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
ASSET BACKED FUNDING CORPORATION
ABFC Mortgage Loan Asset-Backed Certificates, Series 2002-WF2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-32857-01 Pending
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
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
(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 ASSET BACKED FUNDING
CORPORATION, ABFC Mortgage Loan Asset-Backed Certificates, Series 2002-WF2
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 ABFC Mortgage Loan Asset-Backed
Certificates, Series 2002-WF2
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.
ASSET BACKED FUNDING CORPORATION
ABFC Mortgage Loan Asset-Backed Certificates, Series 2002-WF2 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: 11/8/02
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of ABFC
Mortgage Loan Asset-Backed Certificates, Series
2002-WF2 Trust, relating to the October 25, 2002
distribution.
Asset Backed Funding Corporation
Mortgage Pass-Through Certificates
Record Date: 9/30/02
Distribution Date: 10/25/02
ABFC Series: 2002-WF2
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>
A1 04542BBS0 SEN 2.70500% 29,072,000.00 65,533.13 2,803,105.38
A2 04542BBT8 SEN 2.85800% 189,463,000.00 436,196.45 0.00
AIO 04542BBU5 SEN 6.00000% 0.00 130,080.00 0.00
M1 04542BBV3 SUB 2.53063% 14,309,000.00 29,169.80 0.00
M2 04542BBW1 SUB 3.21063% 13,008,000.00 33,643.12 0.00
M3 04542BBX9 SUB 3.66063% 7,805,000.00 23,015.70 0.00
M4 04542BBY7 SUB 3.96063% 3,252,000.00 10,375.53 0.00
B 04542BBZ4 SUB 6.31063% 1,951,000.00 9,918.03 0.00
CE ABF02W2CE SUB 0.00000% 1,301,376.21 1,085,646.23 0.00
R1 ABF02W2R1 SUB 0.00000% 0.00 0.00 0.00
R2 ABF02W2R2 SUB 0.00000% 0.00 0.00 0.00
R3 ABF02W2R3 SUB 0.00000% 0.00 0.00 0.00
R4 ABF02W2R4 SUB 0.00000% 0.00 0.00 0.00
R5 ABF02W2R5 SUB 0.00000% 0.00 0.00 0.00
P ABF02WF2P SUB 0.00000% 0.00 56,894.12 0.00
Totals 260,161,376.21 1,880,472.11 2,803,105.38
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A1 0.00 26,268,894.62 2,868,638.51 0.00
A2 0.00 189,463,000.00 436,196.45 0.00
AIO 0.00 0.00 130,080.00 0.00
M1 0.00 14,309,000.00 29,169.80 0.00
M2 0.00 13,008,000.00 33,643.12 0.00
M3 0.00 7,805,000.00 23,015.70 0.00
M4 0.00 3,252,000.00 10,375.53 0.00
B 0.00 1,951,000.00 9,918.03 0.00
CE 0.00 1,300,806.87 1,085,646.23 0.00
R1 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00
R4 0.00 0.00 0.00 0.00
R5 0.00 0.00 0.00 0.00
P 0.00 0.00 56,894.12 0.00
Totals 0.00 257,357,701.49 4,683,577.49 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>
A1 29,072,000.00 29,072,000.00 0.00 2,803,105.38 0.00 0.00
A2 189,463,000.00 189,463,000.00 0.00 0.00 0.00 0.00
AIO 0.00 0.00 0.00 0.00 0.00 0.00
M1 14,309,000.00 14,309,000.00 0.00 0.00 0.00 0.00
M2 13,008,000.00 13,008,000.00 0.00 0.00 0.00 0.00
M3 7,805,000.00 7,805,000.00 0.00 0.00 0.00 0.00
M4 3,252,000.00 3,252,000.00 0.00 0.00 0.00 0.00
B 1,951,000.00 1,951,000.00 0.00 0.00 0.00 0.00
CE 1,301,376.21 1,301,376.21 0.00 0.00 0.00 0.00
R1 0.00 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00 0.00
R4 0.00 0.00 0.00 0.00 0.00 0.00
R5 0.00 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 0.00 0.00 0.00 0.00
Totals 260,161,376.21 260,161,376.21 0.00 2,803,105.38 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>
A1 2,803,105.38 26,268,894.62 0.90358058 2,803,105.38
