<PAGE>





                                    GMAC RFC

                       [GRAPHIC OMITTED][GRAPHIC OMITTED]

                          RFMS II SERIES 2002-HI3 TRUST

                             HOME LOAN-BACKED NOTES

                RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.

                                    DEPOSITOR

                         RESIDENTIAL FUNDING CORPORATION

                           SELLER AND MASTER SERVICER

  The  following  is a  preliminary  Term Sheet.  All terms and  statements  are
subject to change.



                              GMAC RFC Securities



                                 AS UNDERWRITER

Any  transactions  in the  certificates  will be  effected  through  Residential
Funding Securities Corporation.





                                  JUNE 4, 2002







-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner

<PAGE>






STATEMENT  REGARDING  ASSUMPTIONS AS TO SECURITIES,  PRICING ESTIMATES AND OTHER
INFORMATION

-------------------------------------------------------------------------------
The  information  herein  has  been  provided  solely  by  Residential   Funding
Securities  Corporation  ("RFSC")  based  on  information  with  respect  to the
mortgage  loans  provided by  Residential  Funding  Corporation  ("RFC") and its
affiliates. RFSC is a wholly owned subsidiary of RFC. Neither RFC nor any of its
affiliates  makes any  representation  as to the accuracy or completeness of the
information herein.

The information  herein is preliminary and supersedes any prior  information and
will be superseded by the  prospectus  supplement  and by any other  information
subsequently  filed with the  Securities  and Exchange  Commissions  (SEC).  All
assumptions  and  information in this report reflect RFSC's  judgment as of this
date and are subject to change.  All analyses  are based on certain  assumptions
noted  herein and  different  assumptions  could yield  substantially  different
results.  You are cautioned  that there is no  universally  accepted  method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.

Further, RFSC does not guarantee any results and there is no guarantee as to the
liquidity of the  instruments  involved in this analysis.  The decision to adopt
any strategy  remains your  responsibility.  RFSC (or any of its  affiliates) or
their  officers,   directors,  analysts  or  employees  may  have  positions  in
securities,  commodities or derivative instruments thereon referred to here, and
may,  as  principal  or  agent,  buy or sell  such  securities,  commodities  or
derivative instruments.

In  addition,  RFSC may make a market  in the  securities  referred  to  herein.
Neither the information nor the assumptions  reflected herein shall be construed
to be, or constitute,  an offer to sell or buy or a solicitation  of an offer to
sell or buy any  securities,  commodities  or derivative  instruments  mentioned
herein. No sale of any securities,  commodities or derivative instruments should
be consummated  without the purchaser first having received a prospectus and, if
required prospectus supplement.

Finally,  RFSC has not addressed the legal,  accounting and tax  implications of
the analysis  with respect to you,  and RFSC  strongly  urges you to seek advice
from your counsel, accountant and tax advisor.


-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner

<PAGE>







RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Preliminary Term Sheet (Page 1 of 5)
-------------------------------------------------------------------------------

                                  $375,000,000


ISSUER: Home Loan Trust 2002-HI3

DEPOSITOR: Residential Funding Mortgage Securities II, Inc.

SELLER: Residential Funding Corporation

CREDIT ENHANCER: Ambac Assurance Corporation ("Ambac")

UNDERWRITER:  Lead Manager:  Bear,  Stearns & Co. Inc.  Co-Manager:  Residential
     Funding Securities Corporation

MASTER SERVICER:  Residential  Funding  Corporation  (the  "Master  Servicer" or
     "RFC").

INITIAL SUBSERVICER:  HomeComings  Financial Network, Inc.  ("HomeComings"),  an
     affiliate of the Depositor.

INDENTURE TRUSTEE: JPMorgan Chase Bank

OWNER TRUSTEE: Wilmington Trust Company

THE  NOTES:  Home Loan Trust  2002-HI3 will issue 8 classes of Home  Loan-Backed
     Notes  (namely,  the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5,
     Class A-6, Class A-7 and Class A-IO Notes (the "Notes")).

