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
>
FINANCIAL ASSET SECURITIES CORP.
(as Depositor, Litton Loan Servicing LP, as Servicer,
and Deutsche Bank National Trust Company, as trustee).
FINANCIAL ASSET SEC CORP ASSET BACKED CERTS SERIES 2002-1
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-84929-12 06-1442101
(Commission File Number) (I.R.S. Employer Identification No.)
>
600 Steamboat Road
Greenwich, Connecticut 92618
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (203) 625-2700
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements to the
Certificateholders which was derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 2002.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
>
behalf by the undersigned, hereunto duly authorized.
Deutsche Bank National Trust Company, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
>
pursuant to the Pooling and Servicing
Agreement, dated as of September 1, 2002.
Date: Dec 12, 2002 By: /s/ Katie Wannenmacher
Katie Wannenmacher
Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of November 25, 2002.
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
November 25, 2002 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Contents
> 1
2. Certificate Payment
> Report 2
3. Collection Account
>Report 4
4. Credit Enhancement
>Report 7
5. Collateral Report
> 8
6. Delinquency Report
> 11
7. REO Report
> 14
8. Foreclosure Report
> 15
9. Prepayment Report
> 16
10. Prepayment Detail R
>eport 19
11. Realized Loss Repor
>t 20
12. Realized Loss Detai
>l Report 23
13. Triggers, Adj. Rate
> Cert. and Miscellaneous Report 24
14. Additional Certific
>ate Report 25
Total Number of Pag
>es 25
CONTACTS
Administrator: Ba
>rbara A Rowe
Direct Phone Number
>: (714)247-6412
Address: Deutsche
> Bank
17
>61 E. St. Andrew Place, Santa Ana, CA 92705
Web Site: http://
>www.corporatetrust.db.com/invr
Factor Information:
> (800) 735-7777
Main Phone Number:
> (714) 247-6000
ISSUANCE INFORMATION
Seller: Financial Asset Securites Corp.
> Cut-Off Date: September 1
>, 2002
Certificate Insurer(s):
> Closing Date: September
>30, 2002
> First Payment Date: October 25, 200
>2
Servicer(s): Litton Loan Servicing Master
>Servicer
> Distribution Date: November 25,
> 2002
Underwriter(s): Greenwich Capital Markets, Inc.
> Record Date: November 2
>2, 2002
> Oc
>tober 31, 2002
> Page 1 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Series 2002-1
Certificate Payment Report for November 25, 2002 Distribution
Distribution in Dollars - Current Period
Prio
>r
> Current
Class Original Prin
>cipal Total Realized Deferred
> Principal
Class Type Face Value Bala
>nce Interest Principal Distribution Losses Interest
> Balance
(1)
> (2) (3) (4)=(2)+(3) (5) (6)
> (7)=(1)-(3)-(5)+(6)
A-1 FLT 40718000
>39828025.19 76137.91 446435.8 522573.71 0
> 0 39381589.39
A-2 FLT 136218000
>135587896.7 258031.3 1624960.19 1882991.49 0
> 0 133962936.5
M-1 MEZ 15740000
> 15740000 34969.03 0 34969.03 0
> 0 15740000
M-2 MEZ 12480000
> 12480000 33099.73 0 33099.73 0
> 0 12480000
