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): March 25, 2002
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset Backed Certificates, Series 2001-AC1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law 333-56242-02
Pooling and Servicing Ag (Commissio PENDING
(State or other File Numbe IRS EIN
jurisdiction
of Incorporation)
c/o Wells Fargo Bank Minnesota, N.A.,
11000 Broken Land Parkway
Columbia, MD 21044
(Address of principal executive (Zip Code
Registrant's telephone number, including area code:
Former name or former address, if changed since last
ITEM 5. Other Events
On March 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET
BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2001-AC1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Num Description
EX 99.1 Monthly report distributed to
holders of Asset Backed
Certificates, Series 2001-AC1
Trust, relating to the March
25, 2002 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused ths report to be signed on its behalf by the
undersigned hereunto duly authorized.
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Mortgage Pass-Through Certificates, Series 2001-AC1 Trust
By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date 4/2/02
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holder of Asset
Backed Certificates, Series 2001-AC1 Trust,
relating to the March 25, 2002 distribution.
EX-99.1
Bear Stearns Asset Backed Securities
Mortgage Pass-Through Certificates
Record Date: 2/28/02
Distribution Dat 3/25/02
BSA Series: 2001-AC1
Contact: Customer Service - CTSLink
Wells Fargo Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificat Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A-IO 07384YA IO 8.00000% 0.00 161,333.33 0.00
I-A1 07384YA SEN 2.00000% 27,347,855.27 42,541.11 3,247,456.28
I-A2 07384YA SEN 5.64000% 40,056,000.00 188,263.20 0.00
I-A3 07384YA SEN 6.35000% 16,107,000.00 85,232.87 0.00
I-A4 07384YA SEN 6.90000% 24,405,000.00 140,328.75 0.00
I-A5 07384YA SEN 7.43000% 13,250,000.00 82,039.58 0.00
II-A 07384YA SEN 7.00000% 81,625,472.76 476,148.59 2,715,076.90
M-1 07384YA SUB 6.85000% 4,841,000.00 27,634.04 0.00
M-2 07384YA SUB 7.00000% 4,236,000.00 24,710.00 0.00
B 07384YA SUB 7.00000% 3,025,000.00 17,645.83 0.00
B-IO BSA1ACB IO 0.00000% 605,159.64 276,402.06 0.00
P BSA01AC SUB 0.00000% 100.00 8,727.80 0.00
R-1 BSA01AC RES 0.00000% 0.00 0.00 0.00
R-2 BSA01AC RES 0.00000% 0.00 0.00 0.00
R-3 BSA01AC RES 0.00000% 0.00 0.00 0.00
Totals 215,498,587.67 1,531,007.16 5,962,533.18
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-IO 0.00 0.00 161,333.33 0.00
I-A1 0.00 24,100,398.99 3,289,997.39 0.00
I-A2 0.00 40,056,000.00 188,263.20 0.00
I-A3 0.00 16,107,000.00 85,232.87 0.00
I-A4 0.00 24,405,000.00 140,328.75 0.00
I-A5 0.00 13,250,000.00 82,039.58 0.00
II-A 0.00 78,910,395.86 3,191,225.49 0.00
M-1 0.00 4,841,000.00 27,634.04 0.00
M-2 0.00 4,236,000.00 24,710.00 0.00
B 0.00 3,025,000.00 17,645.83 0.00
B-IO 0.00 605,159.64 276,402.06 0.00
P 0.00 100.00 8,727.80 0.00
R-1 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
Totals 0.00 209,536,054.49 7,493,540.34 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distributio Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
I-A1 38,552,000.00 27,347,855.27 0.00 3,247,456.28 0.00 0.00
I-A2 40,056,000.00 40,056,000.00 0.00 0.00 0.00 0.00
I-A3 16,107,000.00 16,107,000.00 0.00 0.00 0.00 0.00
I-A4 24,405,000.00 24,405,000.00 0.00 0.00 0.00 0.00
I-A5 13,250,000.00 13,250,000.00 0.00 0.00 0.00 0.00
II-A 97,591,000.00 81,625,472.76 0.00 2,715,076.90 0.00 0.00
M-1 4,841,000.00 4,841,000.00 0.00 0.00 0.00 0.00
M-2 4,236,000.00 4,236,000.00 0.00 0.00 0.00 0.00
B 3,025,000.00 3,025,000.00 0.00 0.00 0.00 0.00
B-IO 756.67 605,159.64 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00 0.00
Totals 242,063,856.67 215,498,587.67 0.00 5,962,533.18 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-IO 0.00 0.00 0.00000000 0.00
