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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 25, 2002
AMERIQUEST MORTGAGE SECURITIES INC.
(as depositor under the Pooling and Servicing Agreement,
dated as of October 1, 2002, providing for the issuance of
Asset-Backed Pass-Through Certificates, Series 2002-C)
Ameriquest Mortgage Securities Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 333-99117 33-0885129
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
1100 Town & Country Road, Suite 1100
Orange, California 92868
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (714) 564-0660
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Item 2. Acquisition or Disposition of Assets
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On October 7, 2002, a a series of certificates, entitled Ameriquest
Mortgage Securities Inc. Asset-Backed Pass-Through Certificates, Series 2002-C
(the "Certificates"), were issued pursuant to a pooling and servicing agreement,
dated as of October 1, 2002 (the "Agreement"), among Ameriquest Mortgage
Securities Inc. as depositor (the "Depositor"), Ameriquest Mortgage Company
("Ameriquest") as master servicer (the "Master Servicer"), Deutsche Bank
National Trust Company as trustee (the "Trustee") and Federal Home Loan Mortgage
Corporation ("Freddie Mac") as guarantor of the Class A Certificates and the
Class S Certificates.
On October 23, 2002 and November 15, 2002 following the closing of the
initial issuance of the Certificates, the Trustee purchased from the Depositor
certain Subsequent Mortgage Loans, as defined in the Agreement, with an
aggregate principal balance equal to approximately $324,984,887.57 with funds on
deposit in the pre-funding account (the "Pre-Funding Account") established
pursuant to the Agreement at a purchase price equal to the principal balance
thereof, which Subsequent Mortgage Loans were conveyed to the Trustee pursuant
to (i) a Subsequent Transfer Instrument, dated October 23, 2002, between the
Depositor and the Trustee and (ii) a Subsequent Transfer Instrument, dated
November 15, 2002, between the Depositor and the Trustee (collectively, the
"Instrument"). Attached to the Instrument is the Mortgage Loan Schedule listing
the Subsequent Mortgage Loans that are the subject of such Instrument.
Item 5. Other Events
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Description of the Mortgage Pool
The Certificates, issued pursuant to the Agreement, evidence in the
aggregate the entire beneficial ownership interest in a trust fund (the "Trust
Fund"), consisting primarily of a segregated pool (the "Mortgage Pool") of
conventional, one- to four- family, first lien adjustable-rate and fixed- rate
mortgage loans having original terms to maturity of not greater than 30 years
(the "Mortgage Loans"). As of the Closing Date, the Trust Fund primarily
consisted of (i) the Mortgage Pool, which consisted of Mortgage Loans having an
aggregate principal balance of approximately $975,003,335 as of October 1, 2002
and (ii) the Pre-Funding Account, which contained approximately $324,996,666.
As more fully described above, on October 23, 2002 and November 15,
2002, the Depositor purchased the Subsequent Mortgage Loans with the funds on
deposit in the Pre-Funding Account.
The tables attached as an exhibit hereto describe certain
characteristics of the Mortgage Pool as of the respective applicable Cut-off
Date.
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Item 7. Financial Statements and Exhibits
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(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit No. Description
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4.2 Subsequent Transfer Instrument,
dated as of October 23, 2002 and
November 15, 2002, between
Ameriquest Mortgage Securities Inc.
as seller and Deutsche Bank National
Trust Company, as trustee.
99.1 Characteristics of the Mortgage Pool
as of the respective applicable
Cut-off Date, relating to Ameriquest
Mortgage Securities Inc.,
Asset-Backed Pass-Through
Certificates, Series 2002-C.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf the
undersigned thereunto duly authorized.
Dated: November 25, 2002
AMERIQUEST MORTGAGE SECURITIES
INC.
By: /s/ John P. Grazer
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Name: John P. Grazer
Title: CFO
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Index to Exhibits
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Sequentially
Exhibit No. Description Numbered Page
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4.2 Subsequent Transfer Instrument
99.1 Characteristics of the Mortgage Pool as of the
respective applicable Cut-off Date, relating to
Ameriquest Mortgage Securities Inc., Asset-
Backed Pass-Through Certificates, Series 2002-C