Exhibit 99.2

March 31, 2000

                             MANAGEMENT'S ASSERTION

      As of and for the year ended December 31, 1999, The CIT Group/Sales
Financing, Inc. and The CIT Group/Consumer Finance, Inc. (the Companies), both
wholly owned subsidiaries of The CIT Group, Inc., have complied in all material
respects with the minimum servicing standards as set forth in the Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers. As of and for this same period, the Companies had in effect a fidelity
bond and errors and omissions policy in the amount of $50 million and $5
million, respectively.

                                THE CIT GROUP/SALES FINANCING, INC.

                                /s/ Thomas B. Hallman
                                -------------------------------------
                                Thomas B. Hallman
                                President and Chief Executive Officer


                                THE CIT GROUP/CONSUMER FINANCE, INC.

                                /s/ Thomas B. Hallman
                                -------------------------------------
                                Thomas B. Hallman
                                President and Chief Executive Officer
<PAGE>

                           MINIMUM SERVICING STANDARDS

I. CUSTODIAL BANK ACCOUNTS

      1. Reconciliations shall be prepared on a monthly basis for all custodial
bank accounts and related bank clearing accounts. These reconciliations shall:

      o     be mathematically accurate;

      o     be prepared within forty-five (45) calendar days after the cutoff
            date;

      o     be reviewed and approved by someone other than the person who
            prepared the reconciliation; and

      o     document explanations for reconciling items. These reconciling items
            shall be resolved within ninety (90) calendar days of their original
            identification.

      2. Funds of the servicing entity shall be advanced in cases where there is
an overdraft in an investor's or a mortgagor's account.

      3. Each custodial account shall be maintained at a federally insured
depository institution in trust for the applicable investor.

      4. Escrow funds held in trust for a mortgagor shall be returned to the
mortgagor within thirty (30) calendar days of payoff of the mortgage loan.

II. MORTGAGE PAYMENTS

      1. Mortgage payments shall be deposited into the custodial bank accounts
and related bank clearing accounts within two business days of receipt (with the
exception of securitization servicing contracts for which custodial accounts are
not applicable).

      2. Mortgage payments made in accordance with the mortgagor's loan
documents shall be posted to the applicable mortgagor records within two
business days of receipt.

      3. Mortgage payments shall be allocated to principal, interest, insurance,
taxes or other escrow items in accordance with the mortgagor's loan documents.

      4. Mortgage payments identified as loan payoffs shall be allocated in
accordance with the mortgagor's loan documents.

III. DISBURSEMENTS

      1. Disbursements made via wire transfer on behalf of a mortgagor or
investor shall be made only by authorized personnel.

      2. Disbursements made on behalf of a mortgagor or investor shall be posted
within two business days to the mortgagor's or investor's records maintained by
the servicing entity.
<PAGE>

      3. Tax and insurance payments shall be made on or before the penalty or
insurance policy expiration dates, as indicated on tax bills and insurance
premium notices, respectively, provided that such support has been received by
the servicing entity at least thirty (30) calendar days prior to these dates.

      4. Any late payment penalties paid in conjunction with the payment of any
tax bill or insurance premium notice shall be paid from the servicing entity's
funds and not charged to the mortgagor, unless the late payment was due to the
mortgagor's error or omission.

      5. Amounts remitted to investors per the servicer's investor reports shall
agree with the canceled checks, or other form of payment, or custodial bank
statements.

      6. Unissued checks shall be safeguarded so as to prevent unauthorized
access.

IV. INVESTOR ACCOUNTING AND REPORTING

      1. The servicing entity's investor reports shall agree with, or reconcile
to, investors' records on a monthly basis as to the total unpaid principal
balance and number of loans serviced by the servicing entity.

V. MORTGAGOR LOAN ACCOUNTING

      1. The servicing entity's mortgage loan records shall agree with, or
reconcile to, the records of mortgagors with respect to the unpaid principal
balance on a monthly basis.

      2. Adjustments on ARM loans shall be computed based on the related
mortgage note and any ARM rider.

      3. Escrow accounts shall be analyzed, in accordance with the mortgagor's
loan documents, on at least an annual basis.

      4. Interest on escrow accounts shall be paid, or credited, to mortgagors
in accordance with the applicable state laws.

VI. DELINQUENCIES

      1. Records documenting collection efforts shall be maintained during the
period a loan is in default and shall be updated at least monthly. Such records
shall describe the entity's activities in monitoring delinquent loans including,
for example, phone calls, letters and mortgage payment rescheduling plans in
cases where the delinquency is deemed temporary (e.g., illness or unemployment).

VII. INSURANCE POLICIES

      1. A fidelity bond and errors and omissions policy shall be in effect on
the servicing entity throughout the reporting period in the amount of coverage
represented to investors in management assertion.


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