I-A1 3,247,456.28 24,100,398.99 0.62514004 3,247,456.28
I-A2 0.00 40,056,000.00 1.00000000 0.00
I-A3 0.00 16,107,000.00 1.00000000 0.00
I-A4 0.00 24,405,000.00 1.00000000 0.00
I-A5 0.00 13,250,000.00 1.00000000 0.00
II-A 2,715,076.90 78,910,395.86 0.80858272 2,715,076.90
M-1 0.00 4,841,000.00 1.00000000 0.00
M-2 0.00 4,236,000.00 1.00000000 0.00
B 0.00 3,025,000.00 1.00000000 0.00
B-IO 0.00 605,159.64 799.76692614 0.00
P 0.00 100.00 1.00000000 0.00
R-1 0.00 0.00 0.00000000 0.00
R-2 0.00 0.00 0.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
Totals 5,962,533.18 209,536,054.49 0.86562305 5,962,533.18
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2 Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
I-A1 38,552,000.00 709.37578517 0.00000000 84.23574082 0.00000000
I-A2 40,056,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A3 16,107,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A4 24,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A5 13,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A 97,591,000.00 836.40369255 0.00000000 27.82097632 0.00000000
M-1 4,841,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 4,236,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 3,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-IO 756.67 799766.926136 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
Per $1,000 denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
I-A1 0.00000000 84.23574082 625.14004436 0.62514004 84.23574082
I-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A 0.00000000 27.82097632 808.58271623 0.80858272 27.82097632
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-IO 0.00000000 0.00000000 799,766.92613689 799.76692614 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificat Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-IO 0.00 8.00000% 24,200,000.00 161,333.33 0.00 0.00
I-A1 38,552,000.00 2.00000% 0.00 42,541.11 0.00 0.00
I-A2 40,056,000.00 5.64000% 0.00 188,263.20 0.00 0.00
I-A3 16,107,000.00 6.35000% 0.00 85,232.88 0.00 0.00
I-A4 24,405,000.00 6.90000% 0.00 140,328.75 0.00 0.00
I-A5 13,250,000.00 7.43000% 0.00 82,039.58 0.00 0.00
II-A 97,591,000.00 7.00000% 0.00 476,148.59 0.00 0.00
M-1 4,841,000.00 6.85000% 0.00 27,634.04 0.00 0.00
M-2 4,236,000.00 7.00000% 0.00 24,710.00 0.00 0.00
B 3,025,000.00 7.00000% 0.00 17,645.83 0.00 0.00
B-IO 756.67 0.00000% 0.00 0.00 0.00 0.00
P 100.00 0.00000% 0.00 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
R-2 0.00 0.00000% 0.00 0.00 0.00 0.00
R-3 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 242,063,856.67 1,245,877.31 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-IO 0.00 0.00 161,333.33 0.00 24,200,000.00
I-A1 0.00 0.00 42,541.11 0.00 0.00
I-A2 0.00 0.00 188,263.20 0.00 0.00
I-A3 0.00 0.00 85,232.87 0.00 0.00
I-A4 0.00 0.00 140,328.75 0.00 0.00
I-A5 0.00 0.00 82,039.58 0.00 0.00
II-A 0.00 0.00 476,148.59 0.00 0.00
M-1 0.00 0.00 27,634.04 0.00 0.00
M-2 0.00 0.00 24,710.00 0.00 0.00
B 0.00 0.00 17,645.83 0.00 0.00
B-IO 0.00 0.00 276,402.06 0.00 0.00
P 0.00 0.00 8,727.80 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,531,007.16 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclo
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-IO 0.00 8.00000% 1000.00000000 6.66666653 0.00000000 0.00000000
I-A1 38,552,000.00 2.00000% 0.00000000 1.10347349 0.00000000 0.00000000
I-A2 40,056,000.00 5.64000% 0.00000000 4.70000000 0.00000000 0.00000000
I-A3 16,107,000.00 6.35000% 0.00000000 5.29166698 0.00000000 0.00000000
I-A4 24,405,000.00 6.90000% 0.00000000 5.75000000 0.00000000 0.00000000
I-A5 13,250,000.00 7.43000% 0.00000000 6.19166642 0.00000000 0.00000000
II-A 97,591,000.00 7.00000% 0.00000000 4.87902153 0.00000000 0.00000000
M-1 4,841,000.00 6.85000% 0.00000000 5.70833299 0.00000000 0.00000000
