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): April 25, 2002
MADISON AVENUE MANUFACTURED HOUSING CONTRACT TRUST
Asset-Backed Certificates, Series 2002-A Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-56242-06
Pooling and Servicing Agreement) (Commission
(State or other File Number) Pending
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
c/o Wells Fargo Bank Minnesota, N.A.
11000 Broken Land Parkway
Columbia, MD 21044
(Address of principal executive offices) (Zip Code)
Former name or former address, if changed since last report)
ITEM 5. Other Events
On April 25, 2002 a distribution was made to holders of MADISON AVENUE
MANUFACTURED HOUSING CONTRACT TRUST, Asset-Backed Certificates, Series
2002-A Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of
Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to
holders of Asset-Backed
Certificates, Series 2002-A
Trust, relating to the April 25,
2002 distribution.
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.
MADISON AVENUE MANUFACTURED HOUSING CONTRACT TRUST
Asset-Backed Certificates, Series 2002-A Trust
By: Wells Fargo Bank Minnesota, NA, as Trustee
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: 5/1/02
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset
Backed Certificates, Series 2002-A Trust,
relating to the April 25, 2002 distribution.
EX-99.1
Bear Stearns Asset Backed Securities, INC.
Mortgage Pass-Through Certificates
Record Date: 3/31/02
Distribution Date: 4/25/02
MAV Series: 2002-A
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 Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A-1 55660AAA0 SEN 2.25000% 381,329,000.00 667,325.75 3,219,298.48
A-2 55660AAB8 SEN 2.25000% 175,000,000.00 306,250.00 1,982,177.93
A-IO 55660AAC6 SEN 0.30000% 0.00 196,681.86 0.00
M-1 55660AAD4 MEZ 3.35000% 56,897,000.00 148,248.29 0.00
M-2 55660AAE2 MEZ 4.15000% 61,112,000.00 197,255.96 0.00
B-1 55660AAF9 MEZ 5.15000% 59,005,000.00 236,347.81 0.00
B-2 BSAAC2BIO MEZ 5.15000% 59,005,000.00 236,347.81 0.00
HL MAV020AHL JUN 0.00000% 0.00 8,086,848.65 0.00
C MAV0200AC JUN 0.00000% 50,574,269.90 0.00 0.00
R-3 MAV020AR3 JUN 0.00000% 0.00 0.00 0.00
Totals 842,922,269.90 10,075,306.13 5,201,476.41
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 378,109,701.52 3,886,624.23 0.00
A-2 0.00 173,017,822.07 2,288,427.93 0.00
A-IO 0.00 0.00 196,681.86 0.00
M-1 0.00 56,897,000.00 148,248.29 0.00
M-2 0.00 61,112,000.00 197,255.96 0.00
B-1 0.00 59,005,000.00 236,347.81 0.00
B-2 0.00 59,005,000.00 236,347.81 0.00
HL 0.00 0.00 8,086,848.65 0.00
C 0.00 50,574,269.90 0.00 0.00
R-3 0.00 0.00 0.00 0.00
Totals 0.00 837,720,793.49 15,276,782.54 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 381,329,000.00 381,329,000.00 0.00 3,219,298.48 0.00 0.00
A-2 175,000,000.00 175,000,000.00 0.00 1,982,177.93 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
M-1 56,897,000.00 56,897,000.00 0.00 0.00 0.00 0.00
M-2 61,112,000.00 61,112,000.00 0.00 0.00 0.00 0.00
B-1 59,005,000.00 59,005,000.00 0.00 0.00 0.00 0.00
B-2 59,005,000.00 59,005,000.00 0.00 0.00 0.00 0.00
HL 0.00 0.00 0.00 0.00 0.00 0.00
C 50,574,269.90 50,574,269.90 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00 0.00
Totals 842,922,269.90 842,922,269.90 0.00 5,201,476.41 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
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-1 3,219,298.48 378,109,701.52 0.99155769 3,219,298.48
A-2 1,982,177.93 173,017,822.07 0.98867327 1,982,177.93
A-IO 0.00 0.00 0.00000000 0.00
M-1 0.00 56,897,000.00 1.00000000 0.00
M-2 0.00 61,112,000.00 1.00000000 0.00
B-1 0.00 59,005,000.00 1.00000000 0.00
B-2 0.00 59,005,000.00 1.00000000 0.00
HL 0.00 0.00 0.00000000 0.00
C 0.00 50,574,269.90 1.00000000 0.00
R-3 0.00 0.00 0.00000000 0.00
Totals 5,201,476.41 837,720,793.49 0.99382923 5,201,476.41
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-1 381,329,000.00 1000.00000000 0.00000000 8.44231223 0.00000000
A-2 175,000,000.00 1000.00000000 0.00000000 11.32673103 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M-1 56,897,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 61,112,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 59,005,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-2 59,005,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
HL 0.00 0.00000000 0.00000000 0.00000000 0.00000000
C 50,574,269.90 1000.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Classes are 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-1 0.00000000 8.44231223 991.55768777 0.99155769 8.44231223
A-2 0.00000000 11.32673103 988.67326897 0.98867327 11.32673103
A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
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-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
