11 581,861.77 568,968.66 556,344.28 543,983.23 531,880.23 520,030.09 508,427.72 497,068.13 485,946.45 475,057.87 464,397.71 453,961.35 443,744.29 433,742.08 423,950.41 414,365.00 404,981.70 395,796.40 386,805.11 378,003.90 369,388.91 360,956.37 352,702.57 344,623.89 336,716.77 328,977.73 321,403.34 313,990.26 306,735.21 299,634.95

$ 1,165,278.60 1,140,704.40 1,116,625.06 1,093,030.92 1,069,912.47 1,047,260.42 1,025,065.64 1,003,319.18

982,012.25 961,136.24 940,682.71 920,643.36 901,010.07 881,774.88 862,929.96 844,467.64 826,380.42 808,660.90 791,301.86 774,296.21 757,636.98 741,317.35 725,330.63 709,670.26 694,329.80 679,302.93 664,583.46 650,165.33 636,042.57 622,209.35 608,659.94 595,388.72 582,390.19 569,658.94 557,189.68 544,977.21 533,016.43 521,302.35 509,830.08 498,594.80 487,591.81 476,816.49 466,264.30 455,930.80 445,811.65 435,902.55 426,199.33 416,697.88

$ 3,549,967.51 3,468,424.24 3,388,681.05 3,310,699.23 3,234,440.89 3,159,868.96 3,086,947.12 3,015,639.85 2,945,912.36 2,877,730.60 2,811,061.24 2,745,871.65 2,682,129.91 2,619,804.74 2,558,865.57 2,499,282.42 2,441,026.00 2,384,067.61 2,328,379.15 2,273,933.15 2,220,702.69 2,168,661.43 2,117,783.60 2,068,043.97 2,019,417.84 1,971,881.05 1,925,409.93 1,879,981.33 1,835,572.59 1,792,161.53 1,749,726.44 1,708,246.08 1,667,699.65 1,628,066.80 1,589,327.62 1,551,462.61 1,514,452.70 1,478,279.21 1,442,923.88 1,408,368.82 1,374,596.53 1,341,589.89 1,309,332.14 1,277,806.87 1,246,998.04 1,216,889.93 1,187,467.17 1,158,714.73

S-II-20



$ 1,052,880.82 1,028,803.92 1,005,234.81

982,163.26 959,579.21 937,472.80 915,834.37 894,654.46 873,923.77 853,633.20 833,773.84 814,336.92 795,313.88 776,696.30 758,475.95 740,644.74 723,194.76 706,118.24 689,407.56 673,055.28 657,054.07 641,396.76 626,076.33 611,085.89 596,418.69 582,068.11 568,027.65 554,290.97 540,851.83 527,704.12 514,841.84 502,259.14 489,950.26 477,909.55 466,131.50 454,610.68 443,341.79 432,319.62 421,539.07 410,995.15 400,682.96 390,597.69 380,734.63 371,089.19 361,656.84 352,433.15 343,413.78 334,594.47

$ 292,686.34 285,886.29 279,231.75 272,719.77 266,347.43 260,111.86 254,010.28 248,039.94 242,198.15 236,482.27 230,889.73 225,417.98 220,064.56 214,827.02 209,702.99 204,690.12 199,786.13 194,988.77 190,295.84 185,705.19 181,214.71 176,822.32 172,525.99 168,323.74 164,213.62 160,193.72 156,262.17 152,417.13 148,656.80 144,979.42 141,383.27 137,866.66 134,427.93 131,065.45 127,777.63 124,562.92 121,419.78 118,346.71 115,342.26 112,404.97 109,533.45 106,726.32 103,982.21 101,299.80 98,677.80 96,114.93 93,609.95 91,161.64

$ 407,394.17 398,284.26 389,364.26 380,630.38 372,078.89 363,706.16 355,508.59 347,482.67 339,624.97 331,932.11 324,400.78 317,027.74 309,809.79 302,743.84 295,826.81 289,055.71 282,427.60 275,939.59 269,588.87 263,372.65 257,288.23 251,332.94 245,504.17 239,799.35 234,215.99 228,751.62 223,403.82 218,170.23 213,048.54 208,036.48 203,131.80 198,332.33 193,635.93 189,040.50 184,543.98 180,144.35 175,839.64 171,627.91 167,507.25 163,475.81 159,531.76 155,673.31 151,898.70 148,206.21 144,594.16 141,060.90 137,604.81 134,224.30