M-3 MEZ 7490000
> 7490000 24702.44 0 24702.44 0
> 0 7490000
M-4 MEZ 2500000
> 2500000 8998.61 0 8998.61 0
> 0 2500000
C SUB 1954060.01
> 1953901.44 1074095.77 0 1074095.77 0
> 0 1953901.44
P EXE 100
> 100 47911.11 0 47911.11 0
> 0 100
R-2 R 0
> 0 0 0 0 0
> 0 0
Total 217100160
>215579923.3 1557945.9 2071395.99 3629341.89 0
> 0 213508527.3
Interest Accrual Detail Curr
>ent Period Factor Information per $1,000 of Original Face
> Orig. PrincipalPrior
> Current
Period Period
> (with Notional)Principal Total
> Principal
Class Starting Ending Method Cusi
>p Balance Balance Interest Principal Distribu
>tion Balance
> (1) (2) (3) (4)=(2)+
>(3) (5)
A-1 A-Act/360 3572
>9PAA8 40718000 978.1429636 1.869883344 10.96408959 12.8
>3397294 967.178874
A-2 37554 37584 A-Act/360 3572
>9PAB6 136218000 995.3743019 1.894252595 11.92911502 13.8
>2336762 983.4451869
M-1 37554 37584 A-Act/360 3572
>9PAC4 15740000 1000 2.221666455 0 2.22
>1666455 1000
M-2 37554 37584 A-Act/360 3572
>9PAD2 12480000 1000 2.652221955 0 2.65
>2221955 1000
M-3 37554 37584 A-Act/360 3572
>9PAE0 7490000 1000 3.298056075 0 3.29
>8056075 1000
M-4 37554 37584 A-Act/360 3572
>9PAF7 2500000 1000 3.599444 0 3
>.599444 1000
C A-30/360
> 219054220 993.0592741 4.903332928 0 4.90
>3332928 983.6031861
P -
> 100 1000 479111.1 0 4
>79111.1 1000
R-2 -
> 0 0 0 0
> 0 0
> Page 2 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Series 2002-1
Certificate Payment Report for November 25, 2002 Distribution
Distribution in Dollars - to Date
>
> Current
Original Unsc
>heduled Scheduled Total Total Realized Deferred
> Principal
Class Face Value Interest Prin
>cipal Principal Principal Distribution Losses Interest
> Balance
(1) (2) (3)
> (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8)
> (9)=(1)-(5)-(7)+(8)
A-1 40718000 138452
> 1274664.03 61746.5805 1336410.611 1474862.611 0
> 0 39381589.39
A-2 136218000 465550.91
> 2055515.75 199547.7795 2255063.53 2720614.44 0
> 0 133962936.5
M-1 15740000 62992.24
> 0 0 0 62992.24 0
> 0 15740000
M-2 12480000 59652.23
> 0 0 0 59652.23 0
> 0 12480000
M-3 7490000 44539.24
> 0 0 0 44539.24 0
> 0 7490000
M-4 2500000 16227.34
> 0 0 0 16227.34 0
> 0 2500000
C 1954060.01 2243336.24
> 158.57 0 158.57 2243494.81 0
> 0 1953901.44
P 100 68957.29
> 0 0 0 68957.29 0
> 0 100
R-2 0 0
> 0 0 0 0 0
> 0 0
Total 217100160 3099707.49
> 3330338.35 261294.36 3591632.71 6691340.2 0
> 0 213508527.3
Interest Detail
Pass- Prior Principal
> Non- Prior Unscheduled Paid or
> Current
Through (with Notional) Accr
>ued Supported Unpaid Interest Optimal Deferred
> Unpaid
Class Rate Balance Inte
>rest Interest SF Interest Adjustments Interest Interest
> Interest
(1)
> (2) (3) (4) (5)=(1)-(2)+(3)(6)
> (7)=(5)-(6)
A-1 0.0222 39828025.19
> 76137.91 0 0 0 76137.91 7
>6137.91 0
A-2 0.0221 135587896.7
> 258031.3 0 0 0 258031.3 2
>58031.3 0
M-1 0.0258 15740000
> 34969.03 0 0 0 34969.03 3
>4969.03 0
M-2 0.0308 12480000
> 33099.73 0 0 0 33099.73 3
>3099.73 0
M-3 0.0383 7490000
> 24702.44 0 0 0 24702.44 2
>4702.44 0
M-4 0.0418 2500000
> 8998.61 0 0 0 8998.61