CHARACTERISTICS OF THE NOTES (A), (B), (C), (D)


     ***  RFC  WILL  ALSO  ACCEPT  INDICATIONS  ON  CLASS  A-1  AS A  FIXED-RATE
     CERTIFICATE ***

<TABLE>
<CAPTION>

------------ ------------ ----------- -------- -------- --------- ---------- --------------
                ORIGINAL              AVG      PRINCIPALPRINCIPAL FINAL
OFFERED        PRINCIPAL               LIFE    LOCKOUT   WINDOW     SCH.        RATINGS
NOTES            BALANCE    COUPON    TO CALL  (MONTHS) (MONTHS)  MATURITY   (MOODY'S/S&P)
                                      (YEARS)                       DATE
------------ ------------ ----------- -------- -------- --------- ---------- --------------

<S>     <C>  <C>                       <C>       <C>      <C>     <C>  <C>
Class A-1    $79,919,000  Floating     0.90      0        19      3/25/09      Aaa / AAA
                             (i)
Class A-2     49,800,000    Fixed      2.00     18        11      7/25/11      Aaa / AAA
Class A-3     57,551,000    Fixed      3.00     28        15      11/25/13     Aaa / AAA
Class A-4     30,982,000    Fixed      4.00     42        11      12/25/14     Aaa / AAA
Class A-5     38,721,000    Fixed      5.00     52        16      2/25/16      Aaa / AAA
Class A-6     63,225,000    Fixed      7.00     67        37      8/25/19      Aaa / AAA
Class A-7     54,802,000  Fixed (e)    9.88     103       19      6/25/32      Aaa / AAA
Class A-IO           (f)     (g)      1.15      29        1       12/25/04     Aaa / AAA
                                        (h)
------------ ------------ ----------- -------- -------- --------- ---------- --------------
</TABLE>

NOTES:

(A)  100% Prepayment  Assumption:  2.0% CPR in month 1 of the Home Loans, and an
     additional  0.789474% per annum in each month thereafter until month 20. On
     and after month 20, 17.0% CPR.

(B)  Transaction priced to a 10% clean-up call.

(C)  100% P&I  guaranty  by Ambac (See  section  entitled  "Credit  Enhancement"
     herein.)

(D)  The principal balance of each Class of Notes is subject to a 5% variance.

(E)  If the 10% clean-up call is not exercised,  the Note Rate applicable to the
     Class A-7 Notes will increase by 0.50% on the second payment date after the
     first possible call date.

(F)  Class A-IO notional amount: $37,500,000

(G)  For payment  dates 1 to 12,  11.00% per annum;  for payment dates 13 to 24,
     10.00% per annum; for payment dates 25 to 30, 7.00% per annum.  Thereafter,
     0.00%.

(H)  Duration.

(I)  The lesser of (a) 1-month LIBOR + 0.__% per annum and (b) 8.00% per annum.


-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner



<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Preliminary Term Sheet (Page 2 of 5)
--------------------------------------------------------------------------------

THE  ASSETS  OF THE  TRUST:  The  assets  of the  Trust  will  include a pool of
     conventional,  closed-end,  second-lien,  fixed-rate  home loans (the "Home
     Loans"),   the  proceeds  of  which  will  be  used   primarily   for  debt
     consolidation  and/or home improvements.  The Home Loans will be secured by
     mortgages,  deeds of trust or other similar security  instruments.  Most of
     the Home Loans will have a combined loan-to-value ratio in excess of 100%.

STATISTICAL CUT-OFF DATE:           As of June 1, 2002.

CUT-OFF DATE:                       As of June 1, 2002.

CLOSING DATE:                       On or about June 26, 2002.

PAYMENT DATE: The 25th of each month (or the next business  day),  commencing on
     July 25, 2002.

