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) : November 25, 2002
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (as Depositor under
the 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
November 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 November 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: November 25, 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
November 25, 2002
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Exhibit 99.1
Monthly Certificateholder Statement on November 25, 2002
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<page>
CSFB Mortgage Pass-Through Certificates, Series 2002-S12
Statement to Certificate Holders
November 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 185,500,000.00 150,148,474.29 9,417,077.85 710,953.03 10,128,030.88 0.00 0.00 140,731,396.44
A2 163,000,000.00 131,936,395.21 8,274,844.69 246,537.81 8,521,382.50 0.00 0.00 123,661,550.52
A3 22,500,000.00 18,212,079.08 1,142,233.16 35,599.56 1,177,832.72 0.00 0.00 17,069,845.92
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 0.00 100,922.22 100,922.22 0.00 0.00 40,000,000.00
M2 38,500,000.00 38,500,000.00 0.00 125,317.50 125,317.50 0.00 0.00 38,500,000.00
B1A 7,750,000.00 7,750,000.00 0.00 28,896.74 28,896.74 0.00 0.00 7,750,000.00
B1B 7,750,000.00 7,750,000.00 0.00 33,234.58 33,234.58 0.00 0.00 7,750,000.00
P 100.00 100.00 0.00 275,444.41 275,444.41 0.00 0.00 100.00
TOTALS 465,000,200.00 394,297,048.58 18,834,155.70 1,556,905.85 20,391,061.55 0.00 0.00 375,462,892.88
X1 465,000,100.00 406,719,096.13 0.00 6.83 6.83 0.00 0.00 390,486,072.78
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 809.42573741 50.76591833 3.83263089 54.59854922 758.65981908 A1 5.682000 %
A2 22540VL59 809.42573748 50.76591834 1.51250190 52.27842025 758.65981914 A2 2.170000 %
A3 22540VM66 809.42573689 50.76591822 1.58220267 52.34812089 758.65981867 A3 2.270000 %
AR 22540VL67 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 11.867110 %
M1 22540VL75 1,000.00000000 0.00000000 2.52305550 2.52305550 1,000.00000000 M1 2.930000 %
M2 22540VL83 1,000.00000000 0.00000000 3.25500000 3.25500000 1,000.00000000 M2 3.780000 %
B1A 22540VL91 1,000.00000000 0.00000000 3.72861161 3.72861161 1,000.00000000 B1A 4.330000 %
B1B 22540VM25 1,000.00000000 0.00000000 4.28833290 4.28833290 1,000.00000000 B1B 4.980000 %
P 22540VM33 1,000.00000000 0.00000000 ## ## 1,000.00000000 P 11.867110 %
TOTALS 847.95027740 40.50354322 3.34818318 43.85172641 807.44673417
X1 22540VM41 874.66453476 0.00000000 0.00001469 0.00001469 839.75481463 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
4 New York Plaza, 6th Floor,
New York, New York 10004
Tel: (212) 623-4507
Fax: (212) 623-5930
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
November 25, 2002
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Sec. 4.06(a)(i) Principal Remittance Amount 16,109,405.27
Scheduled Principal Payments 278,908.69
Principal Prepayments 15,466,282.47
Curtailments 152,928.50
Curtailment Interest Adjustments 435.37
Repurchase Principal 101,390.18
Substitution Amounts 0.00
Net Liquidation Proceeds 54,414.35
Other Principal Adjustments -96.99
Gross Interest 4,223,526.86
Recoveries From Prior Loss Determinations 55,142.70
Reimbursements of Non-Recoverable Advances Previously Made 15,937.35
Recovery of Reimbursements Previously Deemed Non-Recoverable 0.00
Prepayment Penalties Number of Loans with Respect to which Prepayment Penalties were Collected 113
Balance of Loans with Respect to which Prepayment Penalties were Collected 5,705,496.64
Amount of Prepayment Penalties distributed to the Class P Certificates 275,443.42
Sec. 4.06(a)(iv) Beginning Number of Loans Outstanding 10,079
Beginning Aggregate Loan Balance 406,719,096.13
Ending Number of Loans Outstanding 9,744
Ending Aggregate Loan Balance 390,486,072.78
Sec. 4.06(a)(v) Servicing Fees including Credit Risk Manager Fee and FSA Premium 199,512.52
Trustee Fee (Total) 1,864.13
Sec. 4.06(a)(vii) Servicer Advances 2,215,459.70
Cumulative Servicer Advances 4,411,330.15
Section 4.06(a)(viii)(A) Delinquent Mortgage Loans
Group Totals
Principal
Category Number Balance Percentage
1 Month 160 7,121,755.11 1.82 %
2 Month 86 3,206,901.90 0.82 %
3 Month 141 6,464,132.43 1.66 %
Total 387 16,792,789.44 4.30 %
* Delinquent Bankruptcies are included in the table above.
Bankruptcies
Group Totals
Principal
Number Balance Percentage
50 1,670,505.04 0.43 %
* Only Current Bankruptcies are reflected in the table above.
Balance of Bankruptcies delinquent 31 to 60 days 147,422.81
* Above figure provided for calculation of Rolling Three Month Delinquency Rate.
Section 4.06(a)(viii)(B) Foreclosures
Group Totals
Principal
Number Balance Percentage
6 499,051.66 0.13 %
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 178,760.78
Cumulative Realized Losses 2,312,837.88
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 Occurrence (Effective May 2005) NO
(Is Rolling 3 Month Delinquency Rate > 15.5% of Sr. Enhancement%?)
Rolling 3 Month Delinquency Rate 2.34730 %
Sr. Enhancement Percentage x 15.5% 4.32758 %
OR
(Does Cumulative Loss % of Orig. Agg. Collateral Bal. exceed Cumulative Loss Limit?)
Cumulative Loss % of Original Aggregate Collateral Balance 0.49738 %
Cumulative Loss Limit 6.75000 %
Group 2 O/C Reporting Targeted Overcollateralization Amount 17,437,507.50
Ending Overcollateralization Amount 15,023,179.90
Ending Overcollateralization Deficiency 2,414,327.60
Overcollateralization Release Amount 0.00
Monthly Excess Interest 2,724,750.43
Payment to Class X-1 6.83