UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported) : September 25, 2002
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (as company under a
Pooling and Servicing Agreement, dated as of April 1, 2002, providing for,
inter alia, the issuance of CSFB Mortgage Pass-Through Certificates, Series
2001-S12)
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware 333-77054-12 13-3320910
State or Other Jurisdiction (Commission (IRS Employer
of Incorporation ) File Number) Identification No.)
11 Madison Ave.
New York, New York 10010
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code :(212)538-3000
N/A
(Former name or former address, if changed since last report.)
Item 5. Other Events.
This report and the attached exhibit is being filed with respect to the
Registrant's CSFB Mortgage Pass-through Certificates, Series 2001-S12 (the
"Certificates") pursuant to "no-action" positions taken by the Securities and
Exchange Commission with respect to alternative means of satisfying the
Registrant's reporting obligations under the Securities Exchange Act of 1934, as
amended. The Certificates were issued, and this report and exhibit is being
filed, pursuant to the terms of the Pooling and Servicing Agreement, dated as of
April 1, 2002 among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, DLJ Mortgage Capital Inc., as seller, Wilshire Credit Corporation and
Ocwen Federal Bank FSB as servicers, and JPMorgan Chase Bank, as trustee. On
September 25 2002 distributions were made to the Certificateholders.
Specific information with respect to the distributions is filed as Exhibit
99.1. No other reportable transactions or matters have occurred during the
current reporting period.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) The following exhibits are filed as part of this report:
Statement to Certificateholders on September 25, 2002 is filed as
Exhibit 99.1 hereto.
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<page>
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
CSFB Mortgage Pass-Through Certificates, Series 2002-S12
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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.
JPMorgan Chase Bank, not in its individual
capacity but solely as Trustee
under the Agreement referred to herein
Date: October 1, 2002 By: /s/ Andreas Auer
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Andreas Auer
Assistant Vice President
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<page>
INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
September 25, 2002
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Exhibit 99.1
Monthly Certificateholder Statement on September 25, 2002
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<page>
CSFB Mortgage Pass-Through Certificates, Series 2002-S12
Statement to Certificate Holders
September 25, 2002
<s> <c> <c>
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DISTRIBUTION IN DOLLARS
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ORIGINAL BEGINNING
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE
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A1 185,500,000.00 164,907,535.83 7,065,786.91 780,837.18 7,846,624.09 0.00 0.00 157,841,748.92
A2 163,000,000.00 144,905,274.08 6,208,750.76 259,621.95 6,468,372.71 0.00 0.00 138,696,523.32
A3 22,500,000.00 20,002,261.75 857,036.15 37,504.24 894,540.39 0.00 0.00 19,145,225.60
AR 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M1 40,000,000.00 40,000,000.00 0.00 97,000.00 97,000.00 0.00 0.00 40,000,000.00
M2 38,500,000.00 38,500,000.00 0.00 120,633.33 120,633.33 0.00 0.00 38,500,000.00
B1A 7,750,000.00 7,750,000.00 0.00 27,835.42 27,835.42 0.00 0.00 7,750,000.00
B1B 7,750,000.00 7,750,000.00 0.00 32,033.33 32,033.33 0.00 0.00 7,750,000.00
P 100.00 100.00 0.00 140,069.79 140,069.79 0.00 0.00 100.00
TOTALS 465,000,200.00 423,815,171.66 14,131,573.82 1,495,535.24 15,627,109.06 0.00 0.00 409,683,597.84
X1 465,000,100.00 432,470,504.33 0.00 14.03 14.03 0.00 0.00 419,850,394.86
X2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
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BEGINNING ENDING CURRENT
CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE
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A1 22540VL42 888.98941148 38.09049547 4.20936485 42.29986032 850.89891601 A1 5.682000 %
A2 22540VL59 888.98941153 38.09049546 1.59277270 39.68326816 850.89891607 A2 2.150000 %
A3 22540VM66 888.98941111 38.09049556 1.66685511 39.75735067 850.89891556 A3 2.250000 %
AR 22540VL67 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 11.913965 %
M1 22540VL75 1,000.00000000 0.00000000 2.42500000 2.42500000 1,000.00000000 M1 2.910000 %
M2 22540VL83 1,000.00000000 0.00000000 3.13333325 3.13333325 1,000.00000000 M2 3.760000 %
B1A 22540VL91 1,000.00000000 0.00000000 3.59166710 3.59166710 1,000.00000000 B1A 4.310000 %
B1B 22540VM25 1,000.00000000 0.00000000 4.13333290 4.13333290 1,000.00000000 B1B 4.960000 %
P 22540VM33 1,000.00000000 0.00000000 ### ### 1,000.00000000 P 11.913965 %
TOTALS 911.43008468 30.39046826 3.21620343 33.60667170 881.03961641
X1 22540VM41 930.04389532 0.00000000 0.00003017 0.00003017 902.90388079 X1 0.000000 %
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IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
Scott B. Rubin
JPMorgan Chase Bank - Structured Finance Services
450 West 33rd St, 14th fl,
New York, New York 10001
Tel: (212) 946-8847
Fax: (212) 946-8919
Email: scott.b.rubin@chase.com
Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.
