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): December 26, 2002
>
AMERIQUEST MORTGAGE SECURITIES INC.
(as depositor, Ameriquest Mortgage Company, in its capacity as
Originator and Master Servicer, and Deutsche Bank National
Trust Company, as Trustee).
AMERIQUEST MORT SEC INC ASSET BK PASS THR CERT SER 2002-C
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-77012-05 33-0885129
(Commission File Number) (I.R.S. Employer Identification No.)
>
1100 TOWN & COUNTRY ROAD, SUITE 1100
ORANGE, CALIFORNIA 92868
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (714) 564-0660
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
December 26, 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,
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 October 1, 2002.
Date: Jan 02, 2003 By: /s/ Katherine M. Wannenmacher
>
Katherine M. Wannenmacher
Vice President
EXHIBIT INDEX
DOCUMENT
Monthly Remittance Statement to the Certificateholders
dated as of December 26, 2002.
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
December 26, 2002 Distribution
Contents
TABLE OF CONTENTS
> Page
1. Contents
> 1
2. Certificate Payment
> Report 2
3. Collection Account
>Report 10
4. Credit Enhancement
>Report 13
5. Collateral Report
> 14
6. Delinquency Report
> 17
7. REO Report
> 20
8. Foreclosure Report
> 21
9. Prepayment Report
> 22
10. Prepayment Detail R
>eport 25
11. Realized Loss Repor
>t 28
12. Realized Loss Detai
>l Report 31
13. Triggers, Adj. Rate
> Cert. and Miscellaneous Report 32
Total Number of Pag
>es 32
CONTACTS
Administrator: Va
>lerie M Delgado
Direct Phone Number
>: (714)247-6273
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: Ameriquest Mtg Sec Inc
> Cut-Off Date: October 1,
>2002
Certificate Insurer(s):
> Closing Date: October 7,
> 2002
> First Payment Date: November 25, 20
>02
Servicer(s): Ameriquest Mortgage Corp Mast
>er Servicer
> Distribution Date: December 26,
> 2002
Underwriter(s): Banc of America Securities LLC
> Underwriter Record Date: December 2
>4, 2002
> No
>vember 29, 2002
> Page 1 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC I
Certificate Payment Report for December 26, 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)
Remic 1 1300000000
> 1291956820 8972819.6 21476989.31 30449808.91 155.45
> 0 1270479675
Total 1300000000
> 1291956820 8972819.6 21476989.31 30449808.91 155.45
> 0 1270479675
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)
Remic 1 37561 37589 -
> 1300000000 993.8129382 6.902168923 16.52076101 23.4
>2292993 977.2920576
> Page 2 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC I
Certificate Payment Report for December 26, 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)
Remic 1 1300000000 17723095.85
> 0 29520169.7 29520169.7 47243265.55 155.45
> 0 1270479675
Total 1300000000 17723095.85
> 0 29520169.7 29520169.7 47243265.55 155.45
> 0 1270479675
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)
Remic 1 0.081932614 1291956820
> 8972819.6 0 0 0 8972819.6 89
>72819.6 0
Total 1291956820
> 8972819.6 0 0 0 8972819.6 89
>72819.6 0
> Page 3 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC II
Certificate Payment Report for December 26, 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)
Remic 2 1300000000
> 1291956820 8972819.6 21476989.31 30449808.91 155.45
> 0 1270479675
Total 1300000000
> 1291956820 8972819.6 21476989.31 30449808.91 155.45
> 0 1270479675
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)
Remic 2 37561 37589 -
> 1300000000 993.8129382 6.902168923 16.52076101 23.4
>2292993 977.2920576
> Page 4 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC II
Certificate Payment Report for December 26, 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)
Remic 2 1300000000 17723095.85
> 0 29520169.7 29520169.7 47243265.55 155.45
> 0 1270479675
Total 1300000000 17723095.85
> 0 29520169.7 29520169.7 47243265.55 155.45
> 0 1270479675
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)
Remic 2 0.081932614 1291956820
> 8972819.6 0 0 0 8972819.6 89
>72819.6 0
Total 1291956820
> 8972819.6 0 0 0 8972819.6 89
>72819.6 0
> Page 5 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC III
Certificate Payment Report for December 26, 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)
Remic 3 1300000000
> 1291956819 8972818.046 21476990.86 30449808.91 155.45
> 0 1270479672
Total 1300000000
> 1291956819 8972818.046 21476990.86 30449808.91 155.45
> 0 1270479672
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)
Remic 3 37561 37589 -
> 1300000000 993.8129374 6.902167727 16.5207622 23.4
>2292993 977.2920556
> Page 6 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC III
Certificate Payment Report for December 26, 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)
Remic 3 1300000000 17723093.3
> 0 29520172.25 29520172.25 47243265.55 155.45
> 0 1270479672
Total 1300000000 17723093.3
> 0 29520172.25 29520172.25 47243265.55 155.45
