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) : December 26, 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 December 26, 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 December 26, 2002 is filed as
Exhibit 99.1 hereto.
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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: December 27, 2002 By: /s/ Andreas Auer
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Andreas Auer
Assistant Vice President
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INDEX TO EXHIBITS
Exhibit
Number Description of Exhibits
99.1 Monthly Certificateholder Statement on
December 26, 2002
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Exhibit 99.1
Monthly Certificateholder Statement on December 26, 2002
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<page>
CSFB Mortgage Pass-Through Certificates, Series 2002-S12
Statement to Certificate Holders
December 26, 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 185,500,000.00 140,731,396.44 8,294,707.85 666,363.16 8,961,071.01 0.00 0.00 132,436,688.59
A2 163,000,000.00 123,661,550.52 7,288,611.21 183,156.50 7,471,767.71 0.00 0.00 116,372,939.31
A3 22,500,000.00 17,069,845.92 1,006,096.64 26,752.24 1,032,848.88 0.00 0.00 16,063,749.28
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 85,422.22 85,422.22 0.00 0.00 40,000,000.00
M2 38,500,000.00 38,500,000.00 0.00 110,398.75 110,398.75 0.00 0.00 38,500,000.00
B1A 7,750,000.00 7,750,000.00 0.00 25,893.61 25,893.61 0.00 0.00 7,750,000.00
B1B 7,750,000.00 7,750,000.00 0.00 30,231.46 30,231.46 0.00 0.00 7,750,000.00
P 100.00 100.00 0.00 227,846.92 227,846.92 0.00 0.00 100.00
TOTALS 465,000,200.00 375,462,892.88 16,589,415.70 1,356,064.86 17,945,480.56 0.00 0.00 358,873,477.18
X1 465,000,200.00 390,486,072.78 0.00 5.88 5.88 0.00 0.00 376,160,114.85
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 758.65981908 44.71540620 3.59225423 48.30766043 713.94441288 A1 5.682000 %
A2 22540VL59 758.65981914 44.71540620 1.12365951 45.83906571 713.94441294 A2 1.720000 %
A3 22540VM66 758.65981867 44.71540622 1.18898844 45.90439467 713.94441244 A3 1.820000 %
AR 22540VL67 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 AR 11.883759 %
M1 22540VL75 1,000.00000000 0.00000000 2.13555550 2.13555550 1,000.00000000 M1 2.480000 %
M2 22540VL83 1,000.00000000 0.00000000 2.86750000 2.86750000 1,000.00000000 M2 3.330000 %
B1A 22540VL91 1,000.00000000 0.00000000 3.34111097 3.34111097 1,000.00000000 B1A 3.880000 %
B1B 22540VM25 1,000.00000000 0.00000000 3.90083355 3.90083355 1,000.00000000 B1B 4.530000 %
P 22540VM33 1,000.00000000 0.00000000 ##### ####### 1,000.00000000 P 11.883759 %
TOTALS 807.44673417 35.67614745 2.91626726 38.59241471 771.77058672
X1 22540VM41 839.75463404 0.00000000 0.00001265 0.00001265 808.94613561 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
December 26, 2002
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Sec. 4.06(a)(i) Principal Remittance Amount 13,892,390.72
Scheduled Principal Payments 267,561.98
Principal Prepayments 13,230,959.98
Curtailments 377,775.73
Curtailment Interest Adjustments 2,061.58
Repurchase Principal 0.00
Substitution Amounts 0.00
Net Liquidation Proceeds 0.00
Other Principal Adjustments 93.71
Gross Interest 4,059,742.99
Recoveries From Prior Loss Determinations 13,937.74
Reimbursements of Non-Recoverable Advances Previously Made 41,791.33
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 4,789,024.87
Amount of Prepayment Penalties distributed to the Class P Certificates 227,845.93
Sec. 4.06(a)(iv) Beginning Number of Loans Outstanding 9,744
Beginning Aggregate Loan Balance 390,486,072.78
Ending Number of Loans Outstanding 9,411
Ending Aggregate Loan Balance 376,160,114.85
Sec. 4.06(a)(v) Servicing Fees including Credit Risk Manager Fee and FSA Premium 190,918.02
Trustee Fee (Total) 1,789.73
Sec. 4.06(a)(vii) Servicer Advances 2,222,416.16
Cumulative Servicer Advances 4,536,638.79
Section 4.06(a)(viii)(A) Delinquent Mortgage Loans
Group Totals
Principal
Category Number Balance Percentage
1 Month 166 6,730,144.91 1.79 %
2 Month 85 3,887,301.18 1.03 %
3 Month 185 8,280,445.95 2.20 %
Total 436 18,897,892.04 5.02 %
* Delinquent Bankruptcies are included in the table above.
Bankruptcies
Group Totals
Principal
Number Balance Percentage
51 1,627,533.70 0.43 %
* Only Current Bankruptcies are reflected in the table above.
Balance of Bankruptcies delinquent 31 to 60 days 135,188.36
* Above figure provided for calculation of Rolling Three Month Delinquency Rate.
Section 4.06(a)(viii)(B) Foreclosures
Group Totals
Principal
Number Balance Percentage
6 498,774.01 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 447,504.95
Cumulative Realized Losses 2,746,405.09
Sec. 4.06(a)(xiv) Amount on Deposit in Pre-Funding Account 0.00
Capitalized Interest Requirement 0.00
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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 3.08432 %
Sr. Enhancement Percentage x 15.5% 4.58566 %
OR
(Does Cumulative Loss % of Orig. Agg. Collateral Bal. exceed Cumulative Loss Limit?)
Cumulative Loss % of Original Aggregate Collateral Balance 0.59062 %
Cumulative Loss Limit 6.75000 %
Group 2 O/C Reporting Targeted Overcollateralization Amount 17,437,507.50
Ending Overcollateralization Amount 17,286,637.67
Ending Overcollateralization Deficiency 150,869.83
Overcollateralization Release Amount 0.00
Monthly Excess Interest 2,697,024.98
Payment to Class X-1 5.88