>8998.61 0
C 0.059788263 217533824.7
> 1074095.77 0 0 0 1074095.77 107
>4095.77 0
P 100
> 47911.11 0 0 0 47911.11 4
>7911.11 0
R-2 0
> 0 0 0 0 0
> 0 0
Total 431159846.6
> 1557945.9 0 0 0 1557945.9 15
>57945.9 0
> Page 3 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Collection Account Report for November 25, 2002 Distribution
Collection Account Report
SUMMARY
> CONFORM. NON CONFORM. TOTAL
Principal Collections
> 1,624,960.19 446,435.80 2,071,395.99
Principal Withdrawals
> 0.00 0.00 0.00
Principal Other Accounts
> 0.00 0.00 0.00
TOTAL NET PRINCIPAL
> 1,624,960.19 446,435.80 2,071,395.99
Interest Collections
> 1,292,853.15 344,781.31 1,637,634.46
Interest Withdrawals
> 0.00 0.00 0.00
Interest Other Accounts
> 0.00 0.00 0.00
Interest Fees
> (61,773.11) (17,915.45) (79,688.56)
TOTAL NET INTEREST
> 1,231,080.04 326,865.86 1,557,945.90
TOTAL AVAILABLE FUNDS TO BONDHOLDERS
> 2,856,040.23 773,301.66 3,629,341.89
PRINCIPAL - COLLECTIONS
> CONFORM. NON CONFORM. TOTAL
Scheduled Principal
> 99,769.27 30,861.37 130,630.64
Curtailments
> 2,373.83 299.21 2,673.04
Prepayments in Full
> 1,522,817.09 415,275.22 1,938,092.31
Repurchases/Substitutions Shortfalls
> 0.00 0.00 0.00
Liquidations
> 0.00 0.00 0.00
Insurance Principal
> 0.00 0.00 0.00
Other Additional Principal
> 0.00 0.00 0.00
Delinquent Principal
> (10,952.09) (3,963.47) (14,915.56)
Advanced Principal
> 10,952.09 3,963.47 14,915.56
Realized Losses
> 0.00 0.00 0.00
TOTAL PRINCIPAL COLLECTED
> 1,624,960.19 446,435.80 2,071,395.99
Page 4 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Collection Account Report for November 25, 2002 Distribution
Collection Account Report
PRINCIPAL - WITHDRAWALS
> CONFORM. NON CONFORM. TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
> CONFORM. NON CONFORM. TOTAL
TOTAL OTHER ACCOUNTS PRINCIPAL
> 0.00 0.00 0.00
INTEREST - COLLECTIONS
> CONFORM. NON CONFORM. TOTAL
Scheduled Interest
> 1,253,935.07 347,721.19 1,601,656.26
Repurchases/Substitutions
> 0.00 0.00 0.00
Liquidations
> 0.00 0.00 0.00
Insurance Interest
> 0.00 0.00 0.00
Other Additional Interest
> 0.00 0.00 0.00
Month End Interest (PPIS)
> (3,798.04) (907.38) (4,705.42)
Delinquent Interest
> (176,265.56) (53,431.73) (229,697.29)
Realized Losses
> 0.00 0.00 0.00
Compensating Month End Interest
> 3,798.04 907.38 4,705.42
Other Interest Shortfall (Relief Act)
> 0.00 0.00 0.00
Interest Advanced
> 167,272.53 50,491.85 217,764.38
Prepayment Penalties
> 47,911.11 0.00 47,911.11
TOTAL INTEREST COLLECTED
> 1,292,853.15 344,781.31 1,637,634.46
Page 5 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Collection Account Report for November 25, 2002 Distribution
Collection Account Report
INTEREST - WITHDRAWALS
> CONFORM. NON CONFORM. TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - OTHER ACCOUNTS
> CONFORM. NON CONFORM. TOTAL
TOTAL OTHER ACCOUNT INTEREST
> 0.00 0.00 0.00
INTEREST - FEES
> CONFORM. NON CONFORM. TOTAL
Current Servicing Fees
> 60,385.54 17,506.52 77,892.06
Trustee Fee
> 1,387.57 408.93 1,796.50
TOTAL INTEREST OTHER FEES
