UNITED STATES
                       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): January 25, 2002

     BEAR STEARNS ASSET BACKED  SECURITIES INC., (as depositor under the Pooling
and Servicing  Agreement,  dated June 1, 2001 providing for the issuance of ABFS
Mortgage Loan Trust 2001-2 Mortgage Pass-Through Certificates, Series 2001-2.)

                    BEAR STEARNS ASSET BACKED SECURITIES INC.
             (Exact name of registrant as specified in its charter)


         Delaware                  333-56242-15                13-3836437
     (State or other          (Commission File Number)       (IRS Employer
     jurisdiction of                                       Identification No.)
     incorporation)


245 Park Avenue
New York, New York                                               10167
(Address of principal executive offices)                       (Zip Code)


       Registrant's telephone number, including area code : (212) 272-4095

                                       N/A
         (Former name or former address, if changed since last report.)


<page>



Item 5.    Other Events.

     This  report  and  the  attached  exhibits  are  being  filed  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,  with respect
to the  Registrant's  ABFS  Mortgage  Loan Trust  2001-2  Mortgage  Pass-Through
Certificates, Series 2001-2 (the "Certificates").  The Certificates were issued,
and this  report and  exhibits  are being  filed,  pursuant  to the terms of the
Pooling and Servicing  Agreement,  dated as of June 1, 2001 ( the  "Agreement"),
among Bear Stearns Asset Backed Securities Inc., as Depositor, American Business
Credit Inc., as Servicer,  and JPMorgan  Chase Bank,  as Trustee and  Collateral
Agent.

     On January 25, 2002, February 25, 2002, March 25, 2002, April 25, 2002, May
28, 2002, and June 25, 2002 distributions  were made to the  Certificateholders.
Specific  information  with respect to these  distributions is filed as Exhibits
99.1, 99.2, 99.3, 99.4, 99.5 and 99.6.

     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 exhibit is filed as part of this report:

       Statement to Certificateholders on January 25, 2002 as Exhibit 99.1.

       Statement to Certificateholders on February 25, 2002 as Exhibit 99.2.

       Statement to Certificateholders on March 25, 2002 as Exhibit 99.3.

       Statement to Certificateholders on April 25, 2002 as Exhibit 99.4.

       Statement to Certificateholders on May 28, 2002 as Exhibit 99.5.

       Statement to Certificateholders on June 25, 2002 as Exhibit 99.6.


                                      -2-

<page>


BEAR STEARNS ASSET BACKED SECURITIES INC.
ABFS Mortgage Loan Trust 2001-2
Mortgage Pass-Through Certificates, Series 2001-2
- -------------------------------------------------------------------------------

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 and Collateral Agent under the
                                     Agreement referred to herein



Date:  January 2, 2003               By: /s/ Jennifer H McCourt
                                        -----------------------------
                                            Jennifer H McCourt
                                            Vice President






                                      -3-
<page>



                                  Exhibit 99.1


                        ABFS MORTGAGE LOAN TRUST 2001-2
                        STATEMENT TO CERTIFICATEHOLDERS
                                 January  25, 2002

<table>

<s>       <c>       <c>
- -----------------------------------------------------------------------------------------------------------------------------------
                                             DISTRIBUTION IN DOLLARS
- -----------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL         BEGINNING                                                                                   ENDING
               FACE         PRINCIPAL                                                      REALIZED     DEFERRED      PRINCIPAL
CLASS         VALUE          BALANCE          PRINCIPAL        INTEREST        TOTAL         LOSSES       INTEREST      BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
A1        275,000,000.00    257,246,845.07   5,359,597.13    1,359,120.83      6,718,717.96    0.00       0.00     251,887,247.94
A2         32,798,000.00     26,467,686.72   3,145,905.55       45,656.76      3,191,562.31    0.00       0.00      23,321,781.17
A3         23,278,000.00     23,278,000.00           0.00      112,898.30        112,898.30    0.00       0.00      23,278,000.00
A4         23,924,000.00     23,924,000.00           0.00      139,357.30        139,357.30    0.00       0.00      23,924,000.00
TOTALS    355,000,000.00    330,916,531.79   8,505,502.68    1,657,033.19     10,162,535.87    0.00       0.00     322,411,029.11

AIO        35,500,000.00     35,500,000.00           0.00      236,666.67        236,666.67    0.00       0.00      35,500,000.00
X                   0.00              0.00           0.00            0.00              0.00    0.00       0.00               0.00
R                   0.00              0.00           0.00            0.00              0.00    0.00       0.00               0.00
- ---------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------
             FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ------------------------------------------------------------------------------------------------------