M-2 4,236,000.00 7.00000% 0.00000000 5.83333333 0.00000000 0.00000000
B 3,025,000.00 7.00000% 0.00000000 5.83333223 0.00000000 0.00000000
B-IO 756.67 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All denominations are per $1,000.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-IO 0.00000000 0.00000000 6.66666653 0.00000000 1000.00000000
I-A1 0.00000000 0.00000000 1.10347349 0.00000000 0.00000000
I-A2 0.00000000 0.00000000 4.70000000 0.00000000 0.00000000
I-A3 0.00000000 0.00000000 5.29166636 0.00000000 0.00000000
I-A4 0.00000000 0.00000000 5.75000000 0.00000000 0.00000000
I-A5 0.00000000 0.00000000 6.19166642 0.00000000 0.00000000
II-A 0.00000000 0.00000000 4.87902153 0.00000000 0.00000000
M-1 0.00000000 0.00000000 5.70833299 0.00000000 0.00000000
M-2 0.00000000 0.00000000 5.83333333 0.00000000 0.00000000
B 0.00000000 0.00000000 5.83333223 0.00000000 0.00000000
B-IO 0.00000000 0.00000000 365287.456883 0.00000000 0.00000000
P 0.00000000 0.00000000 87278.0000000 0.00000000 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses U
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,458,509.08
Liquidations, Insurance Proceeds, Reserve Fund 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 78,598.17
Realized Losses 0.00
Prepayment Penalties 0.00
Total Deposits 7,537,107.25
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 43,566.91
Payment of Interest and Principal 7,493,540.34
Total Withdrawals (Pool Distribution Amount) 7,537,107.25
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 1,328.63
Servicing Fee Support 1,328.63
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 44,895.54
Trustee Fee 0.00
Supported Prepayment/Curtailment Interest Shortfa 1,328.63
Net Servicing Fee 43,566.91
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 1 0 0 1
226,065.07 0.00 0.00 226,065.07
30 Days 23 0 0 0 23
4,548,311. 0.00 0.00 0.00 4,548,311.6
60 Days 4 0 0 0 4
642,026.97 0.00 0.00 0.00 642,026.97
90 Days 4 0 0 0 4
726,905.22 0.00 0.00 0.00 726,905.22
120 Days 3 0 0 0 3
629,134.22 0.00 0.00 0.00 629,134.22
150 Days 6 0 0 0 6
2,779,056. 0.00 0.00 0.00 2,779,056.6
180+ Days 4 0 0 0 4
623,513.39 0.00 0.00 0.00 623,513.39
Totals 44 1 0 0 45
9,948,948. 226,065.07 0.00 0.00 10,175,013.
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.087796% 0.000000% 0.000000% 0.087796%
0.107807% 0.000000% 0.000000% 0.107807%
30 Days 2.019315% 0.000000% 0.000000% 0.000000% 2.019315%
2.169030% 0.000000% 0.000000% 0.000000% 2.169030%
60 Days 0.351185% 0.000000% 0.000000% 0.000000% 0.351185%
0.306174% 0.000000% 0.000000% 0.000000% 0.306174%
90 Days 0.351185% 0.000000% 0.000000% 0.000000% 0.351185%
0.346652% 0.000000% 0.000000% 0.000000% 0.346652%
120 Days 0.263389% 0.000000% 0.000000% 0.000000% 0.263389%
0.300026% 0.000000% 0.000000% 0.000000% 0.300026%
150 Days 0.526778% 0.000000% 0.000000% 0.000000% 0.526778%
1.325296% 0.000000% 0.000000% 0.000000% 1.325296%
180+ Days 0.351185% 0.000000% 0.000000% 0.000000% 0.351185%
0.297345% 0.000000% 0.000000% 0.000000% 0.297345%
Totals 3.863038% 0.087796% 0.000000% 0.000000% 3.950834%
4.744523% 0.107807% 0.000000% 0.000000% 4.852330%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 1 0 0 1
226,065.07 0.00 0.00 226,065.07
30 Days 17 0 0 0 17
2,217,868.19 0.00 0.00 0.00 2,217,868.19
60 Days 3 0 0 0 3
283,204.79 0.00 0.00 0.00 283,204.79
90 Days 3 0 0 0 3
331,194.66 0.00 0.00 0.00 331,194.66
120 Days 2 0 0 0 2
317,913.08 0.00 0.00 0.00 317,913.08
150 Days 4 0 0 0 4
566,593.50 0.00 0.00 0.00 566,593.50
180 Days 4 0 0 0 4
623,513.39 0.00 0.00 0.00 623,513.39
Totals 33 1 0 0 34
4,340,287.61 226,065.07 0.00 0.00 4,566,352.68
0-29 Days 0.106610% 0.000000% 0.000000% 0.106610%
0.180632% 0.000000% 0.000000% 0.180632%
30 Days 1.812367% 0.000000% 0.000000% 0.000000% 1.812367%
1.772140% 0.000000% 0.000000% 0.000000% 1.772140%
60 Days 0.319829% 0.000000% 0.000000% 0.000000% 0.319829%
0.226289% 0.000000% 0.000000% 0.000000% 0.226289%
