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): October 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 52-7281894
Pooling and Servicing Agreement) (Commission 52-2365593
(State or other File Number) 52-2365594
jurisdiction 52-2365595
of Incorporation) IRS EIN
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
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On October 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 October
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: 11/7/02
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 October 25, 2002 distribution.
EX-99.1
Bear Stearns Asset Backed Securities, INC.
Mortgage Pass-Through Certificates
Record Date: 9/30/02
Distribution Date: 10/25/02
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 2.16375% 351,126,574.11 633,125.10 3,379,299.94
A-2 55660AAB8 SEN 2.16375% 159,388,070.57 287,396.61 1,605,620.10
A-IO 55660AAC6 SEN 0.30000% 0.00 200,261.01 0.00
M-1 55660AAD4 MEZ 3.26375% 56,897,000.00 154,747.99 0.00
M-2 55660AAE2 MEZ 4.06375% 61,112,000.00 206,953.24 0.00
B-1 55660AAF9 MEZ 5.06375% 59,005,000.00 248,988.81 0.00
B-2 BSAAC2BIO MEZ 5.06375% 59,005,000.00 248,988.81 0.00
HL MAV020AHL JUN 0.00000% 0.00 0.00 0.00
C MAV0200AC JUN 0.00000% 54,510,387.12 0.00 0.00
R-3 MAV020AR3 JUN 0.00000% 0.00 0.00 0.00
Totals 801,044,031.80 1,980,461.57 4,984,920.04
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 347,747,274.17 4,012,425.04 0.00
A-2 0.00 157,782,450.47 1,893,016.71 0.00
A-IO 0.00 0.00 200,261.01 0.00
M-1 0.00 56,897,000.00 154,747.99 0.00
M-2 0.00 61,112,000.00 206,953.24 0.00
B-1 0.00 59,005,000.00 248,988.81 0.00
B-2 0.00 59,005,000.00 248,988.81 0.00
HL 0.00 0.00 0.00 0.00
C 0.00 52,402,397.59 0.00 0.00
R-3 0.00 0.00 0.00 0.00
Totals 0.00 793,951,122.23 6,965,381.61 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-1 381,329,000.00 351,126,574.11 0.00 3,379,299.94 0.00 0.00
A-2 175,000,000.00 159,388,070.57 0.00 1,605,620.10 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 54,510,387.12 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00 0.00 0.00
Totals 842,922,269.90 801,044,031.80 0.00 4,984,920.04 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 3,379,299.94 347,747,274.17 0.91193503 3,379,299.94
A-2 1,605,620.10 157,782,450.47 0.90161400 1,605,620.10
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 52,402,397.59 1.03614739 0.00
R-3 0.00 0.00 0.00000000 0.00
Totals 4,984,920.04 793,951,122.23 0.94190313 4,984,920.04
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-1 381,329,000.00 920.79693417 0.00000000 8.86190125 0.00000000
A-2 175,000,000.00 910.78897469 0.00000000 9.17497200 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 1077.82845363 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 8.86190125 911.93503292 0.91193503 8.86190125
A-2 0.00000000 9.17497200 901.61400269 0.90161400 9.17497200
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 1,036.14738668 1.03614739 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 2.16375% 351,126,574.11 633,125.10 0.00 0.00
A-2 175,000,000.00 2.16375% 159,388,070.57 287,396.61 0.00 0.00
A-IO 0.00 0.30000% 800,974,031.80 200,261.01 0.00 0.00
M-1 56,897,000.00 3.26375% 56,897,000.00 154,747.99 0.00 0.00
M-2 61,112,000.00 4.06375% 61,112,000.00 206,953.24 0.00 0.00
B-1 59,005,000.00 5.06375% 59,005,000.00 248,988.81 0.00 0.00
B-2 59,005,000.00 5.06375% 59,005,000.00 248,988.81 0.00 0.00
HL 0.00 0.00000% 0.00 0.00 0.00 0.00