DELAYDAYS: The Notes,  other than the Class A-1 Notes, will have a payment delay
     of 24 days. With respect to the Class A-1 Notes, 0 days.

NOTE RATE:  Interest  will accrue on all of the Notes,  other than the Class A-1
     Notes,  at a fixed rate  during the month prior to the month of the related
     Payment Date on a 30/360-day basis.

     The  coupon  on the  Class  A-1  Notes  will be equal to the  lesser of (a)
     1-month LIBOR + 0.__% per annum and (b) 8.00% per annum, payable monthly.

     With respect to any Payment  Date,  the Class A-1 Notes will be entitled to
     interest accrued from and including the preceding Payment Date (or from and
     including  the Closing Date in the case of the first  Payment  Date) to and
     including  the day prior to the then  current  Payment Date (the "Class A-1
     Accrual  Period")  at the Class A-1 Note  Rate on the  aggregate  principal
     balance of the Class A-1 Notes on an actual/360-day basis.

     The Note Rate  applicable  to the Class A-7 Notes will increase by 0.50% on
     the second Payment Date after the first possible Call Date.

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner


<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Preliminary Term Sheet (Page 3 of 5)
--------------------------------------------------------------------------------

PRINCIPAL: All payments of principal allocable to the Notes shall be paid to the
     Class A-1 Notes,  the Class A-2 Notes,  the Class A-3 Notes,  the Class A-4
     Notes, the Class A-5 Notes, the Class A-6 Notes and the Class A-7 Notes, in
     that order,  in each case,  until the  outstanding  note balance of each of
     these notes has been reduced to zero. The Class A-IO Notes are not entitled
     to payments of principal.

PRIORITY OF PAYMENTS:  On each Payment Date,  principal and interest collections
     will be  allocated  from the  payment  account  in the  following  order of
     priority:

(1)  To pay accrued interest due on the Notes;

(2)  To pay as  principal  on the Notes  (other than the Class A-IO  Notes),  an
     amount  equal to the  principal  collection  distribution  amount  for such
     Payment Date;

(3)  To pay as  principal  on the Notes  (other than the Class A-IO  Notes),  an
     amount equal to the liquidation loss  distribution  amount for such Payment
     Date;

(4)  To pay the Credit  Enhancer  the  premium for the  Policy,  any  previously
     unpaid premiums for the Policy with interest and any payments in connection
     with the limited reimbursement agreement;

(5)  To  reimburse  the Credit  Enhancer  for  certain  prior  draws made on the
     Policy, with interest;

(6)  To pay as  additional  principal  on the Notes  (other  than the Class A-IO
     Notes),   an  amount   (if  any)   necessary   to  bring   the   amount  of
     overcollateralization up to the required  overcollateralization  amount for
     such Payment Date;

(7)  To pay the Credit  Enhancer  any other  amounts  owed  under the  insurance
     agreement;  and (8) To pay any  remaining  amounts  to the  holders  of the
     Certificates.

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner



<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Preliminary Term Sheet (Page 4 of 5)
-------------------------------------------------------------------------------

CREDIT  ENHANCEMENT:  Credit  enhancement  with  respect  to the  Notes  will be
     provided by (1) Excess Spread, (2)  Overcollateralization and (3) the Ambac
     Insurance Policy.

     Excess Spread:  Because the mortgagors are expected to pay more interest on
     the home loans than is necessary  to pay interest on the notes,  along with
     fees and expenses of the trust each month, there may be excess interest. On
     each payment  date,  this excess  interest may be used to protect the notes
     against most types of losses by making an  additional  payment of principal
     up to the amount of the losses.