$ 1,130,617.88 1,103,162.21 1,076,333.63 1,050,118.35 1,024,502.86

999,473.97 975,018.73 951,124.51 927,778.92 904,969.87 882,685.49 860,914.20 839,644.65 818,865.73 798,566.59 778,736.59 759,365.35 740,442.67 721,958.62 703,903.44 686,267.61 669,041.80 652,216.89 635,783.95 619,734.26 604,059.26 588,750.60 573,800.10 559,199.76 544,941.75 531,018.42 517,422.27 504,145.97 491,182.36 478,524.42 466,165.30 454,098.26 442,316.76 430,814.37 419,584.80 408,621.92 397,919.69 387,472.25 377,273.84 367,318.84 357,601.74 348,117.15 338,859.81

S-II-21



$ 325,971.06 317,539.47 309,295.69 301,235.79 293,355.94 285,652.36 278,121.36 270,759.34 263,562.73 256,528.08 249,651.97 242,931.07 236,362.12 229,941.90 223,667.29 217,535.21 211,542.65 205,686.65 199,964.34 194,372.86 188,909.45 183,571.39 178,356.01 173,260.71 168,282.92 163,420.14 158,669.92 154,029.85 149,497.57 145,070.79 140,747.23 136,524.68 132,400.98 128,374.00 124,441.65 120,601.90 116,852.75 113,192.24 109,618.46 106,129.53 102,723.60 99,398.89 96,153.62 92,986.07 89,894.54 86,877.38 83,932.96 81,059.70

$ 88,768.79 86,430.24 84,144.84 81,911.46 79,728.99 77,596.37 75,512.53 73,476.43 71,487.06 69,543.43 67,644.55 65,789.48 63,977.27 62,207.02 60,477.82 58,788.80 57,139.09 55,527.85 53,954.25 52,417.49 50,916.77 49,451.31 48,020.36 46,623.17 45,259.00 43,927.15 42,626.91 41,357.60 40,118.54 38,909.09 37,728.58 36,576.40 35,451.93 34,354.56 33,283.69 32,238.75 31,219.17 30,224.39 29,253.87 28,307.08 27,383.48 26,482.58 25,603.86 24,746.84 23,911.04 23,095.98 22,301.21 21,526.28

$ 130,917.81 127,683.81 124,520.82 121,427.37 118,402.02 115,443.37 112,550.02 109,720.64 106,953.90 104,248.50 101,603.16 99,016.64 96,487.71 94,015.18 91,597.87 89,234.64 86,924.34 84,665.89 82,458.19 80,300.18 78,190.83 76,129.11 74,114.02 72,144.59 70,219.86 68,338.88 66,500.74 64,704.53 62,949.37 61,234.40 59,558.75 57,921.61 56,322.15 54,759.58 53,233.12 51,741.99 50,285.45 48,862.76 47,473.19 46,116.05 44,790.65 43,496.29 42,232.32 40,998.09 39,792.96 38,616.30 37,467.51 36,345.98

$ 329,824.56 321,006.38 312,400.32 304,001.58 295,805.43 287,807.27 280,002.59 272,386.96 264,956.09 257,705.75 250,631.81 243,730.25 236,997.10 230,428.52 224,020.73 217,770.03 211,672.82 205,725.57 199,924.82 194,267.21 188,749.42 183,368.23 178,120.48 173,003.09 168,013.04 163,147.37 158,403.21 153,777.73 149,268.17 144,871.83 140,586.08 136,408.34 132,336.08 128,366.85 124,498.23 120,727.87 117,053.45 113,472.74 109,983.53 106,583.67 103,271.05 100,043.61 96,899.35 93,836.30 90,852.54 87,946.20 85,115.42 82,358.43

S-II-22



$ 78,256.03 75,520.44 72,851.42 70,247.51 67,707.29 65,229.35 62,812.32 60,454.85 58,155.62 55,913.34 53,726.76 51,594.63 49,515.74 47,488.91 45,512.97 43,586.80 41,709.27 39,879.29 38,095.81 36,357.76 34,664.14 33,013.94 31,406.18 29,839.89 28,314.15 26,828.03 25,380.62 23,971.06 22,598.47 21,262.01 19,960.85 18,694.19 17,461.23 16,261.20 15,093.34 13,956.90 12,851.16 11,775.41 10,728.95 9,711.10 8,721.19 7,758.58 6,822.61 5,912.67 5,028.15 4,168.44 3,411.26 2,675.15