> 0 1270479672
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)
Remic 3 0.081932614 1291956819
>8972818.046 0 0 0 8972818.046 8972
>818.046 0
Total 1291956819
>8972818.046 0 0 0 8972818.046 8972
>818.046 0
> Page 7 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC IV
Certificate Payment Report for December 26, 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)
AF-1 99174000
>97730111.85 209305.32 4350905.14 4560210.46 0
> 0 93379206.71
AF-2 36998000
> 36998000 91570.05 0 91570.05 0
> 0 36998000
AF-3 62679000
> 62679000 178112.83 0 178112.83 0
> 0 62679000
AF-4 55274000
> 55274000 191616.53 0 191616.53 0
> 0 55274000
AF-5 46126000
> 46126000 190269.75 0 190269.75 0
> 0 46126000
AF-6 35365000
> 35365000 130850.5 0 130850.5 0
> 0 35365000
AV 898084000
>891484607.8 1174530.97 17126239.62 18300770.59 0
> 0 874358368.1
M-1 39000000
> 39000000 121907.5 0 121907.5 0
> 0 39000000
M-2 16900000
> 16900000 54281.86 0 54281.86 0
> 0 16900000
S 0
> 0 595833.33 0 595833.33 0
> 0 0
CE 10399900
> 10400000 5492172.932 0 5492172.932 0
> 0 10400000
P 100
> 100 149982.12 0 149982.12 0
> 0 100
R-3 0
> 0 0 0 0 0
> 0 0
Total 1300000000
> 1291956820 8580433.692 21477144.76 30057578.45 0
> 0 1270479675
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)
AF-1 37561 37589 F-30/360 3139
>2VXE7 99174000 985.44086 2.110485813 43.87142941 45.9
>8191522 941.5694306
AF-2 37561 37589 F-30/360 3139
>2VXF4 36998000 1000 2.475 0
> 2.475 1000
AF-3 37561 37589 F-30/360 3139
>2VXG2 62679000 1000 2.841666746 0 2.84
>1666746 1000
AF-4 37561 37589 F-30/360 3139
>2VX98 55274000 1000 3.466666606 0 3.46
>6666606 1000
AF-5 37561 37589 F-30/360 3139
>2VXA5 46126000 1000 4.125 0
> 4.125 1000
AF-6 37561 37589 F-30/360 3139
>2VXB3 35365000 1000 3.7 0
> 3.7 1000
AV 37585 37615 A-Act/360 3139
>2VXD9 898084000 992.6516982 1.307818612 19.06975252 20.3
>7757113 973.5819457
M-1 37585 37615 A-Act/360 0307
>2SDF9 39000000 1000 3.125833333 0 3.12
>5833333 1000
M-2 37585 37615 A-Act/360 0307
>2SDG7 16900000 1000 3.211944379 0 3.21
>1944379 1000
S 37561 37589 F-30/360 3139
>2VXC1 130000000 1000 4.583333308 0 4.58
>3333308 1000
CE 37585 37589 A-30/360
> 10399900 1000.009615 528.098629 0 528
>.098629 1000.009615
P -
> 100 1000 1499821.2 0 14
>99821.2 1000
R-3 -
> 0 0 0 0
> 0 0
> Page 8 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REMIC IV
Certificate Payment Report for December 26, 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)
AF-1 99174000 421702.97
> 5462126.99 332666.3 5794793.29 6216496.26 0
> 0 93379206.71
AF-2 36998000 183140.1
> 0 0 0 183140.1 0
> 0 36998000
AF-3 62679000 356225.66
> 0 0 0 356225.66 0
> 0 62679000
AF-4 55274000 383233.06
> 0 0 0 383233.06 0
> 0 55274000
AF-5 46126000 380539.5
> 0 0 0 380539.5 0
> 0 46126000
AF-6 35365000 261701
> 0 0 0 261701 0
> 0 35365000
AV 898084000 3558195.59
>22321227.97 1404403.89 23725631.86 27283827.45 0
> 0 874358368.1
M-1 39000000 336895
> 0 0 0 336895 0
> 0 39000000
M-2 16900000 149743.39
> 0 0 0 149743.39 0
> 0 16900000
S 0 1191666.66
> 0 0 0 1191666.66 0
> 0 0
CE 10399900 9238763.521
> 0 0 0 9238763.521 0
> 100 10400000
P 100 245765.13
> 0 0 0 245765.13 0
> 0 100
R-3 0 0
> 0 0 0 0 0
> 0 0
Total 1300000000 16707571.58
>27783354.96 1737070.19 29520425.15 46227996.73 0
> 100 1270479675
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)
AF-1 0.0257 97730111.85
> 209305.32 0 0 0 209305.32 20
>9305.32 0
AF-2 0.0297 36998000
> 91570.05 0 0 0 91570.05 9
>1570.05 0
AF-3 0.0341 62679000
> 178112.83 0 0 0 178112.83 17
>8112.83 0
AF-4 0.0416 55274000
> 191616.53 0 0 0 191616.53 19
>1616.53 0
AF-5 0.0495 46126000
> 190269.75 0 0 0 190269.75 19
>0269.75 0
AF-6 0.0444 35365000
> 130850.5 0 0 0 130850.5 1
>30850.5 0
AV 0.0153 891484607.8
> 1174530.97 0 0 0 1174530.97 117
>4530.97 0
M-1 0.0363 39000000
> 121907.5 0 0 0 121907.5 1
>21907.5 0
M-2 0.0373 16900000
> 54281.86 0 0 0 54281.86 5
>4281.86 0
S 0.055 130000000
> 595833.33 0 0 0 595833.33 59
>5833.33 0
CE 0.05101 10400000
>5492172.932 0 0 0 5492172.932 5492
>172.932 0
P 100
> 149982.12 0 0 0 149982.12 14
>9982.12 0
R-3 0
> 0 0 0 0 0
> 0 0
Total 1421956820
>8580433.692 0 0 0 8580433.692 8580
>433.692 0
> Page 9 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Collection Account Report for December 26, 2002 Distribution
Collection Account Report
SUMMARY
> GROUP 2 GROUP 1 TOTAL
Principal Collections
> 17,126,115.66 4,350,466.13 21,476,581.79
Principal Other Accounts
> 0.00 407.52 407.52
TOTAL NET PRINCIPAL
> 17,126,115.66 4,350,873.65 21,476,989.31
Interest Collections
> 6,614,600.02 2,307,206.44 8,921,806.46
Interest Withdrawals
> 0.00 0.00 0.00
Interest Other Accounts
> 0.00 1.06 149,983.18
Interest Fees
> (56,859.18) (43,833.47) (491,200.50)
TOTAL NET INTEREST
> 6,557,740.84 2,263,374.03 8,580,589.14
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION
> 23,683,856.50 6,614,247.68 30,057,578.45
PRINCIPAL - COLLECTIONS
> GROUP 2 GROUP 1 TOTAL