     Overcollateralization:     On    the    Closing    Date,     the    initial
     overcollateralization  amount  will be  equal  to  0.00%  of the  aggregate
     cut-off date pool balance.  Commencing  with the October 2002 Payment Date,
     excess  spread will be applied,  to the extent not needed to cover  current
     period losses, to make accelerated  payments of principal to the securities
     then entitled to receive  payments of principal,  until the aggregate  pool
     balance  exceeds the  aggregate  note balance by a specified  amount.  This
     excess  represents  overcollateralization.  Prior to the Stepdown Date, the
     "Required  Overcollateralization  Amount"  will be  equal  to  2.00% of the
     aggregate  cut-off date pool balance.  On or after the Stepdown  Date,  the
     Required Overcollateralization Amount will be permitted, subject to certain
     performance  triggers  being  satisfied,  to decrease to 4.00% of aggregate
     pool  balance  of the  Home  Loans,  subject  to a floor  of  0.50%  of the
     aggregate cut-off date pool balance.

     Ambac Insurance Policy: Ambac Assurance Corporation (the "Credit Enhancer")
     will unconditionally and irrevocably  guarantee:  (a) interest on the notes
     at the note rate, (b) the amount of any losses not covered by excess spread
     or overcollateralization,  and (c) the payment of principal on the Notes by
     no later  than the June 2032  Payment  Date.  The  Insurance  Policy is not
     revocable for any reason.

STEPDOWN DATE: The Stepdown Date is the Payment Date occurring on the later of:

(1)  the Payment Date in July 2005 (i.e., on the 37th Payment Date); and

(2)  the first Payment Date on which the aggregate pool balance is less than 50%
     of the aggregate cut-off date pool balance.


-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner


<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Preliminary Term Sheet (Page 5 of 5)
-------------------------------------------------------------------------------

MASTER SERVICING FEE: 0.08% per annum, payable monthly. The fees of the Trustees
     will be paid from the Master Servicing Fee.

SUBSERVICING FEE: 0.50% per annum, payable monthly.

ADVANCING:  There is no  required  advancing  of  delinquent  scheduled  monthly
     payments of principal or interest on the Home Loans by the Master Servicer,
     the Subservicer, the Trustees, the Credit Enhancer or any other entity.

OPTIONAL  REDEMPTION:  The Master  Servicer may, at its option,  effect an early
     redemption or  termination  of the Notes on the first Payment Date on which
     the  aggregate  pool  balance  declines  to less than 10% of the  aggregate
     cut-off date pool balance (the "Call Date").

FORM OF REGISTRATION:  Book-Entry form, same day funds through DTC,  Clearstream
     and Euroclear.

TAX  STATUS: For federal income tax purposes, the Notes will be characterized as
     indebtedness of the Issuer.

ERISAELIGIBILITY:  The Notes may be eligible  for  purchase by employee  benefit
     plans that are subject to ERISA.

SMMEATREATMENT:  The Notes will not constitute "mortgage related securities" for
     purposes of SMMEA.

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner


<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Notes   (Page 1 of 3)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>

CLASS A-1 (TO CALL / TO MATURITY)
-------------------------------------------------------------------------------------------------
<S>                                       <C>      <C>       <C>       <C>       <C>        <C>
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                        3.27      1.27      1.04       0.90      0.80       0.73

MODIFIED DURATION (YEARS)               3.10      1.24      1.02       0.88      0.79       0.71
FIRST PRINCIPAL PAYMENT              7/25/02   7/25/02   7/25/02    7/25/02   7/25/02    7/25/02
LAST PRINCIPAL PAYMENT               9/25/08  11/25/04   5/25/04    1/25/04  11/25/03    9/25/03
PRINCIPAL LOCKOUT (MONTHS)                 0         0         0          0         0          0
PRINCIPAL WINDOW (MONTHS)                 75        29        23         19        17         15
ILLUSTRATIVE YIELD @ PAR (30/360)      2.04%     2.04%     2.04%      2.04%     2.04%      2.04%
-------------------------------------------------------------------------------------------------

CLASS A-2 (TO CALL / TO MATURITY)
-------------------------------------------------------------------------------------------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                        7.60      3.11      2.41       2.00      1.74       1.55