HL 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 1,000.00000000 1.00000000 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 Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 381,329,000.00 2.25000% 381,329,000.00 667,325.75 0.00 0.00
A-2 175,000,000.00 2.25000% 175,000,000.00 306,250.00 0.00 0.00
A-IO 0.00 0.30000% 842,922,270.00 196,681.86 0.00 0.00
M-1 56,897,000.00 3.35000% 56,897,000.00 148,248.29 0.00 0.00
M-2 61,112,000.00 4.15000% 61,112,000.00 197,255.96 0.00 0.00
B-1 59,005,000.00 5.15000% 59,005,000.00 236,347.81 0.00 0.00
B-2 59,005,000.00 5.15000% 59,005,000.00 236,347.81 0.00 0.00
HL 0.00 0.00000% 0.00 0.00 0.00 0.00
C 50,574,269.90 0.00000% 50,574,269.90 0.00 0.00 0.00
R-3 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 842,922,269.90 1,988,457.48 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-1 0.00 0.00 667,325.75 0.00 378,109,701.52
A-2 0.00 0.00 306,250.00 0.00 173,017,822.07
A-IO 0.00 0.00 196,681.86 0.00 837,720,793.49
M-1 0.00 0.00 148,248.29 0.00 56,897,000.00
M-2 0.00 0.00 197,255.96 0.00 61,112,000.00
B-1 0.00 0.00 236,347.81 0.00 59,005,000.00
B-2 0.00 0.00 236,347.81 0.00 59,005,000.00
HL 0.00 0.00 8,086,848.65 0.00 0.00
C 0.00 0.00 0.00 0.00 50,574,269.90
R-3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 10,075,306.13 0.00
<FN>
(4) 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 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-1 381,329,000.00 2.25000% 1000.00000000 1.75000000 0.00000000 0.00000000
A-2 175,000,000.00 2.25000% 1000.00000000 1.75000000 0.00000000 0.00000000
A-IO 0.00 0.30000% 1000.00000000 0.23333333 0.00000000 0.00000000
M-1 56,897,000.00 3.35000% 1000.00000000 2.60555548 0.00000000 0.00000000
M-2 61,112,000.00 4.15000% 1000.00000000 3.22777785 0.00000000 0.00000000
B-1 59,005,000.00 5.15000% 1000.00000000 4.00555563 0.00000000 0.00000000
B-2 59,005,000.00 5.15000% 1000.00000000 4.00555563 0.00000000 0.00000000
HL 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
C 50,574,269.90 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
All Classes are Per 1,000 Denomination
</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-1 0.00000000 0.00000000 1.75000000 0.00000000 991.55768777
A-2 0.00000000 0.00000000 1.75000000 0.00000000 988.67326897
A-IO 0.00000000 0.00000000 0.23333333 0.00000000 993.82923350
M-1 0.00000000 0.00000000 2.60555548 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 3.22777785 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 4.00555563 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 4.00555563 0.00000000 1000.00000000
HL 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
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 Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 16,694,522.01
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (195,650.68)
Prepayment Penalties 0.00
Total Deposits 16,498,871.33
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 1,222,088.79
Payment of Interest and Principal 15,276,782.54
Total Withdrawals (Pool Distribution Amount) 16,498,871.33
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 702,435.36
Backup Servicing Fee - Wells Fargo 14,048.69
Certificate Insurer Premium - Ambac 99,675.61
Trustee Fee 13,512.15
Yield Maintenance Agreement Fee - Bear Stearns 392,416.98
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 1,222,088.79
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Financial Guaranty 0.00 0.00 0.00 0.00
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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 346 0 0 0 346
12,825,045.67 0.00 0.00 0.00 12,825,045.67
60 Days 97 0 0 0 97
3,500,298.17 0.00 0.00 0.00 3,500,298.17
90 Days 53 0 0 43 96
2,103,464.25 0.00 0.00 1,542,786.21 3,646,250.46
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 496 0 0 43 539
18,428,808.09 0.00 0.00 1,542,786.21 19,971,594.30
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 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.563630% 0.000000% 0.000000% 0.000000% 1.563630%
1.530945% 0.000000% 0.000000% 0.000000% 1.530945%
60 Days 0.438359% 0.000000% 0.000000% 0.000000% 0.438359%
0.417836% 0.000000% 0.000000% 0.000000% 0.417836%
90 Days 0.239516% 0.000000% 0.000000% 0.194324% 0.433839%
0.251094% 0.000000% 0.000000% 0.184165% 0.435258%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.241504% 0.000000% 0.000000% 0.194324% 2.435828%
2.199875% 0.000000% 0.000000% 0.184165% 2.384039%
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 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 280 0 0 0 280
10,375,870.81 0.00 0.00 0.00 10,375,870.81
60 Days 75 0 0 0 75
2,656,200.59 0.00 0.00 0.00 2,656,200.59
90 Days 39 0 0 34 73