Scheduled Principal Received
> 586,113.86 316,732.22 902,846.08
Prepayments In Full
> 4,752,022.56 1,759,265.07 6,511,287.63
Curtailments
> 46,064.71 42,827.31 88,892.02
Liquidations
> 188,655.13 0.00 188,655.13
Insurance Principal
> 0.00 0.00 0.00
Repurchased Principal Amounts
> 11,553,414.85 2,231,641.53 13,785,056.38
Other Principal
> 0.00 0.00 0.00
Total Realized Loss Of Principal
> (155.45) 0.00 (155.45)
Delinquent Principal
> (507,207.82) (222,738.65) (729,946.47)
Advanced Principal
> 507,207.82 222,738.65 729,946.47
TOTAL PRINCIPAL COLLECTED
> 17,126,115.66 4,350,466.13 21,476,581.79
Page 10 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Collection Account Report for December 26, 2002 Distribution
Collection Account Report
PRINCIPAL - WITHDRAWALS
> GROUP 2 GROUP 1 TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
> GROUP 2 GROUP 1 TOTAL
TOTAL OTHER ACCOUNTS PRINCIPAL
> 0.00 407.52 407.52
INTEREST - COLLECTIONS
> GROUP 2 GROUP 1 TOTAL
Scheduled Interest
> 6,855,538.66 2,393,315.00 9,248,853.66
Liquidation Interest
> 1,234.12 0.00 1,234.12
Repurchased Interest
> 93,783.25 17,280.57 111,063.82
Insurance Interest
> 0.00 0.00 0.00
Other Interest
> 0.00 0.00 0.00
Relief Act Interest Shortfalls
> 0.00 0.00 0.00
Prepayment Interest Shortfalls
> (9,955.64) (1,379.55) (11,335.19)
Compensating Interest
> 9,955.64 1,379.55 11,335.19
Delinquent Interest
> (5,972,015.19) (1,703,415.17) (7,675,430.36)
Interest Advanced
> 5,636,059.18 1,600,026.04 7,236,085.22
TOTAL INTEREST COLLECTED
> 6,614,600.02 2,307,206.44 8,921,806.46
Page 11 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Collection Account Report for December 26, 2002 Distribution
Collection Account Report
INTEREST - WITHDRAWALS
> GROUP 2 GROUP 1 TOTAL
Extraordinary Trust Fund Expenses
> 0.00 0.00 0.00
TOTAL INTEREST WITHDRAWALS
> 0.00 0.00 0.00
INTEREST - OTHER ACCOUNTS
> GROUP 2 GROUP 1 TOTAL
Prepayment Charges
> 149,982.12
Capitalized Interest Requirement
> 0.00 1.06 1.06
TOTAL INTEREST OTHER ACCOUNTS
> 0.00 1.06 149,983.18
INTEREST - FEES
> GROUP 2 GROUP 1 TOTAL
Current Servicing Fees
> 55,606.18 43,363.86 98,970.04
Trustee Fee
> 1,253.00 469.61 1,722.61
Guarantee Fee
> 390,507.85
TOTAL INTEREST OTHER FEES
> 56,859.18 43,833.47 491,200.50
Page 12 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Credit Enhancement Report for December 26, 2002 Distribution
Credit Enhancement Report
ACCOUNTS
> GROUP 2 GROUP 1 TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE
> GROUP 2 GROUP 1 TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
> GROUP 2 GROUP 1 TOTAL
Overcollateralized Amount
> 10,400,000.00
Overcollateralization Release Amount
> 0.00
Overcollateralization Deficiency Amount
> 155.45
Overcollateralization Target Amount
> 10,400,000.00
Excess Overcollateralization Amount
> 0.00
Page 13 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Collateral Report for December 26, 2002 Distribution
Collateral Report
COLLATERAL
> GROUP 2 GROUP 1 TOTAL
Loan Count:
Original
> 6871 1955 8826
Prior
> 6834 1947 8781
Prefunding
> 0 687 687
Scheduled Paid Offs
> 0 0 0
Full Voluntary Prepayments
> -31 -10 -41
Repurchases
> -88 -18 -106
Liquidations
> -1 0 -1
Current
> 6714 2606 9320
Principal Balance:
Original
> 946341572.4 265241897.9 1211583470
Prior
> 939749237.8 263798027.7 1203547266
Prefunding
> 0 88409146.55 88409146.55
Scheduled Principal
> -586113.86 -316732.22 -902846.08
Partial and Full Voluntary Prepayments
> -4798087.27 -1802092.38 -6600179.65
Repurchases
> -11553414.85 -2231641.53 -13785056.38
Liquidations
> -188655.13 0 -188655.13
Current
> 922622966.7 347856708.2 1270479675
PREFUNDING
> GROUP 2 GROUP 1 TOTAL
Initial Deposit
> 0.00
Group 1
Group 2
Current Prin Balance by Groups (in millions of dollars) Tota
>l Current Principal Balance (in millions of dollars)
Page 14 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Collateral Report for December 26, 2002 Distribution
Collateral Report
CHARACTERISTICS
> GROUP 2 GROUP 1 TOTAL
Weighted Average Coupon Original
> 0.088767256 0.082374733 0.087367794
Weighted Average Coupon Prior
> 0.088767256 0.082374733 0.087367794
Weighted Average Coupon Current
> 0.088754179 0.082131055 0.086948614
Weighted Average Months to Maturity Original
> 354 335 349.8355084
Weighted Average Months to Maturity Prior
> 354 335 349.8355084
Weighted Average Months to Maturity Current
> 353 334 347.7978094
Weighted Avg Remaining Amortization Term Original
> 353.2075646 334.2453583 349.0513567
Weighted Avg Remaining Amortization Term Prior
> 353.2075646 334.2453583 349.0513567
Weighted Avg Remaining Amortization Term Current
> 352.1686161 333.4839193 347.0527553
Weighted Average Seasoning Original
> 2.26902692 2.58784255 2.338906132
Weighted Average Seasoning Prior
> 2.26902692 2.58784255 2.338906132
Weighted Average Seasoning Current
> 3.2648179 3.06621209 3.210439727
Note: Original information refers to deal issue.