MODIFIED DURATION (YEARS)               6.39      2.86      2.25       1.88      1.64       1.48
FIRST PRINCIPAL PAYMENT              9/25/08  11/25/04   5/25/04    1/25/04  11/25/03    9/25/03
LAST PRINCIPAL PAYMENT               4/25/11   4/25/06   6/25/05   11/25/04   7/25/04    4/25/04
PRINCIPAL LOCKOUT (MONTHS)                74        28        22         18        16         14
PRINCIPAL WINDOW (MONTHS)                 32        18        14         11         9          8
ILLUSTRATIVE YIELD @ PAR (30/360)      4.14%     4.09%     4.06%      4.04%     4.02%      4.00%
-------------------------------------------------------------------------------------------------

CLASS A-3 (TO CALL / TO MATURITY)
-------------------------------------------------------------------------------------------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                       10.01      4.82      3.69       3.00      2.54       2.22

MODIFIED DURATION (YEARS)               7.81      4.21      3.31       2.74      2.35       2.07
FIRST PRINCIPAL PAYMENT              4/25/11   4/25/06   6/25/05   11/25/04   7/25/04    4/25/04
LAST PRINCIPAL PAYMENT               8/25/13   4/25/08  12/25/06    1/25/06   7/25/05    2/25/05
PRINCIPAL LOCKOUT (MONTHS)               105        45        35         28        24         21
PRINCIPAL WINDOW (MONTHS)                 29        25        19         15        13         11
ILLUSTRATIVE YIELD @ PAR (30/360)      4.73%     4.69%     4.67%      4.65%     4.63%      4.61%
-------------------------------------------------------------------------------------------------

CLASS A-4 (TO CALL / TO MATURITY)
-------------------------------------------------------------------------------------------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                       11.74      6.42      4.94       4.00      3.36       2.90

MODIFIED DURATION (YEARS)               8.63      5.34      4.27       3.53      3.02       2.64
FIRST PRINCIPAL PAYMENT              8/25/13   4/25/08  12/25/06    1/25/06   7/25/05    2/25/05
LAST PRINCIPAL PAYMENT               9/25/14   7/25/09  11/25/07   11/25/06   2/25/06    8/25/05
PRINCIPAL LOCKOUT (MONTHS)               133        69        53         42        36         31
PRINCIPAL WINDOW (MONTHS)                 14        16        12         11         8          7
ILLUSTRATIVE YIELD @ PAR (30/360)      5.14%     5.11%     5.10%      5.08%     5.06%      5.05%
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner



<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Notes   (Page 2 of 3)
----------------------------------------------------------------------------------------------


CLASS A-5 (TO CALL / TO MATURITY)
-------------------------------------------------------------------------------------------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                       12.90      7.88      6.17       5.00      4.19       3.60

MODIFIED DURATION (YEARS)               9.08      6.27      5.12       4.28      3.66       3.19
FIRST PRINCIPAL PAYMENT              9/25/14   7/25/09  11/25/07   11/25/06   2/25/06    8/25/05
LAST PRINCIPAL PAYMENT              12/25/15   3/25/11   5/25/09    2/25/08   3/25/07    7/25/06
PRINCIPAL LOCKOUT (MONTHS)               146        84        64         52        43         37
PRINCIPAL WINDOW (MONTHS)                 16        21        19         16        14         12
ILLUSTRATIVE YIELD @ PAR (30/360)      5.42%     5.40%     5.39%      5.38%     5.36%      5.35%
-------------------------------------------------------------------------------------------------

CLASS A-6 (TO CALL / TO MATURITY)
-------------------------------------------------------------------------------------------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                       14.47     10.45      8.49       7.00      5.88       5.04