$ 20,770.74 20,034.16 19,316.12 18,616.20 17,934.00 17,269.13 16,621.18 15,989.79 15,374.58 14,775.17 14,191.23 13,622.40 13,068.33 12,528.68 12,003.15 11,491.39 10,993.10 10,507.97 10,035.70 9,576.00 9,128.57 8,693.13 8,269.41 7,857.14 7,456.05 7,065.89 6,686.40 6,317.33 5,958.44 5,609.50 5,270.26 4,940.51 4,620.02 4,308.58 4,005.97 3,711.97 3,426.40 3,149.05 2,879.72 2,618.23 2,364.38 2,118.00 1,878.90 1,646.91 1,452.24 1,263.33 1,080.04

902.24

$ 35,251.12 34,182.37 33,139.15 32,120.92 31,127.14 30,157.27 29,210.79 28,287.20 27,386.01 26,506.71 25,648.84 24,811.93 23,995.52 23,199.15 22,422.40 21,664.83 20,926.02 20,205.56 19,503.03 18,818.06 18,150.24 17,499.20 16,864.57 16,245.98 15,643.08 15,055.51 14,482.94 13,925.04 13,381.46 12,851.90 12,336.03 11,833.56 11,344.17 10,867.58 10,403.49 9,951.62 9,511.71 9,083.46 8,666.63 8,260.94 7,866.15 7,482.01 7,108.27 6,744.70 6,391.05 6,047.11 5,712.65 5,387.45

$ 79,673.47 77,058.82 74,512.80 72,033.79 69,620.17 67,270.39 64,982.92 62,756.25 60,588.93 58,479.54 56,426.67 54,428.97 52,485.10 50,593.75 48,753.67 46,963.60 45,222.33 43,528.68 41,881.48 40,279.59 38,721.92 37,207.38 35,734.91 34,303.48 32,912.09 31,559.74 30,245.47 28,968.34 27,727.43 26,521.85 25,350.72 24,213.17 23,108.38 22,035.52 20,993.80 19,982.43 19,000.66 18,047.74 17,122.95 16,225.56 15,354.90 14,510.28 13,691.04 12,896.54 12,126.15 11,379.24 10,655.22 9,953.50

S-II-23


July 2048 . . . . . . . . . . . . . . . . . . . . . . August 2048 . . . . . . . . . . . . . . . . . . . September 2048 . . . . . . . . . . . . . . . . October 2048 . . . . . . . . . . . . . . . . . . November 2048 . . . . . . . . . . . . . . . . December 2048 . . . . . . . . . . . . . . . . . January 2049 . . . . . . . . . . . . . . . . . . . February 2049 . . . . . . . . . . . . . . . . . . March 2049 . . . . . . . . . . . . . . . . . . . . April 2049 . . . . . . . . . . . . . . . . . . . . . May 2049 . . . . . . . . . . . . . . . . . . . . . . June 2049 . . . . . . . . . . . . . . . . . . . . . July 2049 . . . . . . . . . . . . . . . . . . . . . . August 2049 . . . . . . . . . . . . . . . . . . . September 2049 . . . . . . . . . . . . . . . . October 2049 . . . . . . . . . . . . . . . . . . November 2049 . . . . . . . . . . . . . . . . December 2049 . . . . . . . . . . . . . . . . . January 2050 . . . . . . . . . . . . . . . . . . . February 2050 . . . . . . . . . . . . . . . . . . March 2050 . . . . . . . . . . . . . . . . . . . . April 2050 . . . . . . . . . . . . . . . . . . . . . May 2050 . . . . . . . . . . . . . . . . . . . . . . June 2050 and thereafter . . . . . . . . .

$ 1,959.63 1,264.21

588.40 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$ 729.79 562.57 400.45 246.40 97.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

$ 5,071.30 4,763.98 4,465.29 4,175.04 3,893.01 3,619.03 3,352.90 3,094.44 2,843.47 2,599.81 2,363.30 2,133.75 1,911.00 1,694.90 1,485.29 1,282.01 1,084.90

893.83 708.64 529.19 355.35 186.98 23.95 0.00

$ 9,273.51 8,614.69 7,976.50 7,358.38 6,759.84 6,180.36 5,619.43 5,076.59 4,551.35 4,043.25 3,551.84 3,076.68 2,617.34 2,173.41 1,744.47 1,330.12

929.98 543.65 170.78

0.00 0.00 0.00 0.00 0.00

S-II-24

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$939,958,998

Government National Mortgage Association

GINNIE MAE®

Guaranteed REMIC Pass-Through Securities

and MX Securities Ginnie Mae REMIC Trust 2020-098

OFFERING CIRCULAR SUPPLEMENT July 24, 2020

Goldman Sachs & Co. LLC Ramirez & Co., Inc.