Group 1
Group 2
WAC by Groups Tota
>l WAC
WARAT by Groups Tota
>l WARAT
Note: Dates correspond to distribution dates.
Page 15 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Collateral Report for December 26, 2002 Distribution
Collateral Report
ARM CHARACTERISTICS
> GROUP 2 GROUP 1 TOTAL
Weighted Average Margin Original
> 0.06406938
Weighted Average Margin Prior
> 0.06406938
Weighted Average Margin Current
> 0.06407018
Weighted Average Max Rate Original
> 0.14876836 0.00065022
Weighted Average Max Rate Prior
> 0.14876836 0.00065022
Weighted Average Max Rate Current
> 0.14875418 0.00589076
Weighted Average Min Rate Original
> 0.08876836 0.08237473
Weighted Average Min Rate Prior
> 0.08876836 0.08237473
Weighted Average Min Rate Current
> 0.08875418 0.08213106
Weighted Average Cap Up Original
> 0.01
Weighted Average Cap Up Prior
> 0.01
Weighted Average Cap Up Current
> 0.01
Weighted Average Cap Down Original
> 0.01
Weighted Average Cap Down Prior
> 0.01
Weighted Average Cap Down Current
> 0.01
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES
> GROUP 2 GROUP 1 TOTAL
Current Servicing Fees
> 55,606.18 43,363.86 98,970.04
Delinquent Servicing Fees
> 335,956.01 103,389.13 439,345.14
TOTAL SERVICING FEES
> 391,562.19 146,752.99 538,315.18
Compensating Interest
> (9,955.64) (1,379.55) (11,335.19)
Delinquent Servicing Fees
> (335,956.01) (103,389.13) (439,345.14)
COLLECTED SERVICING FEES
> 45,650.54 41,984.31 87,634.85
Aggregate Advances with respect to this Distribution
> 6,143,267.00 1,822,764.69 7,966,031.69
Current Nonrecoverable Advances
> 0.00 0.00 0.00
ADDITIONAL COLLATERAL INFORMATION
> GROUP 2 GROUP 1 TOTAL
Net Prepayment Interest Shortfall
> 0.00 0.00 0.00
Page 16 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Delinquency Report for December 26, 2002 Distribution
Delinquency Report - Total
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 6479528.63 85517.67 0 6565046.3
% Balance
>0.005100065 6.73113E-05 0 0.005167376
# Loans
> 52 1 0 53
% # Loans
>0.005579399 0.000107296 0 0.005686695
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 1384065.89
> 125735.65 0 0 1509801.54
% Balance 0.001089404
>9.89671E-05 0 0 0.001188371
# Loans 8
> 1 0 0 9
% # Loans 0.000858369
>0.000107296 0 0 0.000965665
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 1384065.89
> 6605264.28 85517.67 0 8074847.84
% Balance 0.001089404
>0.005199032 6.73113E-05 0 0.006355747
# Loans 8
> 53 1 0 62
% # Loans 0.000858369
>0.005686695 0.000107296 0 0.006652361
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 17 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Delinquency Report for December 26, 2002 Distribution
Delinquency Report - Group 1 Group
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 805303.36 0 0 805303.36
% Balance
>0.002315043 0 0 0.002315043
# Loans
> 8 0 0 8
% # Loans
>0.003069839 0 0 0.003069839
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 392597.65
> 0 0 0 392597.65
% Balance 0.001128619
> 0 0 0 0.001128619
# Loans 2
> 0 0 0 2
% # Loans 0.00076746
> 0 0 0 0.00076746
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 392597.65
> 805303.36 0 0 1197901.01
% Balance 0.001128619
>0.002315043 0 0 0.003443662
# Loans 2
> 8 0 0 10
% # Loans 0.00076746
>0.003069839 0 0 0.003837299
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 18 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Delinquency Report for December 26, 2002 Distribution
Delinquency Report - Group 2 Group
CURRENT 1 PA
>YMENT 2 PAYMTS 3+ PAYMTS TOTAL
DELINQUENT Balance
> 5674225.27 85517.67 0 5759742.94
% Balance
>0.006150102 9.26897E-05 0 0.006242792
# Loans
> 44 1 0 45
% # Loans
> 0.00655347 0.000148943 0 0.006702413
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 991468.24
> 125735.65 0 0 1117203.89
% Balance 0.001074619
>0.000136281 0 0 0.0012109
# Loans 6
> 1 0 0 7
% # Loans 0.000893655
>0.000148943 0 0 0.001042598
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 991468.24
> 5799960.92 85517.67 0 6876946.83
% Balance 0.001074619
>0.006286383 9.26897E-05 0 0.007453691
# Loans 6
> 45 1 0 52
% # Loans 0.000893655
>0.006702413 0.000148943 0 0.00774501
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 19 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
REO Report for December 26, 2002 Distribution
REO Report - Mortgage Loans that Become REO During Current Dis
>tribution
SUMMARY LOAN GROUP
Total Loan Count = 0 Loan Group 1
>= Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00 Loan Group 2