> 61,773.11 17,915.45 79,688.56
Page 6 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Credit Enhancement Report for November 25, 2002 Distribution
Credit Enhancement Report
ACCOUNTS
> CONFORM. NON CONFORM. TOTAL
Net WAC Rate Carryover Reserve Fund Beginning Balance
> 1,000.00
Amount paid to maintain $1,000 balance
> 0.00
Net WAC Rate Carryover Amount
> 0.00
Net WAC Rate Carryover Reserve Fund Ending Balance
> 1,000.00
Int Earnings paid to Class C
> 0.00
INSURANCE
> CONFORM. NON CONFORM. TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
> CONFORM. NON CONFORM. TOTAL
Overcollateralization Target Amount
> 1,953,901.44
Overcollateralized Amount
> 1,953,901.44
Excess Overcollateralized Amount
> 0.00
Overcollateralization Release Amount
> 0.00 0.00 0.00
Overcollateralization Deficiency Amount
> 0.00
Extra Principal Distribution Amt
> 0.00 0.00 0.00
Page 7 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Collateral Report for November 25, 2002 Distribution
Collateral Report
COLLATERAL
> CONFORM. NON CONFORM. TOTAL
Loan Count:
Original
> 1215 131 1346
Prior
> 1209 129 1338
Prefunding
> 0 0 0
Scheduled Paid Offs
> 0 0 0
Full Voluntary Prepayments
> -10 -1 -11
Repurchases
> 0 0 0
Liquidations
> 0 0 0
Current
> 1199 128 1327
Principal Balance:
Original
> 167138749.6 49961410.43 217100160
Prior
> 166508580.5 49071342.78 215579923.3
Prefunding
> 0 0 0
Scheduled Principal
> -99769.27 -30861.37 -130630.64
Partial and Full Voluntary Prepayments
> -1525190.92 -415574.43 -1940765.35
Repurchases
> 0 0 0
Liquidations
> 0 0 0
Current
> 164883620.3 48624906.98 213508527.3
PREFUNDING
> CONFORM. NON CONFORM. TOTAL
SPACE INTENTIONALLY LEFT BLANK
Non Conform.
Conform.
Current Prin Balance by Groups (in millions of dollars) Tota
>l Current Principal Balance (in millions of dollars)
Page 8 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Collateral Report for November 25, 2002 Distribution
Collateral Report
CHARACTERISTICS
> CONFORM. NON CONFORM. TOTAL
Weighted Average Coupon Original
> 0.090388711 0.085032421 0.089156064
Weighted Average Coupon Prior
> 0.090388711 0.085032421 0.089156064
Weighted Average Coupon Current
> 0.090369041 0.085032405 0.08915429
Weighted Average Months to Maturity Original
> 353 355 353.4552497
Weighted Average Months to Maturity Prior
> 353 355 353.4552497
Weighted Average Months to Maturity Current
> 352 354 352.4554844
Weighted Avg Remaining Amortization Term Original
> 352.8211547 354.5648138 353.2180548
Weighted Avg Remaining Amortization Term Prior
> 352.8211547 354.5648138 353.2180548
Weighted Avg Remaining Amortization Term Current
> 351.796432 353.5443851 352.1945147
Weighted Average Seasoning Original
> 4.10422494 3.91586146 4.061348735
Weighted Average Seasoning Prior
> 4.10422494 3.91586146 4.061348735
Weighted Average Seasoning Current
> 5.10059699 4.92366617 5.060302371
Note: Original information refers to deal issue.
Non Conform.
Conform.
WAC by Groups Tota
>l WAC
WARAT by Groups Tota
>l WARAT
Note: Dates correspond to distribution dates.