                                 BEGINNING                                                       ENDING
CLASS          CUSIP             PRINCIPAL       PRINCIPAL        INTEREST        TOTAL        PRINCIPAL
- -------------------------------------------------------------------------------------------------------
A1       00079CAB5      935.44307298      19.48944411     4.94225756    24.43170167       915.95362887
A2       00079CAC3      806.99087505      95.91760321     1.39205927    97.30966248       711.07327185
A3       00079CAD1    1,000.00000000       0.00000000     4.85000000     4.85000000     1,000.00000000
A4       00079CAE9    1,000.00000000       0.00000000     5.82500000     5.82500000     1,000.00000000
TOTALS                  932.15924448      23.95916248     4.66769913    28.62686161       908.20008200
AIO      00079CAF6    1,000.00000000       0.00000000     6.66666676     6.66666676     1,000.00000000
- --------------------------------------------------------------------------------------------------------


- --------------------------------------------------
            PASS-THROUGH RATES
- --------------------------------------------------
 CLASS    PREVIOUS         CURRENT        NEXT
 -------------------------------------------------
A1      6.340000 %   6.340000 %       6.340000 %
A2      3.890000 %   3.932500 %       0.000000 %
A3      5.820000 %   5.820000 %       5.820000 %
A4      6.990000 %   6.990000 %       6.990000 %
AIO     8.000000 %   8.000000 %       8.000000 %
- --------------------------------------------------


IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
- -------------------------------------------------------------------------------


Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.





IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
- -------------------------------------------------------------------------------


Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

<page>


                                  Exhibit 99.2


                        ABFS MORTGAGE LOAN TRUST 2001-2
                        STATEMENT TO CERTIFICATEHOLDERS
                                 February 25, 2002

- -----------------------------------------------------------------------------------------------------------------------------------
                                             DISTRIBUTION IN DOLLARS
- -----------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL         BEGINNING                                                                                   ENDING
               FACE         PRINCIPAL                                                      REALIZED     DEFERRED      PRINCIPAL
CLASS         VALUE          BALANCE          PRINCIPAL        INTEREST        TOTAL         LOSSES       INTEREST      BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
A1       275,000,000.00    251,887,247.94  8,151,679.82   1,330,804.29   9,482,484.11        0.00       0.00      243,735,568.12
A2        32,798,000.00     23,321,781.17  2,385,842.32      38,157.03   2,423,999.35        0.00       0.00       20,935,938.85
A3        23,278,000.00     23,278,000.00          0.00     112,898.30     112,898.30        0.00       0.00       23,278,000.00
A4        23,924,000.00     23,924,000.00          0.00     139,357.30     139,357.30        0.00       0.00       23,924,000.00
TOTALS   355,000,000.00    322,411,029.11 10,537,522.14   1,621,216.92  12,158,739.06        0.00       0.00      311,873,506.97

AIO       35,500,000.00     35,500,000.00          0.00     236,666.67     236,666.67        0.00       0.00       35,500,000.00
X                  0.00              0.00          0.00           0.00           0.00        0.00       0.00                0.00
R                  0.00              0.00          0.00           0.00           0.00        0.00       0.00                0.00
- ----------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------
             FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ------------------------------------------------------------------------------------------------------

                            BEGINNING                                                           ENDING
CLASS          CUSIP        PRINCIPAL       PRINCIPAL        INTEREST        TOTAL            PRINCIPAL
- -------------------------------------------------------------------------------------------------------
A1       00079CAB5       915.95362887      29.64247207    4.83928833      34.48176040       886.31115680
A2       00079CAC3       711.07327185      72.74353070    1.16339502      73.90692573       638.32974114
A3       00079CAD1     1,000.00000000       0.00000000    4.85000000       4.85000000     1,000.00000000
A4       00079CAE9     1,000.00000000       0.00000000    5.82500000       5.82500000     1,000.00000000
TOTALS                                    908.20008200   29.68316096       4.56680823        34.24996918
         00079CAF6
AIO                     1,000.00000000      0.00000000    6.66666676       6.66666676     1,000.00000000
- ---------------------------------------------------------------------------------------------------------


- --------------------------------------------------
            PASS-THROUGH RATES
- --------------------------------------------------
 CLASS    PREVIOUS         CURRENT        NEXT
 -------------------------------------------------
A1      6.340000 %   6.340000 %       6.340000 %
A2      3.890000 %   3.932500 %       0.000000 %
A3      5.820000 %   5.820000 %       5.820000 %
A4      6.990000 %   6.990000 %       6.990000 %
AIO     8.000000 %   8.000000 %       8.000000 %
- --------------------------------------------------


IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
- -------------------------------------------------------------------------------


Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.