> = Group 2 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 20 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Foreclosure Report for December 26, 2002 Distribution
Foreclosure Report - Mortgage Loans that Become Foreclosure Du
>ring Current Distribution
SUMMARY LOAN GROUP
Total Loan Count = 0 Loan Group 1
>= Group 1 Group
Total Original Principal Balance = 000.00 Loan Group 2
> = Group 2 Group
Total Current Balance = 000.00
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 21 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Prepayment Report for December 26, 2002 Distribution
Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS
> GROUP 2 GROUP 1 TOTAL
Current
Number of Paid in Full Loans
> 31 10 41
Number of Repurchased Loans
> 88 18 106
Total Number of Loans Prepaid in Full
> 119 28 147
Paid in Full Balance
> 4752022.56 1759265.07 6511287.63
Repurchased Loans Balance
> 11553414.85 2231641.53 13785056.38
Curtailments Amount
> 46064.71 42827.31 88892.02
Total Prepayment Amount
> 16351502.12 4033733.91 20385236.03
Cumulative
Number of Paid in Full Loans
> 57 17 74
Number of Repurchased Loans
> 99 19 118
Total Number of Loans Prepaid in Full
> 156 36 192
Paid in Full Balance
> 9228962.82 2657747.28 11886710.1
Repurchased Loans Balance
> 12891976.96 2487468.05 15379445.01
Curtailments Amount
> 233720.29 94824.43 328544.72
Total Prepayment Amount
> 22354660.07 5240039.76 27594699.83
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars) Tota
>l Prepayments (in thousands of dollars)
Page 22 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Prepayment Report for December 26, 2002 Distribution
Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES
> GROUP 2 GROUP 1 TOTAL
SMM
> 0.017410716 0.011463039 0.015789613
3 Months Avg SMM
12 Months Avg SMM
Avg SMM Since Cut-off
> 0.011894588 0.00801355 0.010884286
CPR
> 0.190038673 0.129206971 0.173856805
3 Months Avg CPR
12 Months Avg CPR
Avg CPR Since Cut-off
> 0.133757806 0.092035473 0.123069412
PSA
> 29.10402337 21.06947708 27.07679007
3 Months Avg PSA Approximation
12 Months Avg PSA Approximation
Avg PSA Since Cut-off Approximation
> 24.17086325 16.27778268 22.17728273
Group 1
Group 2
CPR by Groups Tota
>l CPR
PSA by Groups Tota
>l PSA
Page 23 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Prepayment Report for December 26, 2002 Distribution
Prepayment Report - Voluntary Prepayments
Group 1
Group 2
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 24 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Prepayment Detail Report for December 26, 2002 Distribution
Prepayment Detail Report - Loans Prepaid in Full During Curren
>t Distribution
SUMMARY
> LOAN GROUP
Total Loan Count = 147
> Loan Group 1 = Group 1 Group
Total Original Principal Balance = 20,326,425.00
> Loan Group 2 = Group 2 Group
Total Prepayment Amount = 20,296,344.01
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
36372134 1 175000 174710.44
> 37593 0.0899NJ - 89.74% Paid Off - 36 37468
36772325 1 270000 268528.01
> 37600 0.075UT - 87.10% Paid Off - 24 37461
36916443 1 140400 140085.43
> 37589 0.075MA - 8509.10%Paid Off - 36 37468
37035011 1 147000 146686.71
> 37596 0.0775CA - 36.75% Paid Off - 36 37448
37042793 1 146800 146389.74
> 37594 0.082OH - 88.97% Paid Off - 36 37445
37357639 1 189000 188616.92
> 37591 0.07999IL - 90.00% Paid Off - 36 37468
37545472 1 118150 118060.64
> 37581 0.1075AZ - 85.00% Paid Off - 36 37489
37915931 1 125000 124876.54
> 37591 0.095NY - 37.88% Paid Off - 36 37487
38195566 1 261500 261110.64
> 37592 0.075IL - 76.91% Paid Off - 36 37491
38555728 1 190200 190200
> 37596 0.09125CA - 7763.30%Paid Off - 36 37544
36156255 2 165000 164584.15
> 37593 0.0836CA - 84.62% Paid Off - 36 37433
36541670 2 72000 71920.56
> 37591 0.109IN - 80.00% Paid Off - 36 37461
36701456 2 144500 144213.03
> 37594 0.081MN - 85.00% Paid Off - 36 37452
36993350 2 59925 59855.21
> 37587 0.1065MI - 85.00% Paid Off - 36 37440
36997625 2 123000 122933.07
> 37591 0.1225NY - 60.00% Paid Off - 36 37477
37008133 2 238500 238228.73
> 37591 0.10759IL - 90.00% Paid Off - 36 37468
37019320 2 150000 149772.1
> 37594 0.09399MA - 65.22% Paid Off - 36 37463
37046943 2 55250 55174.45
> 37587 0.099IA - 69.06% Paid Off - 36 37467
37049434 2 80000 79859.45
> 37572 0.087CO - 80.00% Paid Off - 36 37468
37055803 2 182000 181783.43
> 37594 0.1055MN - 70.00% Paid Off - 36 37454
37096542 2 59500 59412
> 37585 0.10159IL - 66.85% Paid Off - 36 37459
37146693 2 56000 55931.17
> 37582 0.104MA - 27.32% Paid Off - 36 37448
37274123 2 154000 153718.12