Page 9 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Collateral Report for November 25, 2002 Distribution
Collateral Report
ARM CHARACTERISTICS
> CONFORM. NON CONFORM. TOTAL
Weighted Average Margin Original
> 0.05859709 0.05854688
Weighted Average Margin Prior
> 0.05859709 0.05854688
Weighted Average Margin Current
> 0.05859862 0.05834956
Weighted Average Max Rate Original
> 0.13545453 0.13083536
Weighted Average Max Rate Prior
> 0.13545453 0.13083536
Weighted Average Max Rate Current
> 0.13544551 0.13041472
Weighted Average Min Rate Original
> 0.07674991 0.07220473
Weighted Average Min Rate Prior
> 0.07674991 0.07220473
Weighted Average Min Rate Current
> 0.07673927 0.07198168
Weighted Average Cap Up Original
> 0.01257917 0.01256371
Weighted Average Cap Up Prior
> 0.01257917 0.01256371
Weighted Average Cap Up Current
> 0.01257951 0.01252137
Weighted Average Cap Down Original
> 0.01257917 0.01256371
Weighted Average Cap Down Prior
> 0.01257917 0.01256371
Weighted Average Cap Down Current
> 0.01257951 0.01252137
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES
> CONFORM. NON CONFORM. TOTAL
Current Servicing Fees
> 60,385.54 17,506.52 77,892.06
Delinquent Servicing Fees
> 8,993.03 2,939.88 11,932.91
TOTAL SERVICING FEES
> 69,378.57 20,446.40 89,824.97
Total Servicing Fees
> 69,378.57 20,446.40 89,824.97
Compensating Month End Interest
> 3,798.04 907.38 4,705.42
Delinquent Servicing Fees
> (8,993.03) (2,939.88) (11,932.91)
COLLECTED SERVICING FEES
> 64,183.58 18,413.90 82,597.48
Prepayment Interest Shortfall
> 3,798.04 907.38 4,705.42
Total Advanced Interest
> 167,272.53 50,491.85 217,764.38
ADDITIONAL COLLATERAL INFORMATION
> CONFORM. NON CONFORM. TOTAL
Next One-Month LIBOR
> 1.380000%
Current One-Month LIBOR
> 1.830000%
Page 10 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Delinquency Report for November 25, 2002 Distribution
Delinquency Report - Total
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 5346797.26 2214890.21 57481.06 7619168.53
% Balance
>0.025042547 0.010373779 0.000269221 0.035685547
# Loans
> 36 15 1 52
% # Loans
>0.027128862 0.011303693 0.00075358 0.039186134
FORECLOSURE Balance 0
> 0 190796.52 0 190796.52
% Balance 0
> 0 0.000893625 0 0.000893625
# Loans 0
> 0 1 0 1
% # Loans 0
> 0 0.00075358 0 0.00075358
BANKRUPTCY Balance 0
> 398520.05 0 0 398520.05
% Balance 0
> 0.00186653 0 0 0.00186653
# Loans 0
> 1 0 0 1
% # Loans 0
> 0.00075358 0 0 0.00075358
REO Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
TOTAL Balance 0
> 5745317.31 2405686.73 57481.06 8208485.1
% Balance 0
>0.026909077 0.011267404 0.000269221 0.038445701
# Loans 0
> 37 16 1 54
% # Loans 0
>0.027882442 0.012057272 0.00075358 0.040693293
Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Pay
>ments = 90+
> 6 Months Moving Average
1 or 2 Payments Delinquent 3 or
> More Payments Delinquent
Total Foreclosure Tota
>l Bankruptcy and REO
Note: Dates correspond to distribution dates.