<page>

                                  Exhibit 99.3

                        ABFS MORTGAGE LOAN TRUST 2001-2
                        STATEMENT TO CERTIFICATEHOLDERS
                                 March 25, 2002


- -----------------------------------------------------------------------------------------------------------------------------------
                                             DISTRIBUTION IN DOLLARS
- -----------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL         BEGINNING                                                                               ENDING
               FACE         PRINCIPAL                                                  REALIZED     DEFERRED      PRINCIPAL
CLASS         VALUE          BALANCE          PRINCIPAL    INTEREST        TOTAL         LOSSES       INTEREST      BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
A1       275,000,000.00   243,735,568.12   5,926,952.09   1,287,736.25  7,214,688.34     0.00       0.00        237,808,616.03
A2        32,798,000.00    20,935,938.85   2,387,876.81      32,404.18  2,420,280.99     0.00       0.00         18,548,062.04
A3        23,278,000.00    23,278,000.00           0.00     112,898.30    112,898.30     0.00       0.00         23,278,000.00
A4        23,924,000.00    23,924,000.00           0.00     139,357.30    139,357.30     0.00       0.00         23,924,000.00
TOTALS   355,000,000.00   311,873,506.97   8,314,828.90   1,572,396.03  9,887,224.93     0.00       0.00        303,558,678.07

AIO       35,500,000.00    35,500,000.00           0.00     236,666.67    236,666.67     0.00       0.00         35,500,000.00
X                  0.00             0.00           0.00           0.00          0.00     0.00       0.00                  0.00
R                  0.00             0.00           0.00           0.00          0.00     0.00       0.00                  0.00
- ---------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------
             FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ------------------------------------------------------------------------------------------------------

                            BEGINNING                                                           ENDING
CLASS          CUSIP        PRINCIPAL       PRINCIPAL        INTEREST        TOTAL            PRINCIPAL
- -------------------------------------------------------------------------------------------------------
A1       00079CAB5     886.31115680      21.55255305    4.68267727     26.23523033          864.75860375
A2       00079CAC3     638.32974114      72.80556162    0.98799256     73.79355418          565.52417952
A3       00079CAD1   1,000.00000000       0.00000000    4.85000000      4.85000000        1,000.00000000
A4       00079CAE9   1,000.00000000       0.00000000    5.82500000      5.82500000        1,000.00000000
TOTALS                 878.51692104      23.42205324    4.42928459     27.85133783          855.09486780
         00079CAF6
AIO                  1,000.00000000       0.00000000    6.66666676      6.66666676        1,000.00000000
- ---------------------------------------------------------------------------------------------------------


- --------------------------------------------------
            PASS-THROUGH RATES
- --------------------------------------------------
 CLASS    PREVIOUS         CURRENT        NEXT
 -------------------------------------------------
A1      6.340000 %   6.340000 %       6.340000 %
A2      3.890000 %   3.932500 %       0.000000 %
A3      5.820000 %   5.820000 %       5.820000 %
A4      6.990000 %   6.990000 %       6.990000 %
AIO     8.000000 %   8.000000 %       8.000000 %
- --------------------------------------------------


IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
- -------------------------------------------------------------------------------


Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

<page>

                                  Exhibit 99.4

                        ABFS MORTGAGE LOAN TRUST 2001-2
                        STATEMENT TO CERTIFICATEHOLDERS
                                 April 25, 2002

- -----------------------------------------------------------------------------------------------------------------------------------
                                             DISTRIBUTION IN DOLLARS
- -----------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL         BEGINNING                                                                                   ENDING
               FACE         PRINCIPAL                                                      REALIZED     DEFERRED      PRINCIPAL
CLASS         VALUE          BALANCE          PRINCIPAL        INTEREST        TOTAL         LOSSES       INTEREST      BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
A1        275,000,000.00   237,808,616.03   6,886,813.00    1,256,422.19      8,143,235.19     0.00       0.00     230,921,803.03
A2         32,798,000.00    18,548,062.04   2,273,518.97       32,582.76      2,306,101.73     0.00       0.00      16,274,543.07
A3         23,278,000.00    23,278,000.00           0.00      112,898.30        112,898.30     0.00       0.00      23,278,000.00
A4         23,924,000.00    23,924,000.00           0.00      139,357.30        139,357.30     0.00       0.00      23,924,000.00
TOTALS    355,000,000.00   303,558,678.07   9,160,331.97    1,541,260.55     10,701,592.52     0.00       0.00     294,398,346.10