1,499,863.56 0.00 0.00 1,170,566.14 2,670,429.70
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 394 0 0 34 428
14,531,934.96 0.00 0.00 1,170,566.14 15,702,501.10
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.262261% 0.000000% 0.000000% 0.000000% 2.262261%
2.435416% 0.000000% 0.000000% 0.000000% 2.435416%
60 Days 0.605963% 0.000000% 0.000000% 0.000000% 0.605963%
0.623461% 0.000000% 0.000000% 0.000000% 0.623461%
90 Days 0.315101% 0.000000% 0.000000% 0.274703% 0.589804%
0.352047% 0.000000% 0.000000% 0.274754% 0.626801%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 3.183324% 0.000000% 0.000000% 0.274703% 3.458027%
3.410923% 0.000000% 0.000000% 0.274754% 3.685678%
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 66 0 0 0 66
2,449,174.86 0.00 0.00 0.00 2,449,174.86
60 Days 22 0 0 0 22
844,097.58 0.00 0.00 0.00 844,097.58
90 Days 14 0 0 9 23
603,600.69 0.00 0.00 372,220.07 975,820.76
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 102 0 0 9 111
3,896,873.13 0.00 0.00 372,220.07 4,269,093.20
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.676854% 0.000000% 0.000000% 0.000000% 0.676854%
0.594922% 0.000000% 0.000000% 0.000000% 0.594922%
60 Days 0.225618% 0.000000% 0.000000% 0.000000% 0.225618%
0.205037% 0.000000% 0.000000% 0.000000% 0.205037%
90 Days 0.143575% 0.000000% 0.000000% 0.092298% 0.235873%
0.146619% 0.000000% 0.000000% 0.090415% 0.237034%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.046047% 0.000000% 0.000000% 0.092298% 1.138345%
0.946579% 0.000000% 0.000000% 0.090415% 1.036994%
<FN>
Delinquencies are stratified according to the information the Servicer has provided. All 90+ delinquencies are reported in the 90
day delinquency field.
</FN>
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 489,502.43
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 16.355419%
Weighted Average Net Coupon 15.355419%
Weighted Average Pass-Through Rate 15.330419%
Weighted Average Maturity(Stepdown Calculation ) 304
Beginning Scheduled Collateral Loan Count 22,268
Number Of Loans Paid In Full 140
Ending Scheduled Collateral Loan Count 22,128
Beginning Scheduled Collateral Balance 842,922,269.90
Ending Scheduled Collateral Balance 837,720,793.49
Ending Actual Collateral Balance at 31-Mar-2002 837,720,793.49
Monthly P &I Constant 7,775,185.81
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 195,650.68
Cumulative Realized Loss 195,650.68
Ending Scheduled Balance for Premium Loans 837,720,793.49
Scheduled Principal 1,091,805.01
Unscheduled Principal 4,109,671.40
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 195,650.68
Overcollateralized reduction Amount 0.00
Specified O/C Amount 837,720,793.49
Overcollateralized Amount 50,574,269.90
Overcollateralized Deficiency Amount 195,650.68
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 195,650.68
Excess Cash Amount 195,650.68
Trigger Event Not Triggered
In Effect Since N/A
Comments N/A
Servicer Termination Event Not Triggered
In Effect Since N/A
Comments N/A
Step Down Date Do Not Step Down
In Effect Since N/A
Comments N/A
Yield Maintenance Agreement Amount 0.00
Extraordinary Trust Fund Expense 0.00
Cumulative Insurance Payments received from Ambac 0.00
Adjusted Net WAC Cap Rate 7.4348939892%
Liquidated Contracts 10
Principal Balances of Liquidated Contracts 281,720.79
Please note on page 11 Scheduled Interest figures include .
Servicer advanced funds. .
Trustee Fee on page 6 includes $10,000 for File Review .
Group Level Collateral Statement
Group Group 1 Group 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 17.196649 15.514188 16.355419
Weighted Average Net Rate 16.196649 14.514188 15.355419
Weighted Average Maturity 310 297 304
Beginning Loan Count 12,434 9,834 22,268
Loans Paid In Full 57 83 140
Ending Loan Count 12,377 9,751 22,128
Beginning Scheduled Balance 428,182,416.39 414,739,853.51 842,922,269.90
Ending scheduled Balance 426,041,090.79 411,679,702.70 837,720,793.49
Record Date 03/31/2002 03/31/2002 03/31/2002
Principal And Interest Constant 4,098,187.63 3,676,998.18 7,775,185.81
Scheduled Principal 554,071.78 537,733.23 1,091,805.01
Unscheduled Principal 1,587,253.82 2,522,417.58 4,109,671.40
Scheduled Interest 6,136,085.77 5,361,960.05 11,498,045.82
Servicing Fees 356,818.68 345,616.68 702,435.36
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,784.08 1,728.07 3,512.15
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 7,136.37 6,912.32 14,048.69
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 5,770,346.64 5,007,702.98 10,778,049.62
Realized Loss Amount 119,325.02 76,325.66 195,650.68
Cumulative Realized Loss 119,325.02 76,325.66 195,650.68
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 16.171650 14.489188 15.330419