Page 11 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Delinquency Report for November 25, 2002 Distribution
Delinquency Report - Non Conform. Group
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 928421.73 642020.86 0 1570442.59
% Balance
>0.019093543 0.013203539 0 0.032297082
# Loans
> 2 2 0 4
% # Loans
> 0.015625 0.015625 0 0.03125
FORECLOSURE Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
BANKRUPTCY Balance 0
> 398520.05 0 0 398520.05
% Balance 0
>0.008195801 0 0 0.008195801
# Loans 0
> 1 0 0 1
% # Loans 0
> 0.0078125 0 0 0.0078125
REO Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
TOTAL Balance 0
> 1326941.78 642020.86 0 1968962.64
% Balance 0
>0.027289343 0.013203539 0 0.040492882
# Loans 0
> 3 2 0 5
% # Loans 0
> 0.0234375 0.015625 0 0.0390625
Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Pay
>ments = 90+
> 6 Months Moving Average
1 or 2 Payments Delinquent 3 or
> More Payments Delinquent
Total Foreclosure Tota
>l Bankruptcy and REO
Note: Dates correspond to distribution dates.
Page 12 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Delinquency Report for November 25, 2002 Distribution
Delinquency Report - Conform. Group
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 4418375.53 1572869.35 57481.06 6048725.94
% Balance
>0.026796934 0.00953927 0.000348616 0.03668482
# Loans
> 34 13 1 48
% # Loans
>0.028356964 0.010842369 0.000834028 0.040033361
FORECLOSURE Balance 0
> 0 190796.52 0 190796.52
% Balance 0
> 0 0.001157159 0 0.001157159
# Loans 0
> 0 1 0 1
% # Loans 0
> 0 0.000834028 0 0.000834028
BANKRUPTCY Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
REO Balance 0
> 0 0 0 0
% Balance 0
> 0 0 0 0
# Loans 0
> 0 0 0 0
% # Loans 0
> 0 0 0 0
TOTAL Balance 0
> 4418375.53 1763665.87 57481.06 6239522.46
% Balance 0
>0.026796934 0.010696429 0.000348616 0.037841979
# Loans 0
> 34 14 1 49
% # Loans 0
>0.028356964 0.011676397 0.000834028 0.040867389
Note: Current = 0-29days, 1 Payment =30-59days, 2 Payments = 60-89days, 3+ Pay
>ments = 90+
> 6 Months Moving Average
1 or 2 Payments Delinquent 3 or
> More Payments Delinquent
Total Foreclosure Tota
>l Bankruptcy and REO
Note: Dates correspond to distribution dates.
Page 13 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
REO Report for November 25, 2002 Distribution
REO Report - Mortgage Loans that Become REO During Current Dis
>tribution
SUMMARY LOAN GROUP
Total Loan Count = 0 Loan Group 1
>= Non Conform. Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00 Loan Group 2
> = Conform. Group; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00
REO Book Value reported corresponds to total REO loans, including loans that be
>come REO during current distribution.
Loan Number Original Stated Curr
>ent State &
& Principal Principal Paid to Note
> LTV at Original Origination
Loan Group Balance Balance Date Rate
> Origination Term Date
SPACE INTENTIONALLY LEFT BLANK
Page 14 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Foreclosure Report for November 25, 2002 Distribution
Foreclosure Report - Mortgage Loans that Become Foreclosure Du
>ring Current Distribution
SUMMARY LOAN GROUP
Total Loan Count = 1 Loan Group 1
>= Non Conform. Group
Total Original Principal Balance = 191,250.00 Loan Group 2
> = Conform. Group
Total Current Balance = 190,796.52
Loan Number Original Stated Curr
>ent State &
& Principal Principal Paid to Note
> LTV at Original Origination
Loan Group Balance Balance Date Rate
> Origination Term Date
10827988 2 191250 190796.52 37469
> 0.0975CA - 85.00% 360 37391
Page 15 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Prepayment Report for November 25, 2002 Distribution
Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS
> CONFORM. NON CONFORM. TOTAL
Current
Number of Paid in Full Loans
> 10 1 11
Number of Repurchased Loans
> 0 0 0
Total Number of Loans Prepaid in Full
> 10 1 11
Paid in Full Balance
> 1522817.09 415275.22 1938092.31
Repurchased Loans Balance
> 0 0 0
Curtailments Amount