90 Days 0.319829% 0.000000% 0.000000% 0.000000% 0.319829%
0.264634% 0.000000% 0.000000% 0.000000% 0.264634%
120 Days 0.213220% 0.000000% 0.000000% 0.000000% 0.213220%
0.254022% 0.000000% 0.000000% 0.000000% 0.254022%
150 Days 0.426439% 0.000000% 0.000000% 0.000000% 0.426439%
0.452724% 0.000000% 0.000000% 0.000000% 0.452724%
180 Days 0.426439% 0.000000% 0.000000% 0.000000% 0.426439%
0.498205% 0.000000% 0.000000% 0.000000% 0.498205%
Totals 3.518124% 0.106610% 0.000000% 0.000000% 3.624733%
3.468013% 0.180632% 0.000000% 0.000000% 3.648646%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 6 0 0 0 6
2,330,443.47 0.00 0.00 0.00 2,330,443.47
60 Days 1 0 0 0 1
358,822.18 0.00 0.00 0.00 358,822.18
90 Days 1 0 0 0 1
395,710.56 0.00 0.00 0.00 395,710.56
120 Days 1 0 0 0 1
311,221.14 0.00 0.00 0.00 311,221.14
150 Days 2 0 0 0 2
2,212,463.16 0.00 0.00 0.00 2,212,463.16
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 11 0 0 0 11
5,608,660.51 0.00 0.00 0.00 5,608,660.51
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.985075% 0.000000% 0.000000% 0.000000% 2.985075%
2.756573% 0.000000% 0.000000% 0.000000% 2.756573%
60 Days 0.497512% 0.000000% 0.000000% 0.000000% 0.497512%
0.424434% 0.000000% 0.000000% 0.000000% 0.424434%
90 Days 0.497512% 0.000000% 0.000000% 0.000000% 0.497512%
0.468068% 0.000000% 0.000000% 0.000000% 0.468068%
120 Days 0.497512% 0.000000% 0.000000% 0.000000% 0.497512%
0.368129% 0.000000% 0.000000% 0.000000% 0.368129%
150 Days 0.995025% 0.000000% 0.000000% 0.000000% 0.995025%
2.617019% 0.000000% 0.000000% 0.000000% 2.617019%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 5.472637% 0.000000% 0.000000% 0.000000% 5.472637%
6.634223% 0.000000% 0.000000% 0.000000% 6.634223%
<FN>
Delinquencies are stratified according to the information provided by the servider. All 90 day delinquencies reported are actually
90+ day delinquencies.
</FN>
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 78,598.17
COLLATERAL STATEMENT
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 8.726785%
Weighted Average Net Coupon 8.476785%
Weighted Average Pass-Through Rate 8.525386%
Weighted Average Maturity(Stepdown Calculation) 327
Beginning Scheduled Collateral Loan Count 1,166
Number Of Loans Paid In Full 27
Ending Scheduled Collateral Loan Count 1,139
Beginning Scheduled Collateral Balance 215,498,587.67
Ending Scheduled Collateral Balance 209,536,054.49
Ending Actual Collateral Balance at 28-Feb-2002 209,693,326.61
Monthly P &I Constant 1,712,619.14
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 209,536,054.49
Scheduled Principal 145,444.23
Unscheduled Principal 5,817,088.95
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 605,159.64
Overcollateralized Amount 605,159.64
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 285,129.86
Miscellaneous Reporting
3 Month Rolling Delinquency Average 2.481074%
Group Level Collateral Statement
Group Group 1 Group 2 Total
Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year
Weighted Average Coupon Rate 8.809161 8.605561 8.726785
Weighted Average Net Rate 8.559161 8.355560 8.476785
Weighted Average Maturity 321 335 327
Beginning Loan Count 958 208 1,166
Loans Paid In Full 20 7 27
Ending Loan Count 938 201 1,139
Beginning Scheduled Balance 128,308,854.77 87,189,732.90 215,498,587.67
Ending scheduled Balance 125,061,398.49 84,474,656.00 209,536,054.49
Record Date 02/28/2002 02/28/2002 02/28/2002
Principal And Interest Constant 1,030,739.05 681,880.09 1,712,619.14
Scheduled Principal 88,827.91 56,616.32 145,444.23
Unscheduled Principal 3,158,628.37 2,658,460.58 5,817,088.95
Scheduled Interest 950,638.94 625,263.77 1,575,902.71
Servicing Fees 26,731.01 18,164.53 44,895.54
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 923,907.93 607,099.24 1,531,007.17
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 8.640787 8.355560 8.525386