MODIFIED DURATION (YEARS)               9.46      7.57      6.48       5.57      4.83       4.24
FIRST PRINCIPAL PAYMENT             12/25/15   3/25/11   5/25/09    2/25/08   3/25/07    7/25/06
LAST PRINCIPAL PAYMENT               4/25/19  10/25/14  10/25/12    2/25/11  10/25/09   10/25/08
PRINCIPAL LOCKOUT (MONTHS)               161       104        82         67        56         48
PRINCIPAL WINDOW (MONTHS)                 41        44        42         37        32         28
ILLUSTRATIVE YIELD @ PAR (30/360)      5.97%     5.96%     5.95%      5.94%     5.93%      5.92%
-------------------------------------------------------------------------------------------------

CLASS A-7 (TO CALL)
-------------------------------------------------------------------------------------------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)
                                       19.07     13.36     11.63       9.88      8.42       7.27

MODIFIED DURATION (YEARS)              10.72      8.74      7.98       7.12      6.33       5.65
FIRST PRINCIPAL PAYMENT              4/25/19  10/25/14  10/25/12    2/25/11  10/25/09   10/25/08
LAST PRINCIPAL PAYMENT              12/25/21   1/25/16   5/25/14    8/25/12   2/25/11   12/25/09
PRINCIPAL LOCKOUT (MONTHS)               201       147       123        103        87         75
PRINCIPAL WINDOW (MONTHS)                 33        16        20         19        17         15
ILLUSTRATIVE YIELD @ PAR (30/360)      6.45%     6.44%     6.43%      6.43%     6.42%      6.41%
-------------------------------------------------------------------------------------------------

CLASS A-7 (TO MATURITY)
-------------------------------------------------------------------------------------------------
                                                                ------------
% OF PREPAYMENT ASSUMPTION                0%       50%       75%       100%      125%       150%
RAMP TO                                0.00%     8.50%    12.75%     17.00%    21.25%     25.50%
-------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)                                                  11.37
                                       20.84     15.05     13.09                 9.89       8.64

MODIFIED DURATION (YEARS)              11.18      9.34      8.57       7.80      7.07       6.40
FIRST PRINCIPAL PAYMENT              4/25/19  10/25/14  10/25/12    2/25/11  10/25/09   10/25/08
LAST PRINCIPAL PAYMENT              12/25/26   7/25/25   4/25/23    7/25/20  11/25/17    7/25/16
PRINCIPAL LOCKOUT (MONTHS)               201       147       123        103        87         75
PRINCIPAL WINDOW (MONTHS)                 93       130       127        114        98         94
ILLUSTRATIVE YIELD @ PAR (30/360)      6.47%     6.47%     6.47%      6.47%     6.48%      6.48%
-------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner



<PAGE>



RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Notes   (Page 3 of 3)
----------------------------------------------------------------------------------------------



CLASS A-IO (TO CALL)
---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------
CPR                                        50%       60%        70%       80%        90%      100%
---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------
AVERAGE LIFE (YEARS)                      2.50      2.50       2.50      2.50       2.50      2.50
MODIFIED DURATION (YEARS)                 1.15      1.15       1.15      1.15       1.15      1.15
FIRST PRINCIPAL PAYMENT               12/25/04  12/25/04   12/25/04  12/25/04   12/25/04  12/25/04
LAST PRINCIPAL PAYMENT                12/25/04  12/25/04   12/25/04  12/25/04   12/25/04  12/25/04
PRINCIPAL LOCKOUT (MONTHS)                  29        29         29        29         29        29
PRINCIPAL WINDOW (MONTHS)                    1         1          1         1          1         1
ILLUSTRATIVE YIELD @ 22.40969%
(30/360)                                 4.75%     4.75%      4.75%     4.75%      4.75%     4.75%
---------------------------------------------------------------------------------------------------

</TABLE>

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner


<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Collateral (Page 1 of 4)
--------------------------------------------------------------------------------

     THE INFORMATION  CONTAINED  HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
     THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.