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Credit Suisse First Boston, Mortgage Pass-Through Certificates, Series 2002-S12
Statement to Certificate Holders
September 25 2002
Sec. 4.06(a)(i) Principal Remittance Amount 11,272,943.61
Scheduled Principal Payments 291,151.44
Principal Prepayments 10,669,223.35
Curtailments 284,687.98
Curtailment Interest Adjustments 927.16
Repurchase Principal 0.00
Substitution Amounts 0.00
Net Liquidation Proceeds 27,663.46
Other Principal Adjustments -709.78
Gross Interest 4,508,304.31
Recoveries From Prior Loss Determinations 0.00
Reimbursements of Non-Recoverable Advances Previously Made 79,602.11
Recovery of Reimbursements Previously Deemed Non-Recoverable 0.00
Prepayment Penalties Number of Loans with Respect to which Prepayment Penalties were Collected 73
Balance of Loans with Respect to which Prepayment Penalties were Collected 3,137,488.32
Amount of Prepayment Penalties distributed to the Class P Certificates 140,068.80
Sec. 4.06(a)(iv) Beginning Number of Loans Outstanding 10,640
Beginning Aggregate Loan Balance 432,470,504.33
Ending Number of Loans Outstanding 10,382
Ending Aggregate Loan Balance 419,850,394.86
Sec. 4.06(a)(v) Servicing Fees including Credit Risk Manager Fee and FSA Premium 212,623.39
Trustee Fee (Total) 1,982.16
Sec. 4.06(a)(vii) Servicer Advances 3,569,768.84
Cumulative Servicer Advances 4,115,214.52
Sec 4.06(a)(viii)(A) Delinquent Mortgage Loans
Group Totals
Principal
Category Number Balance Percentage
1 Month 137 6,260,940.81 1.49 %
2 Month 63 2,479,973.61 0.59 %
3 Month 63 2,675,549.22 0.64 %
Total 263 11,416,463.64 2.72 %
* Delinquent Bankruptcies are included in the table above.
Bankruptcies
Group Totals
Principal
Number Balance Percentage
31 1,094,236.65 0.26 %
* Only Current Bankruptcies are reflected in the table above.
Balance of Bankruptcies delinquent 31 to 60 days 51,055.01
Section 4.06(a)(viii)(B) Foreclosures
Group Totals
Principal
Number Balance Percentage
6 521,167.57 0.12 %
Section 4.06(a)(xi) REO Properties
Group Totals
Principal
Number Balance Percentage
0 0.00 0.00%
Section 4.06(a)(xii) Current Realized Losses 1,347,165.86
Cumulative Realized Losses 1,614,978.95
Sec. 4.06(a)(xiv) Amount on Deposit in Pre-Funding Account 0.00
Capitalized Interest Requirement 0.00
Sec. 4.06(a)(xiv) Amount of Insured Payment 0.00
Trigger Event Trigger Event Occurrence (Is Rolling 3
Month Delinquency Rate > 15.5% of Sr. Enhancement%?) NO
Rolling 3 Month Delinquency Rate 1.36588 %
Sr. Enhancement Percentage x 15.5% 3.84562 %
Group 2 O/C Reporting Targeted Overcollateralization Amount 17,437,507.50
Ending Overcollateralization Amount 10,166,797.02
Ending Overcollateralization Deficiency 7,270,710.48
Overcollateralization Release Amount 0.00
Monthly Excess Interest 2,858,630.21
Payment to Class X-1 14.03