C 50,574,269.90 0.00000% 54,510,387.12 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 1,980,461.57 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 0.00 633,125.10 0.00 347,747,274.17
A-2 0.00 0.00 287,396.61 0.00 157,782,450.47
A-IO 0.00 0.00 200,261.01 0.00 793,951,122.23
M-1 0.00 0.00 154,747.99 0.00 56,897,000.00
M-2 0.00 0.00 206,953.24 0.00 61,112,000.00
B-1 0.00 0.00 248,988.81 0.00 59,005,000.00
B-2 0.00 0.00 248,988.81 0.00 59,005,000.00
HL 0.00 0.00 0.00 0.00 0.00
C 0.00 0.00 0.00 0.00 52,402,397.59
R-3 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,980,461.57 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 2.16375% 920.79693417 1.66031196 0.00000000 0.00000000
A-2 175,000,000.00 2.16375% 910.78897469 1.64226634 0.00000000 0.00000000
A-IO 0.00 0.30000% 950.23474917 0.23757945 0.00000000 0.00000000
M-1 56,897,000.00 3.26375% 1000.00000000 2.71979173 0.00000000 0.00000000
M-2 61,112,000.00 4.06375% 1000.00000000 3.38645831 0.00000000 0.00000000
B-1 59,005,000.00 5.06375% 1000.00000000 4.21979171 0.00000000 0.00000000
B-2 59,005,000.00 5.06375% 1000.00000000 4.21979171 0.00000000 0.00000000
HL 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
C 50,574,269.90 0.00000% 1077.82845363 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 1.66031196 0.00000000 911.93503292
A-2 0.00000000 0.00000000 1.64226634 0.00000000 901.61400269
A-IO 0.00000000 0.00000000 0.23757945 0.00000000 941.90312735
M-1 0.00000000 0.00000000 2.71979173 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 3.38645831 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 4.21979171 0.00000000 1000.00000000
B-2 0.00000000 0.00000000 4.21979171 0.00000000 1000.00000000
HL 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
C 0.00000000 0.00000000 0.00000000 0.00000000 1036.14738668
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 12,986,536.48
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses (2,246,146.87)
Prepayment Penalties 0.00
Total Deposits 10,740,389.61
Withdrawals
Reimbursement for Servicer Advances 2,606,898.71
Payment of Service Fee 1,168,109.29
Payment of Interest and Principal 6,965,381.61
Total Withdrawals (Pool Distribution Amount) 10,740,389.61
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 667,536.69
Backup Servicing Fee - Wells Fargo 13,350.73
Certificate Insurer Premium - Ambac 91,467.21
Trustee Fee 3,337.68
Yield Maintenance Agreement Fee - Bear Stearns 392,416.98
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 1,168,109.29
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 1,297 0 0 0 1,297
48,482,909.09 0.00 0.00 0.00 48,482,909.09
60 Days 480 0 0 0 480
18,191,410.73 0.00 0.00 0.00 18,191,410.73
90 Days 344 0 0 83 427
13,403,458.33 0.00 0.00 3,089,010.93 16,492,469.26
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 2,121 0 0 83 2,204
80,077,778.15 0.00 0.00 3,089,010.93 83,166,789.08
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 6.178544% 0.000000% 0.000000% 0.000000% 6.178544%
6.106536% 0.000000% 0.000000% 0.000000% 6.106536%
60 Days 2.286585% 0.000000% 0.000000% 0.000000% 2.286585%
2.291251% 0.000000% 0.000000% 0.000000% 2.291251%
90 Days 1.638720% 0.000000% 0.000000% 0.395389% 2.034108%
1.688197% 0.000000% 0.000000% 0.389068% 2.077265%
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 10.103849% 0.000000% 0.000000% 0.395389% 10.499238%
10.085983% 0.000000% 0.000000% 0.389068% 10.475052%
<fn>
Delinquencies are stratified according to the information the Servicer has provided. All 90+ delinquencies
are reported in the 90 day delinquency field.