--------------------------------------------------------------
  Current Principal Balance (as of 6/1/02)     $365,563,420
                 Loan Count                           8,943
      Average Current Principal Balance             $40,877
     Average Original Principal Balance             $41,122
     Range of Original Principal Balance         $10,000 to
                                                   $100,000
                           Up to $25,000.00           6.26%
                   $25,000.01 to $50,000.00          61.46%
                   $50,000.01 to $75,000.00          31.25%
                  $75,000.01 to $100,000.00           1.03%
--------------------------------------------------------------
  LOAN RATE
  Weighted Average                                  12.785%
  Range of Loan Rates                             6.000% to
                                                    19.080%
                                     6.000%           0.01%
                           8.001% to 9.000%           0.24%
                          9.001% to 10.000%           1.78%
                         10.001% to 11.000%           6.79%
                         11.001% to 12.000%          23.04%
                         12.001% to 13.000%          32.17%
                         13.001% to 14.000%          20.26%
                         14.001% to 15.000%           9.71%
                         15.001% to 16.000%           3.81%
                         16.001% to 17.000%           1.43%
                         17.001% to 18.000%           0.67%
                         18.001% to 19.000%           0.09%
                         19.001% to 20.000%           0.01%
--------------------------------------------------------------
        WA Original Term to Stated Maturity             204
                                   (months)
       WA Remaining Term to Stated Maturity             201
                                   (months)
                            Up to 60 months           0.35%
                           61 to 120 months           4.79%
                          121 to 180 months          68.86%
                          181 to 240 months           7.09%
                          241 to 300 months          18.87%
                          301 to 360 months           0.04%
--------------------------------------------------------------
--------------------------------------------------------------
  Balloon / Fully Amortizing                 0.38% / 99.62%
  First Lien / Second Lien                   0.06% / 99.94%
--------------------------------------------------------------

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner

<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Collateral (Page 2 of 4)
--------------------------------------------------------------------------------

     THE INFORMATION  CONTAINED  HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
     THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.

--------------------------------------------------------------------------------
                         40.001% to 45.000%          31.17%
                         45.001% to 50.000%          21.53%
                         50.001% to 55.000%           0.01%
--------------------------------------------------------------
                         35.001% to 40.000%          22.03%
--------------------------------------------------------------
  CREDIT SCORE
  Weighted Average                                      696
  Range of Credit Scores                         620 to 810
                620 to 639                            0.22%
                640 to 659                            7.30%
                660 to 679                           22.75%
                680 to 699                           26.18%
                700 to 719                           23.14%
                720 to 739                           12.68%
                740 to 759                            5.22%
                760 to 779                            2.01%
                780 to 799                            0.47%
       Greater than or equal to 800                   0.03%
--------------------------------------------------------------
--------------------------------------------------------------
  ORIGINAL CLTV
  Weighted Average                                  117.73%
                               Up to 40.00%           0.09%
                           40.01% to 50.00%           0.06%
                           50.01% to 60.00%           0.02%
                           60.01% to 70.00%           0.01%
                           70.01% to 80.00%           0.24%
                           80.01% to 90.00%           0.27%
                          90.01% to 100.00%           2.09%
                         100.01% to 105.00%           4.51%
                         105.01% to 110.00%           9.64%
                         110.01% to 115.00%          15.36%
                         115.01% to 120.00%          20.90%
                         120.01% to 125.00%          46.70%
                         125.01% to 130.00%           0.11%
--------------------------------------------------------------
           DEBT-TO-INCOME RATIO
             Weighted Average                        39.97%
                               Up to 5.000%           0.03%
                          5.001% to 10.000%           0.01%
                         10.001% to 15.000%           0.06%
                         15.001% to 20.000%           0.46%
                         20.001% to 25.000%           2.52%
                         25.001% to 30.000%           7.33%
                         30.001% to 35.000%          14.84%



-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner



<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Collateral (Page 3 of 4)
--------------------------------------------------------------------------------

     THE INFORMATION  CONTAINED  HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
     THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.