> 37580 0.085NJ - 64.17% Paid Off - 36 37462
37299716 2 194000 193738.78
> 37593 0.08NJ - 77.60% Paid Off - 36 37482
37324985 2 80500 80378.84
> 37575 0.0825MA - 25.97% Paid Off - 36 37488
37400371 2 162000 161703.48
> 37591 0.085IL - 84.82% Paid Off - 36 37463
37451937 2 108750 108592.4
> 37591 0.097MN - 75.00% Paid Off - 36 37459
37467099 2 230000 229800.14
> 37568 0.1199IL - 82.44% Paid Off - 36 37468
37545282 2 84000 83886.42
> 37587 0.0999FL - 60.00% Paid Off - 36 37467
37647526 2 221000 220635.05
> 37591 0.08999CA - 83.40% Paid Off - 36 37468
37655321 2 162000 161827.81
> 37587 0.0915MA - 55.86% Paid Off - 36 37482
37662756 2 193600 193424.3
> 37593 0.099FL - 80.00% Paid Off - 36 37490
37785771 2 226400 226225.01
> 37582 0.1065NY - 80.00% Paid Off - 36 37477
37851300 2 292500 292073.11
> 37572 0.076NY - 90.00% Paid Off - 36 37490
37938438 2 300000 299587.81
> 37594 0.079NY - 68.18% Paid Off - 36 37480
38010120 2 136500 136350.28
> 37575 0.08999CA - 62.05% Paid Off - 36 37489
38047494 2 172500 172329.62
> 37591 0.095CA - 72.48% Paid Off - 36 37497
38334801 2 112500 112439.18
> 37596 0.0905TN - 90.00% Paid Off - 36 37505
38454286 2 128000 127921.65
> 37578 0.0845AZ - 80.00% Paid Off - 36 37529
38507349 2 121500 121374.85
> 37575 0.093NJ - 90.00% Paid Off - 36 37498
38742094 2 292500 292348.36
> 37595 0.0925NY - 65.00% Paid Off - 36 37526
36746493 1 51000 50965.8
> 37586 0.1315FL - 85.00% Repur/Subs - 37480
36964021 1 92000 91266.07
> 37591 0.095TX - 80.00% Repur/Subs - 37462
37021904 1 90000 89826.65
> 37591 0.0825IA - 90.00% Repur/Subs - 37462
Page
> 25 of 32 COPYRIGHT 2002 Deutsc
>he Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Prepayment Detail Report for December 26, 2002 Distribution
Prepayment Detail Report - Loans Prepaid in Full During Curren
>t Distribution
Loan Number Original
> Current State &
& Loan Principal Prepayment Prep
>ayment Note LTV at Original Origination
Loan Group Status Balance Amount Date
> Rate Origination Term Date
37094349 1 255000 254640.17
> 37591 0.0975WI - 85.00% Repur/Subs - 37462
37098027 1 85500 85326.74
> 37586 0.08IA - 90.00% Repur/Subs - 37456
37105681 1 102600 102461.23
> 37591 0.0995OH - 90.00% Repur/Subs - 37452
37227717 1 107950 107748.31
> 37586 0.084FL - 85.00% Repur/Subs - 37452
37355211 1 196000 194993.79
> 37586 0.0799NJ - 89.09% Repur/Subs - 37468
37426335 1 106900 106694.08
> 37586 0.0825IA - 85.52% Repur/Subs - 37467
37468683 1 71500 71362.26
> 37586 0.0825IA - 84.12% Repur/Subs - 37467
37497872 1 121500 121277.61
> 37591 0.085IA - 88.69% Repur/Subs - 37467
37525995 1 148000 147818.18
> 37586 0.0845NY - 80.00% Repur/Subs - 37473
37526332 1 96050 95939.06
> 37591 0.0875OK - 85.00% Repur/Subs - 37487
37740776 1 125000 124284.66
> 37586 0.0815TX - 55.93% Repur/Subs - 37482
37849684 1 234000 233832.36
> 37591 0.11MD - 90.00% Repur/Subs - 37491
37958915 1 153000 152881.75
> 37586 0.1065FL - 90.00% Repur/Subs - 37499
37989266 1 115500 115400.79
> 37591 0.10159RI - 70.00% Repur/Subs - 37487
38090304 1 85000 84922.02
> 37586 0.0985LA - 85.00% Repur/Subs - 37483
36376879 2 93750 93632.32
> 37591 0.1165RI - 84.46% Repur/Subs - 37435
36557023 2 121500 121279.2
> 37586 0.0875IA - 90.00% Repur/Subs - 37466
36664167 2 117000 116710.04
> 37586 0.0699IA - 86.67% Repur/Subs - 37467
36706554 2 233750 233365.36
> 37586 0.104FL - 85.00% Repur/Subs - 37435
36743953 2 238000 237492.78
> 37586 0.0775CA - 85.00% Repur/Subs - 37456
36798270 2 104000 103813.61
> 37586 0.09999NE - 81.25% Repur/Subs - 37449
36849081 2 84000 83938.48
> 37586 0.109IA - 70.00% Repur/Subs - 37495
36851582 2 68000 67896.21
> 37591 0.1075IA - 71.58% Repur/Subs - 37459
36879161 2 116875 116625.92
> 37591 0.0775IA - 85.00% Repur/Subs - 37460
36887974 2 63800 63753.18
> 37586 0.1275MN - 47.97% Repur/Subs - 37466
36928869 2 243000 242555.24
> 37586 0.085CA - 90.00% Repur/Subs - 37446
36950178 2 50000 49898.65
> 37586 0.08IA - 64.10% Repur/Subs - 37468
36954816 2 174250 174006.7
> 37591 0.098MN - 85.00% Repur/Subs - 37469
36975902 2 198750 198557.79
> 37586 0.096CA - 75.00% Repur/Subs - 37480
36980712 2 153000 152563.82
> 37586 0.0775CA - 90.00% Repur/Subs - 37468
37003399 2 64000 63932.69
> 37586 0.1115IA - 80.00% Repur/Subs - 37468
37007895 2 69300 69200.1
> 37591 0.0965TX - 90.00% Repur/Subs - 37449
37021615 2 82400 82322.81
> 37586 0.1165TX - 80.00% Repur/Subs - 37468
37045598 2 152150 151996.53
> 37586 0.099NJ - 85.00% Repur/Subs - 37475
37096716 2 166500 166332.04
> 37586 0.094IA - 90.00% Repur/Subs - 37498
37098282 2 105400 105235.52