</fn>
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 957 0 0 0 957
35,184,969.53 0.00 0.00 0.00 35,184,969.53
60 Days 375 0 0 0 375
13,694,642.35 0.00 0.00 0.00 13,694,642.35
90 Days 255 0 0 62 317
9,375,820.45 0.00 0.00 2,319,198.85 11,695,019.30
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 1,587 0 0 62 1,649
58,255,432.33 0.00 0.00 2,319,198.85 60,574,631.18
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 8.137755% 0.000000% 0.000000% 0.000000% 8.137755%
8.740344% 0.000000% 0.000000% 0.000000% 8.740344%
60 Days 3.188776% 0.000000% 0.000000% 0.000000% 3.188776%
3.401904% 0.000000% 0.000000% 0.000000% 3.401904%
90 Days 2.168367% 0.000000% 0.000000% 0.527211% 2.695578%
2.329060% 0.000000% 0.000000% 0.576115% 2.905175%
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 13.494898% 0.000000% 0.000000% 0.527211% 14.022109%
14.471307% 0.000000% 0.000000% 0.576115% 15.047422%
<caption>
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 340 0 0 0 340
13,297,939.56 0.00 0.00 0.00 13,297,939.56
60 Days 105 0 0 0 105
4,496,768.38 0.00 0.00 0.00 4,496,768.38
90 Days 89 0 0 21 110
4,027,637.88 0.00 0.00 769,812.08 4,797,449.96
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 534 0 0 21 555
21,822,345.82 0.00 0.00 769,812.08 22,592,157.90
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 3.682842% 0.000000% 0.000000% 0.000000% 3.682842%
3.397593% 0.000000% 0.000000% 0.000000% 3.397593%
60 Days 1.137348% 0.000000% 0.000000% 0.000000% 1.137348%
1.148914% 0.000000% 0.000000% 0.000000% 1.148914%
90 Days 0.964038% 0.000000% 0.000000% 0.227470% 1.191508%
1.029052% 0.000000% 0.000000% 0.196685% 1.225738%
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 5.784229% 0.000000% 0.000000% 0.227470% 6.011698%
5.575559% 0.000000% 0.000000% 0.196685% 5.772245%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 9.750000%
Weighted Average Net Coupon 8.750000%
Weighted Average Pass-Through Rate 8.723500%
Weighted Average Maturity(Stepdown Calculation ) 280
Beginning Scheduled Collateral Loan Count 21,172
Number Of Loans Paid In Full 180
Ending Scheduled Collateral Loan Count 20,992
Beginning Scheduled Collateral Balance 800,974,031.80
Ending Scheduled Collateral Balance 793,951,122.23
Ending Actual Collateral Balance at 30-Sep-2002 793,951,122.23
Monthly P &I Constant 6,698,068.52
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 2,246,146.87
Cumulative Realized Loss 9,130,763.16
Ending Scheduled Balance for Premium Loans 793,951,122.23
Scheduled Principal 949,953.32
Unscheduled Principal 6,142,956.25
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 793,951,122.23
Overcollateralized Amount 52,402,397.59
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 2,588,600.38
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 6.5720720960%
Group I Liquidated Loan Count 57
Group I Liquidated Loan Balances 2,274,184.55
Group II Liquidated Loan Count 23
Group II Liquidated Loan Balances 877,495.01
Loan Count of Current Period Repossessions 83
Actual Balance of Current Period Repossessions 3,089,010.93
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 10.250000 9.240000 9.750000
Weighted Average Net Rate 9.250000 8.240000 8.750000
Weighted Average Maturity 273 288 280
Beginning Loan Count 11,853 9,319 21,172
Loans Paid In Full 93 87 180
Ending Loan Count 11,760 9,232 20,992
Beginning Scheduled Balance 406,077,623.92 394,966,407.88 801,044,031.80
Ending scheduled Balance 402,558,188.65 391,392,933.58 793,951,122.23
Record Date 09/30/2002 09/30/2002 09/30/2002
Principal And Interest Constant 3,389,153.57 3,308,914.95 6,698,068.52
Scheduled Principal 450,373.95 499,579.37 949,953.32
Unscheduled Principal 3,069,061.32 3,073,894.93 6,142,956.25
Scheduled Interest 2,938,779.62 2,809,335.58 5,748,115.20
Servicing Fees 338,398.02 329,138.67 667,536.69
Master Servicing Fees 6,767.96 6,582.77 13,350.73
Trustee Fee 1,691.99 1,645.69 3,337.68
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 2,600,381.60 2,480,196.91 5,080,578.51
Realized Loss Amount 1,678,030.54 568,116.33 2,246,146.87
Cumulative Realized Loss 6,638,560.92 2,492,202.24 9,130,763.16
Percentage of Cumulative Losses 0.02 0.01 0.01
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 9.223500 8.213500 8.723500