Subject: CMBS Pricing (PRICE)

October 5, 2000 PNC Mortgage Acceptance Corp., Series 2000-C2ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePriceGuidance(BP)BenchMarkA-1200.623.75AaaAAA5.729-301-mo. Libor A-2620.0523.75AaaAAA9.439-401-mo. LiborB43.0519.75Aa2AA9.954-551-mo. LiborC48.415.25A2A9.968-691-mo. LiborD13.4514A3A-1078-791-mo. LiborE13.3412.75Baa1BBB+10220-22510-yr Treas.F18.811Baa2BBB10230-23510-yr Treas.G16.149.5Baa3BBB-10265 area10-yr Treas.H18.87.75Ba1BB+10490 area10-yr Treas.J29.65Ba2BB10NA--K8.074.25Ba3BB-10.2NA--L8.073.5B1B+12.4NA--M10.762.5B2B14.3NA--N5.42B3B-14.6NA--O21.5NANRNR15.1----X*1,076NAAaaAAA9.03NA--* Interest only, notional amount.

September 28, 2000 Go To Initial Price Guidance Table. J.P. Morgan Commercial Mortgage Finance Corp., Series 2000-C10ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriced(BP)BenchMarkA-195.523.25AAAAaa5.47+291-mo. LiborA-2471.323.25AAAAaa9 +401-mo. LiborB31.419AAAa29+551-mo. LiborC29.515AA29+681-mo. LiborD9.213.75A-A39+781-mo. LiborE23.0810.625BBBBaa29+237Treas.F*10.159.25BBB-BBB-9+270Treas.G*14.87.25BB+Ba1NANA--H*14.85.25BBBa2NANA--J*7.44.25BB-Ba3NANA--K*5.53.5B+B1NANA--L*7.42.5BB2NANA--M*5.51.75B-B3NANA--NR*12.90.00NRNRNANA--X**738.5+355***AAAAaaNANATreas.* Privately placed.** Interest only, notional amount.*** At 100 percent CPR.Go To Fitch's Presale Report.Go To Moody's ...

September 27, 2000Go To Initial Price Guidance.Bear Stearns Commercial Mortgage Securities, Series 2000-WF2ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriced(BP)BenchMarkA-1170.716.5AAAAAA5.75+261-mo. LiborA-2529.416.5AAAAAA9.61+371-mo. LiborB28.313.125AAAA9.88+511-mo. LiborC26.210AA9.94+641-mo. LiborD8.49A-A-9.94+741-mo. LiborE23.066.25BBBBBB10.22+225Treas.F7.35.375BBB-BBB-11.25+260Treas.G1.055.25BBB-NRNANA--H14.73.5BB+NRNANA--I6.32.75BBNRNANA--J6.32BB-NRNANA--K2.11.75B+NRNANA--L4.21.25BNRNANA--M2.11B-NRNANA--X838.5NAAAAAAA9.17+333*--* At 100 percent CPR.Go To Standard & Poor's Presale Report. Go To Fitch's Presale Report.

September 26, 2000 Go To Standard & Poor's Presale Report. Go To Fitch's Presale Report.Bear Stearns Commercial Mortgage Securities, Series 2000-WF2ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePrice Talk(BP)BenchMarkA-1170.716.5AAAAAA5.7+27-291-mo. LiborA-2529.416.5AAAAAA9.6+37-391-mo. LiborB28.313.125AAAA9+50-521-mo. LiborC26.210AA9+65 area1-mo. LiborD8.49A-A-9+75 area1-mo. LiborE23.066.25BBBBBB9+225 areaTreas.F7.35.375BBB-BBB-9+255 areaTreas.G1.055.25BBB-NRNANA--H14.73.5BB+NRNANA--I6.32.75BBNRNANA--J6.32BB-NRNANA--K2.11.75B+NRNANA--L4.21.25BNRNANA--M2.11B-NRNANA--X838.5NAAAAAAANANA--