> 2373.83 299.21 2673.04
Total Prepayment Amount
> 1525190.92 415574.43 1940765.35
Cumulative
Number of Paid in Full Loans
> 16 3 19
Number of Repurchased Loans
> 0 0 0
Total Number of Loans Prepaid in Full
> 16 3 19
Paid in Full Balance
> 2048618.79 1273504.66 3322123.45
Repurchased Loans Balance
> 0 0 0
Curtailments Amount
> 6962.69 1252.21 8214.9
Total Prepayment Amount
> 2055581.48 1274756.87 3330338.35
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars) Tota
>l Prepayments (in thousands of dollars)
Page 16 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Prepayment Report for November 25, 2002 Distribution
Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES
> CONFORM. NON CONFORM. TOTAL
SMM
> 0.009165325 0.00847411 0.009007991
3 Months Avg SMM
12 Months Avg SMM
Avg SMM Since Cut-off
> 0.006174801 0.012850492 0.007707081
CPR
> 0.104605635 0.097081182 0.102897992
3 Months Avg CPR
12 Months Avg CPR
Avg CPR Since Cut-off
> 0.071632235 0.143760619 0.088663618
PSA
> 10.25425405 9.858627543 10.16717824
3 Months Avg PSA Approximation
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation
> 7.782033764 16.26338254 9.720128226
Non Conform.
Conform.
CPR by Groups Tota
>l CPR
PSA by Groups Tota
>l PSA
Page 17 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Prepayment Report for November 25, 2002 Distribution
Prepayment Report - Voluntary Prepayments
Non Conform.
Conform.
CPR Avg since Cut-Off by Groups Tota
>l CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups Tota
>l PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full p
>repayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn
>,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (Avg
>CPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and
>mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,W
>ASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and
> include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
Page 18 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Prepayment Detail Report for November 25, 2002 Distribution
Prepayment Detail Report - Loans Prepaid in Full During Curren
>t Distribution
SUMMARY
> LOAN GROUP
Total Loan Count = 11
> Loan Group 1 = Non Conform. Group
Total Original Principal Balance = 1,942,290.00
> Loan Group 2 = Conform. Group
Total Prepayment Amount = 1,938,092.31
Loan Number Original
> Current State & Type Prepayment
& Loan Principal Prepayment Prep
>ayment Note LTV at & Origination
Loan Group Status Balance Amount Date
> Rate Origination Original Term Date
10831690 1 416000 415275.22
> 37551 0.0874FL - 80.00% Paid Off - 36 37414
10822400 2 79140 79025.28
> 37558 0.1099MA - 60.88% Paid Off - 36 37375
10822715 2 68000 67833.61
> 37530 0.096CA - 80.00% Paid Off - 36 37372
10823986 2 136000 135755.77
> 37547 0.0999CA - 85.00% Paid Off - 36 37397
10824422 2 82500 82317.28
> 37544 0.0899CO - 47.14% Paid Off - 36 37379
10824984 2 279000 278414.7
> 37554 0.0925CO - 90.00% Paid Off - 36 37376
10827830 2 103000 102720.25
> 37554 0.091CA - 64.38% Paid Off - 36 37349
10828861 2 105000 104857.73
> 37557 0.113WA - 51.22% Paid Off - 36 37400
10829398 2 293250 292079.33
> 37540 0.089MA - 85.00% Paid Off - 36 37306
10830982 2 90400 90255.94
> 37553 0.1055FL - 80.00% Paid Off - 36 37396
10834603 2 290000 289557.2
> 37559 0.09375CA - 80.00% Paid Off - 36 37424
Page
> 19 of 25 COPYRIGHT 2002 Deutsc
>he Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Realized Loss Report for November 25, 2002 Distribution
Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES
> CONFORM. NON CONFORM. TOTAL
Current
Number of Loans Liquidated
> 0 0 0
Collateral Realized Loss/(Gain) Amount
> 0 0 0
Net Liquidation Proceeds
> 0 0 0
Cumulative
Number of Loans Liquidated
> 0 0 0
Collateral Realized Loss/(Gain) Amount
> 0 0 0
Net Liquidation Proceeds
> 0 0 0
Note: Collateral realized losses may include adjustments to loan
>s liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
Non Conform.