--------------------------------------------------------------
               JUNIOR RATIO
             Weighted Average                        28.11%
     Up to 5.000%                                     0.01%
     5.001% to 10.000%                                0.24%
  10.001% to 15.000%                                  3.72%
  15.001% to 20.000%                                 15.59%
  20.001% to 25.000%                                 23.55%
  25.001% to 30.000%                                 21.11%
  30.001% to 35.000%                                 14.96%
  35.001% to 40.000%                                 10.46%
  40.001% to 45.000%                                  5.16%
  45.001% to 50.000%                                  2.84%
  50.001% to 55.000%                                  1.29%
  55.001% to 60.000%                                  0.38%
  60.001% to 65.000%                                  0.19%
  65.001% to 70.000%                                  0.26%
  70.001% to 75.000%                                  0.12%
  Greater than or equal to 75.001%                    0.11%
--------------------------------------------------------------
              RESIDUAL INCOME
             Weighted Average                        $3,744
    $1,000.00 to $1,999.99                            5.05%
    $2,000.00 to $2,999.99                           26.34%
    $3,000.00 to $3,999.99                           35.18%
    $4,000.00 to $4,999.99                           18.01%
    $5,000.00 to $5,999.99                            8.09%
    Greater than or equal to $6,000.00                7.32%
--------------------------------------------------------------
               PROPERTY TYPE
  Single Family Residence                            88.82%
  PUD Detached                                        6.66%
  Condominium                                         1.98%
  PUD Attached                                        1.13%
  Townhouse                                           0.97%
  Multifamily (2 to 4 units)                          0.40%
  Manufactured Housing                                0.03%
--------------------------------------------------------------
--------------------------------------------------------------
              OCCUPANCY STATUS
  Owner Occupied                                    100.00%
--------------------------------------------------------------

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner


<PAGE>


RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
HOME LOAN TRUST 2002-HI3
Computational Materials: Information Relating to the Collateral (Page 4 of 4)
--------------------------------------------------------------------------------

     THE INFORMATION  CONTAINED  HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF
     THE COLLATERAL CONTAINED IN THE PROSPECTUS SUPPLEMENT.

--------------------------------------------------------------
  DOCUMENTATION
  Full Documentation                                 99.65%
  Reduced                                             0.35%
--------------------------------------------------------------
--------------------------------------------------------------
  LOAN PURPOSE
                         Debt Consolidation          84.75%
                                   Cash Out           7.70%
                        Rate/Term Refinance           3.80%
                                Convenience           2.20%
      Home Improvement / Debt Consolidation           1.00%
                           Home Improvement           0.22%
                                  Education           0.06%
                          Asset Acquisition           0.11%
                                      Other           0.17%
--------------------------------------------------------------
         PREPAYMENT PENALTY TERMS
 None                                                52.17%
   12 months                                          0.68%
  24 months                                           0.06%
  36 months                                          46.32%
  60 months                                           0.46%
  Other (not more than 60 months)                     0.31%
--------------------------------------------------------------
  GEOGRAPHIC CONCENTRATION (> 5%)                CA (7.54%)
  -------------------------------
                                                 FL (6.68%)
                                                 PA (5.92%)
                                                 OH (5.41%)
                                                 VA (5.25%)
                                                 MD (5.17%)
--------------------------------------------------------------
--------------------------------------------------------------

-------------------------------------------------------------------------------
This Information was prepared by Bear Stearns & Co. Inc. in its capacity as lead
underwriter.  This  information  should be  considered  only after  reading  the
Statement  Regarding  Assumptions as to Securities,  Pricing Estimates and Other
Information, which should be attached. Do not use or rely on this information if
you have not received and reviewed this Statement.  You may obtain a copy of the
Statement from your sales representative.

Worldwide Capital Partner


<PAGE>