September 26, 2000Go To Fitch's Presale Report.Go To Moody's Presale Report. J.P. Morgan Commercial Mortgage Finance Corp., Series 2000-C10ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePrice Talk(BP)BenchMarkA-195.523.25AAAAaa5.47+29-301-mo. LiborA-2471.323.25AAAAaa9 +39-411-mo. LiborB31.419AAAa29+53-551-mo. LiborC29.515AA29+66-681-mo. LiborD9.213.75A-A39+76-781-mo. LiborE23.0810.625BBBBaa29+240 areaTreas.F*10.159.25BBB-Baa39+255 areaTreas.G*14.87.25BB+Ba1NANA--H*14.85.25BBBa2NANA--J*7.44.25BB-Ba3NANA--K*5.53.5B+B1NANA--L*7.42.5BB2NANA--M*5.51.75B-B3NANA--NR*12.90.00NRNRNANA--X**738.5NAAAAAaaNANA--* Privately placed.** Interest only, notional amount.

September 22, 2000 Chase Commercial Mortgage Securities Corp. 2000-3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifePriced(BP)BenchMarkA-1120.223.875AAAAAA5.7+281-mo. LiborA-247123.875AAAAAA9.6+371-mo. LiborB36.919.125AAAA10+531-mo. LiborC31.0615.125AA10+651-mo. LiborD10.6813.75A-A-10+751-mo. LiborE24.2710.625BBBBBB10+230Treas.F7.769.625BBB-BBB-10+270Treas.X*776.6NAAAAAAA--+345**Treas.*Interest only, notional amount.** At 100 percent CPR.

September 21, 2000 Table includes initial price guidance.1345 Avenue of the Americas Trust, Series 2000-XL1345ClassAmount($mln)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA-146.6AAAAaa5.6+34-36+361-mo. LiborA-2233.3AAAAaa9.9+45-46+461-mo. LiborB50.9AAAa29.9+57-59+591-mo. LiborC49AA29.9+69-71+701-mo. LiborD19.5A-A39.9+80-82+801-mo. LiborE34.2BBBBaa29.9+220-225*+220Treas.F16.4BBBBaa3**9.9+240 area+238Treas.X***450AAAAaa--NA+265****Treas.* The class E, triple-B strip was shopped for a period at +212 bp, but moved back to original guidance ...

September 21, 2000 Go to initial price guidance.LB-UBS Commercial Mortgage Trust 2000-C4ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriced(BP)BnchMarkA-117021AAAAaa5.87+301-mo. LiborA-2619.321AAAAaa9.45+401-mo. LiborB42.516.75AAAa29.7+551-mo. LiborC4012.75AA29.7+681-mo. LiborD12.511.5A-A39.7+781-mo. LiborE7.510.75BBB+Baa19.8+220Treas.F17.59BBBBaa29.8+230Treas.G12.57.75NRBaa39.8+260Treas.H22.55.5NRBa1------J12.54.25NRBa2------K7.53.5NRBa3------L7.52.75NRB1------M6.21.75NRB2------N51.25NRB3------P16.2NRNRNR------X*999.1--AAAAaa------* Notional amount, interest only.

September 21, 2000 Go To S&P's Presale Report.Go To Fitch's Presale Report.Chase Commercial Mortgage Securities Corp. 2000-3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-1120.223.875AAAAAA5.7+27-291-mo. LiborA-247123.875AAAAAA9.6+37-391-mo. LiborB36.919.125AAAA10+52-541-mo. LiborC31.0615.125AA10+65-671-mo. LiborD10.6813.75A-A-10+75-771-mo. LiborE24.2710.625BBBBBB10+240 areaTreas.F7.769.625BBB-BBB-10+270 areaTreas.X*776.6NAAAAAAA--NA--*Interest only, notional amount.

September 20, 2000 Go To Story in the Commercial Real Estate Direct Archive.Table includes initial price guidance from September 18.FNMA 2000-M2ClassAmount($mln)Avg.LifePriceTalk(BP)Priced(BP)BenchmarkA325.7+7-10+85-yr. FNMA bonds(7%; July '05)B476.89.7+13 area+1410-yr. FNMA bonds(7.125%; June '10)X*2--NANA--* Interest only, notional amount.Underwriter: Donaldson, Lufkin & Jenrette