> 3 Months Moving Average
Conform.
Collateral Loss Severity Approximation by Groups Coll
>ateral Loss Severity Approximation
Page 20 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Realized Loss Report for November 25, 2002 Distribution
Realized Loss Report - Collateral
DEFAULT SPEEDS
> CONFORM. NON CONFORM. TOTAL
MDR
> 0 0 0
3 Months Avg MDR
12 Months Avg MDR
Avg MDR Since Cut-off
> 0 0 0
CDR
> 0 0 0
3 Months Avg CDR
12 Months Avg CDR
Avg CDR Since Cut-off
> 0 0 0
SDA
> 0 0 0
3 Months Avg SDA Approximation
12 Months Avg SDA Approximation
Avg SDA Since Cut-off Approximation
> 0 0 0
Loss Severity Approximation for Current Period
3 Months Avg Loss Severity Approximation
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off
Non Conform.
Conform.
CDR by Groups Tota
>l CDR
SDA by Groups Tota
>l SDA
Page 21 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Realized Loss Report for November 25, 2002 Distribution
Realized Loss Report - Collateral
Non Conform.
Conform.
CDR Avg since Cut-Off by Groups Tota
>l CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups Tota
>l SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquida
>ted Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.
>02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn
>,m): [(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (Avg
>CDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and
>mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX
>(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of mo
>nths in the period n,m)
Loss Severity Approximation for current period: sum(Realized Los
>s Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth mont
>h and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and in
>clude realized gains and additional realized losses and gains from prior period
>s.
Dates correspond to distribution dates.
Page 22 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Realized Loss Detail Report for November 25, 2002 Distribution
Realized Loss Detail Report - Loans Liquidated During Current
>Distribution
SUMMARY
> LOAN GROUP
Total Loan Count = 0
> Loan Group 1 = Non Conform. Group
Total Original Principal Balance = 0.00
> Loan Group 2 = Conform. Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Loan Number Original Prior
> Current State &
& Loan Principal Principal Real
>ized Note LTV at Original Origination
Loan Group Status Balance Balance Loss
>/(Gain) Rate Origination Term Date
SPACE INTENTIONALLY LEFT BLANK
Page
> 23 of 25 COPYRIGHT 2002 Deutsc
>he Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Triggers, Adj. Rate Cert. and Miscellaneous Report for November
>25, 2002 Distribution
Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS
> CONFORM. NON CONFORM. TOTAL
Step Down Date?
> No
Trigger Event Occuring?
> No
Delinquency Percentage
> 1.340315%
Beginning Credit Enhancement Percentage
> 18.630632%
Ending Credit Enhancement Percentage
> 18.811380%
ADJUSTABLE RATE CERTIFICATE INFORMATION
> CONFORM. NON CONFORM. TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
> CONFORM. NON CONFORM. TOTAL
SPACE INTENTIONALLY LEFT BLANK
Page 24 of 25
> COPYRIGHT 2002 Deutsche Bank
Fremont Home Loan Trust 2002-1
Asset Backed Certificates
Additional Certificate Report for November 25, 2002 Distribution
>
Additional Certificate Report
CLASS
> Net WAC Rate CaUnpaid RealizedInterest Carry Forward Amt
A-1
> 0.00 0.00 0.00
A-2
> 0.00 0.00 0.00
M-1
> 0.00 0.00 0.00
M-2
> 0.00 0.00 0.00
M-3
> 0.00 0.00 0.00
M-4
> 0.00 0.00 0.00
C
> 0.00 0.00 0.00
P
> 0.00 0.00 0.00
Page 25 of 25
> COPYRIGHT 2002 Deutsche Bank