> 37586 0.095MN - 85.00% Repur/Subs - 37468
37099041 2 94000 93860.17
> 37591 0.095IA - 74.60% Repur/Subs - 37460
37099843 2 300000 299589.89
> 37586 0.099TX - 66.67% Repur/Subs - 37460
37108628 2 148500 148228.73
> 37586 0.095MD - 90.00% Repur/Subs - 37463
37110806 2 105000 104890.29
> 37591 0.1115KS - 70.00% Repur/Subs - 37468
37132057 2 110000 109788.1
> 37586 0.0825IA - 78.57% Repur/Subs - 37449
37136272 2 96000 95784.91
> 37586 0.075IA - 87.27% Repur/Subs - 37468
37140662 2 250750 250356.99
> 37586 0.0925MN - 85.00% Repur/Subs - 37460
37174414 2 204000 203831.36
> 37586 0.105MA - 85.00% Repur/Subs - 37494
37200532 2 101250 101066.14
> 37586 0.1025MN - 81.00% Repur/Subs - 37468
37226768 2 51200 51162.42
> 37591 0.129TX - 80.00% Repur/Subs - 37468
37273422 2 158400 158161.91
> 37591 0.0945MN - 90.00% Repur/Subs - 37453
37276177 2 165750 165498.24
> 37586 0.094IA - 85.00% Repur/Subs - 37467
37315694 2 205000 204832.8
> 37586 0.104MS - 79.46% Repur/Subs - 37491
37318870 2 102400 102249.27
> 37591 0.0955IL - 80.00% Repur/Subs - 37467
37322195 2 169150 168741.17
> 37586 0.095MI - 85.00% Repur/Subs - 37468
37322757 2 70000 69917.36
> 37591 0.109IA - 79.55% Repur/Subs - 37468
Page
> 26 of 32 COPYRIGHT 2002 Deutsc
>he Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Prepayment Detail Report for December 26, 2002 Distribution
Prepayment Detail Report - Loans Prepaid in Full During Curren
>t Distribution
Loan Number Original
> Current State &
& Loan Principal Prepayment Prep
>ayment Note LTV at Original Origination
Loan Group Status Balance Amount Date
> Rate Origination Term Date
37325701 2 59500 59432.56
> 37586 0.10775MO - 85.00% Repur/Subs - 37468
37337599 2 85000 84886.2
> 37591 0.09999IA - 85.00% Repur/Subs - 37468
37356359 2 144000 143817.27
> 37591 0.1025IA - 90.00% Repur/Subs - 37468
37397494 2 103500 103405.67
> 37586 0.11775IA - 75.00% Repur/Subs - 37466
37409893 2 90000 89879.3
> 37591 0.0999IA - 69.23% Repur/Subs - 37468
37426913 2 85500 85351.35
> 37586 0.0875IA - 90.00% Repur/Subs - 37468
37428612 2 106500 106346.52
> 37586 0.0965IA - 73.96% Repur/Subs - 37467
37452281 2 84750 84626.44
> 37586 0.1035CO - 75.00% Repur/Subs - 37466
37464591 2 57600 57535.58
> 37586 0.1089IL - 58.48% Repur/Subs - 37468
37468212 2 99000 98669.12
> 37586 0.0805NM - 90.00% Repur/Subs - 37467
37485687 2 290700 290267.61
> 37586 0.095AZ - 85.00% Repur/Subs - 37466
37494499 2 148500 148227.63
> 37591 0.0849FL - 95.00% Repur/Subs - 37462
37498789 2 62900 62801.39
> 37586 0.0925OH - 85.00% Repur/Subs - 37468
37518990 2 165750 165606.26
> 37586 0.11999CA - 85.00% Repur/Subs - 37468
37580966 2 68000 67875.51
> 37586 0.085IA - 80.00% Repur/Subs - 37468
37603370 2 156000 155910.25
> 37586 0.11999ME - 80.00% Repur/Subs - 37470
37621851 2 182750 182543.26
> 37586 0.0885NY - 85.00% Repur/Subs - 37490
37637766 2 72250 72219.48
> 37591 0.13525FL - 85.00% Repur/Subs - 37475
37661022 2 97750 97678.43
> 37591 0.109MI - 85.00% Repur/Subs - 37490
37665155 2 93500 93053.1
> 37591 0.1015MO - 85.00% Repur/Subs - 37481
37697968 2 110500 110416.24
> 37586 0.1074GA - 85.00% Repur/Subs - 37498
37708930 2 96300 95851.11
> 37586 0.0799IA - 90.00% Repur/Subs - 37477
37709664 2 140000 139874.26
> 37591 0.0995MI - 65.12% Repur/Subs - 37488
37716180 2 72250 72156.34
> 37586 0.1015KS - 85.00% Repur/Subs - 37468
37718384 2 76500 76367.89
> 37586 0.068FL - 85.00% Repur/Subs - 37487
37718442 2 56250 56219.38
> 37586 0.1225MI - 75.00% Repur/Subs - 37484
37725603 2 66300 66196.07
> 37591 0.0925MI - 85.00% Repur/Subs - 37468
37736337 2 216000 215835.68
> 37591 0.1075NY - 80.00% Repur/Subs - 37482
37738028 2 100100 100037.78
> 37586 0.1165IA - 77.00% Repur/Subs - 37487
37739547 2 157500 157367.34
> 37586 0.1025NJ - 75.00% Repur/Subs - 37481
37760378 2 232475 232361.9
> 37591 0.1275AZ - 85.00% Repur/Subs - 37489
37779998 2 117000 116839.23
> 37586 0.079CA - 79.59% Repur/Subs - 37496
37810041 2 300000 299670.95
> 37586 0.08999NY - 78.95% Repur/Subs - 37483
37813946 2 232200 231958.3
> 37586 0.0925IL - 90.00% Repur/Subs - 37484
37818531 2 117000 116831.67
> 37586 0.09659IL - 90.00% Repur/Subs - 37468
37825890 2 130400 130249.4
> 37586 0.0875TX - 80.00% Repur/Subs - 37497
37835188 2 128000 127883.82
> 37591 0.099MI - 80.00% Repur/Subs - 37488
37867181 2 118000 117902.9
> 37586 0.10359IL - 80.00% Repur/Subs - 37491
37903085 2 97750 97668.1
> 37591 0.10275IA - 85.00% Repur/Subs - 37498
37918471 2 74800 74722.12
> 37586 0.0925FL - 85.00% Repur/Subs - 37473
37935962 2 166500 166307.7