AIO        35,500,000.00    35,500,000.00           0.00      236,666.67        236,666.67     0.00       0.00      35,500,000.00
X                   0.00             0.00           0.00            0.00              0.00     0.00       0.00               0.00
R                   0.00             0.00           0.00            0.00              0.00     0.00       0.00               0.00
- ---------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------
             FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ------------------------------------------------------------------------------------------------------

                            BEGINNING                                                           ENDING
CLASS          CUSIP        PRINCIPAL       PRINCIPAL        INTEREST        TOTAL            PRINCIPAL
- -------------------------------------------------------------------------------------------------------
A1          00079CAB5    864.75860375     25.04295636      4.56880796     29.61176433          839.71564738
A2          00079CAC3    565.52417952     69.31882950      0.99343740     70.31226691          496.20535002
A3          00079CAD1  1,000.00000000      0.00000000      4.85000000      4.85000000        1,000.00000000
A4          00079CAE9  1,000.00000000      0.00000000      5.82500000      5.82500000        1,000.00000000
TOTALS                   855.09486780     25.80375203      4.34157901     30.14533104          829.29111577
            00079CAF6
AIO                    1,000.00000000      0.00000000      6.66666676      6.66666676        1,000.00000000
- ---------------------------------------------------------------------------------------------------------


- --------------------------------------------------
            PASS-THROUGH RATES
- --------------------------------------------------
 CLASS    PREVIOUS         CURRENT        NEXT
 -------------------------------------------------
A1      6.340000 %   6.340000 %       6.340000 %
A2      3.890000 %   3.932500 %       0.000000 %
A3      5.820000 %   5.820000 %       5.820000 %
A4      6.990000 %   6.990000 %       6.990000 %
AIO     8.000000 %   8.000000 %       8.000000 %
- --------------------------------------------------


IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
- -------------------------------------------------------------------------------


Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

<page>

                                  Exhibit 99.5

                        ABFS MORTGAGE LOAN TRUST 2001-2
                        STATEMENT TO CERTIFICATEHOLDERS
                                 May 28, 2002

- -----------------------------------------------------------------------------------------------------------------------------------
                                             DISTRIBUTION IN DOLLARS
- -----------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL         BEGINNING                                                                                   ENDING
               FACE         PRINCIPAL                                                      REALIZED     DEFERRED      PRINCIPAL
CLASS         VALUE          BALANCE          PRINCIPAL        INTEREST        TOTAL         LOSSES       INTEREST      BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
A1       275,000,000.00   230,921,803.03     9,515,947.50   1,220,036.86   10,735,984.36     0.00       0.00     221,405,855.53
A2        32,798,000.00    16,274,543.07     3,073,020.80      29,687.48    3,102,708.28     0.00       0.00      13,201,522.27
A3        23,278,000.00    23,278,000.00             0.00     112,898.30      112,898.30     0.00       0.00      23,278,000.00
A4        23,924,000.00    23,924,000.00             0.00     139,357.30      139,357.30     0.00       0.00      23,924,000.00
TOTALS   355,000,000.00   294,398,346.10    12,588,968.30   1,501,979.94   14,090,948.24     0.00       0.00     281,809,377.80

AIO       35,500,000.00    35,500,000.00             0.00     236,666.67      236,666.67     0.00       0.00      35,500,000.00
X                  0.00             0.00             0.00           0.00            0.00     0.00       0.00               0.00
R                  0.00             0.00             0.00           0.00            0.00     0.00       0.00               0.00
- ---------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------
             FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ------------------------------------------------------------------------------------------------------

                            BEGINNING                                                           ENDING
CLASS          CUSIP        PRINCIPAL       PRINCIPAL        INTEREST        TOTAL            PRINCIPAL
- -------------------------------------------------------------------------------------------------------
A1          00079CAB5        839.71564738    34.60344545    4.43649767    39.03994313          805.11220193
A2          00079CAC3        496.20535002    93.69537167    0.90516129    94.60053296          402.50997835
A3          00079CAD1      1,000.00000000     0.00000000    4.85000000     4.85000000        1,000.00000000
A4          00079CAE9      1,000.00000000     0.00000000    5.82500000     5.82500000        1,000.00000000
TOTALS                       829.29111577    35.46188254    4.23092941    39.69281194          793.82923324
            00079CAF6
AIO                        1,000.00000000     0.00000000    6.66666676     6.66666676        1,000.00000000
- ---------------------------------------------------------------------------------------------------------


- --------------------------------------------------
            PASS-THROUGH RATES
- --------------------------------------------------
 CLASS    PREVIOUS         CURRENT        NEXT
 -------------------------------------------------
A1      6.340000 %   6.340000 %       6.340000 %
A2      3.890000 %   3.932500 %       0.000000 %
A3      5.820000 %   5.820000 %       5.820000 %
A4      6.990000 %   6.990000 %       6.990000 %
AIO     8.000000 %   8.000000 %       8.000000 %
- --------------------------------------------------


IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
- -------------------------------------------------------------------------------


Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

<page>

                                  Exhibit 99.6


                        ABFS MORTGAGE LOAN TRUST 2001-2
                        STATEMENT TO CERTIFICATEHOLDERS
                                 June 25, 2002

- -----------------------------------------------------------------------------------------------------------------------------------
                                             DISTRIBUTION IN DOLLARS
- -----------------------------------------------------------------------------------------------------------------------------------
           ORIGINAL         BEGINNING                                                                                ENDING
               FACE         PRINCIPAL                                                   REALIZED     DEFERRED      PRINCIPAL
CLASS         VALUE          BALANCE          PRINCIPAL        INTEREST        TOTAL      LOSSES       INTEREST      BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
A1       275,000,000.00  221,405,855.53   8,818,663.06   1,169,760.94   9,988,424.00       0.00       0.00     212,587,192.47
A2        32,798,000.00   13,201,522.27   2,458,034.12      20,330.34   2,478,364.46       0.00       0.00      10,743,488.15
A3        23,278,000.00   23,278,000.00           0.00     112,898.30     112,898.30       0.00       0.00      23,278,000.00
A4        23,924,000.00   23,924,000.00           0.00     139,357.30     139,357.30       0.00       0.00      23,924,000.00
TOTALS   355,000,000.00  281,809,377.80  11,276,697.18   1,442,346.88  12,719,044.06       0.00       0.00     270,532,680.62

AIO       35,500,000.00   35,500,000.00           0.00     236,666.67     236,666.67       0.00       0.00      35,500,000.00
X                  0.00            0.00           0.00           0.00           0.00       0.00       0.00               0.00
R                  0.00            0.00           0.00           0.00           0.00       0.00       0.00               0.00
- ---------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------
             FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE
- ------------------------------------------------------------------------------------------------------

                            BEGINNING                                                           ENDING
CLASS          CUSIP        PRINCIPAL       PRINCIPAL        INTEREST        TOTAL            PRINCIPAL
- -------------------------------------------------------------------------------------------------------
A1          00079CAB5     805.11220193    32.06786567    4.25367615     36.32154182          773.04433625
A2          00079CAC3     402.50997835    74.94463443    0.61986524     75.56449966          327.56534392
A3          00079CAD1   1,000.00000000     0.00000000    4.85000000      4.85000000        1,000.00000000
A4          00079CAE9   1,000.00000000     0.00000000    5.82500000      5.82500000        1,000.00000000
TOTALS                    793.82923324    31.76534417    4.06294896     35.82829313          762.06388907
            00079CAF6
AIO                     1,000.00000000     0.00000000    6.66666676      6.66666676        1,000.00000000
- ---------------------------------------------------------------------------------------------------------


- --------------------------------------------------
            PASS-THROUGH RATES
- --------------------------------------------------
 CLASS    PREVIOUS         CURRENT        NEXT
 -------------------------------------------------
A1      6.340000 %   6.340000 %       6.340000 %
A2      3.890000 %   3.932500 %       0.000000 %
A3      5.820000 %   5.820000 %       5.820000 %
A4      6.990000 %   6.990000 %       6.990000 %
AIO     8.000000 %   8.000000 %       8.000000 %
- --------------------------------------------------


IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

- -------------------------------------------------------------------------------
                              Joseph M. Costantino
               JPMorgan Chase Bank - Structured Finance Services
                          4 New York Plaza, 6th floor
                            New York, New York 10004
                    Tel: 212 623-5435 / Fax: 212 623-5931
                    Email: Joseph.M.Costantino@JPMorgan.com
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Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.