> 37586 0.0875MN - 90.00% Repur/Subs - 37489
37938727 2 225000 224714.98
> 37591 0.083CA - 90.00% Repur/Subs - 37496
37988813 2 115000 114837.13
> 37586 0.0775IA - 84.56% Repur/Subs - 37488
38065959 2 200000 199840.34
> 37586 0.105MA - 80.00% Repur/Subs - 37491
38072724 2 68000 67984.41
> 37591 0.1299TX - 80.00% Repur/Subs - 37529
38129805 2 62400 62339.96
> 37591 0.09625MN - 80.00% Repur/Subs - 37497
38189825 2 250750 250474.97
> 37586 0.08999NJ - 87.07% Repur/Subs - 37498
38267514 2 78200 78116.88
> 37591 0.0915IA - 85.00% Repur/Subs - 37498
38620993 2 272000 271815.46
> 37586 0.1125TX - 85.00% Repur/Subs - 37499
38867214 2 144500 144409.83
> 37596 0.08356NJ - 85.00% Repur/Subs - 37529
39143300 2 63000 62961.04
> 37594 0.084MI - 87.50% Repur/Subs - 37529
Page
> 27 of 32 COPYRIGHT 2002 Deutsc
>he Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Realized Loss Report for December 26, 2002 Distribution
Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES
> GROUP 2 GROUP 1 TOTAL
Current
Number of Loans Liquidated
> 1 0 1
Collateral Realized Loss/(Gain) Amount
> 155.45 0 155.45
Net Liquidation Proceeds
> 188499.68 0 188499.68
Cumulative
Number of Loans Liquidated
> 1 0 1
Collateral Realized Loss/(Gain) Amount
> 155.45 0 155.45
Net Liquidation Proceeds
> 188499.68 0 188499.68
Note: Collateral realized losses may include adjustments to loan
>s liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
Group 1
> 3 Months Moving Average
Group 2
Collateral Loss Severity Approximation by Groups Coll
>ateral Loss Severity Approximation
Page 28 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Realized Loss Report for December 26, 2002 Distribution
Realized Loss Report - Collateral
DEFAULT SPEEDS
> GROUP 2 GROUP 1 TOTAL
MDR
> 0.000200751 0 0.000146023
3 Months Avg MDR
12 Months Avg MDR
Avg MDR Since Cut-off
> 0.00010038 0 7.30141E-05
CDR
> 0.002406348 0 0.001750867
3 Months Avg CDR
12 Months Avg CDR
Avg CDR Since Cut-off
> 0.001203899 0 0.000875817
SDA
> 0.036852713 0 0.027268341
3 Months Avg SDA Approximation
12 Months Avg SDA Approximation
Avg SDA Since Cut-off Approximation
> 0.021755194 0 0.01578235
Loss Severity Approximation for Current Period
> 0.00082399 0.00082399
3 Months Avg Loss Severity Approximation
12 Months Avg Loss Severity Approximation
Avg Loss Severity Approximation Since Cut-off
> 0.00082399 0.00082399
Group 1
Group 2
CDR by Groups Tota
>l CDR
SDA by Groups Tota
>l SDA
Page 29 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Realized Loss Report for December 26, 2002 Distribution
Realized Loss Report - Collateral
Group 1
Group 2
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 30 of 32
> COPYRIGHT 2002 Deutsche Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Realized Loss Detail Report for December 26, 2002 Distribution
Realized Loss Detail Report - Loans Liquidated During Current
>Distribution
SUMMARY
> LOAN GROUP
Total Loan Count = 1
> Loan Group 1 = Group 1 Group
Total Original Principal Balance = 189,050.00
> Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 188,655.13
Total Realized Loss Amount = 155.45
Total Net Liquidation Proceeds = 188,499.68
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
37173663 2 189050 188655.13
> 155.45 0.0785AK - 95.00% 360 37461
Page
> 31 of 32 COPYRIGHT 2002 Deutsc
>he Bank
Ameriquest Mortgage Securities Inc. 2002-C
Asset Backed Certificates
Triggers, Adj. Rate Cert. and Miscellaneous Report for December
>26, 2002 Distribution
Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS
> GROUP 2 GROUP 1 TOTAL
Trigger Event in effect
> No
Stepdown Date has occurred
> No
Balances 60+ days
> 1,595,319.21
Beginning Balance
> 1,270,479,674.85
Delinquency Percentage
> 0.13%
Cumulative Realized Loss Percentage
> 0.000012%
Three Month Rolling Delinquency Percentage
> 0.064071%
ADJUSTABLE RATE CERTIFICATE INFORMATION
> GROUP 2 GROUP 1 TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
> GROUP 2 GROUP 1 TOTAL
Net WAC Rate Carryover Amt: Class AV-1
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class M-1
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class M-2
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class S
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class AV-1 unpaid
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class M-1 unpaid
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class M-2 unpaid
> 0.00 0.00 0.00
Net WAC Rate Carryover Amt: Class S unpaid
> 0.00 0.00 0.00
Libor for Current Period
> 1.380000%
Page 32 of 32
> COPYRIGHT 2002 Deutsche Bank