A2 0.00 189,463,000.00 1.00000000 0.00
AIO 0.00 0.00 0.00000000 0.00
M1 0.00 14,309,000.00 1.00000000 0.00
M2 0.00 13,008,000.00 1.00000000 0.00
M3 0.00 7,805,000.00 1.00000000 0.00
M4 0.00 3,252,000.00 1.00000000 0.00
B 0.00 1,951,000.00 1.00000000 0.00
CE 0.00 1,300,806.87 0.99956251 0.00
R1 0.00 0.00 0.00000000 0.00
R2 0.00 0.00 0.00000000 0.00
R3 0.00 0.00 0.00000000 0.00
R4 0.00 0.00 0.00000000 0.00
R5 0.00 0.00 0.00000000 0.00
P 0.00 0.00 0.00000000 0.00
Totals 2,803,105.38 257,357,701.49 0.98922332 2,803,105.38
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>
A1 29,072,000.00 1000.00000000 0.00000000 96.41942006 0.00000000
A2 189,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M1 14,309,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M2 13,008,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M3 7,805,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M4 3,252,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 1,951,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 1,301,376.21 1000.00000000 0.00000000 0.00000000 0.00000000
R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R4 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R5 0.00 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are per $1000.00 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>
A1 0.00000000 96.41942006 903.58057994 0.90358058 96.41942006
A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
AIO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.56250929 0.99956251 0.00000000
R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 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>
A1 29,072,000.00 2.70500% 29,072,000.00 65,533.13 0.00 0.00
A2 189,463,000.00 2.85800% 189,463,000.00 436,196.45 0.00 0.00
AIO 0.00 6.00000% 26,016,000.00 130,080.00 0.00 0.00
M1 14,309,000.00 2.53063% 14,309,000.00 29,169.80 0.00 0.00
M2 13,008,000.00 3.21063% 13,008,000.00 33,643.12 0.00 0.00
M3 7,805,000.00 3.66063% 7,805,000.00 23,015.70 0.00 0.00
M4 3,252,000.00 3.96063% 3,252,000.00 10,375.53 0.00 0.00
B 1,951,000.00 6.31063% 1,951,000.00 9,918.03 0.00 0.00
CE 1,301,376.21 0.00000% 1,301,376.21 0.00 0.00 0.00
R1 0.00 0.00000% 0.00 0.00 0.00 0.00
R2 0.00 0.00000% 0.00 0.00 0.00 0.00
R3 0.00 0.00000% 0.00 0.00 0.00 0.00
R4 0.00 0.00000% 0.00 0.00 0.00 0.00
R5 0.00 0.00000% 0.00 0.00 0.00 0.00
P 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 260,161,376.21 737,931.76 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>
A1 0.00 0.00 65,533.13 0.00 26,268,894.62
A2 0.00 0.00 436,196.45 0.00 189,463,000.00
AIO 0.00 0.00 130,080.00 0.00 26,016,000.00
M1 0.00 0.00 29,169.80 0.00 14,309,000.00
M2 0.00 0.00 33,643.12 0.00 13,008,000.00
M3 0.00 0.00 23,015.70 0.00 7,805,000.00
M4 0.00 0.00 10,375.53 0.00 3,252,000.00
B 0.00 0.00 9,918.03 0.00 1,951,000.00
CE 0.00 0.00 1,085,646.23 0.00 1,300,806.87
R1 0.00 0.00 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00 0.00
R3 0.00 0.00 0.00 0.00 0.00
R4 0.00 0.00 0.00 0.00 0.00
R5 0.00 0.00 0.00 0.00 0.00
P 0.00 0.00 56,894.12 0.00 0.00
Totals 0.00 0.00 1,880,472.11 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>
A1 29,072,000.00 2.70500% 1000.00000000 2.25416655 0.00000000 0.00000000
A2 189,463,000.00 2.85800% 1000.00000000 2.30227775 0.00000000 0.00000000
AIO 0.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000
M1 14,309,000.00 2.53063% 1000.00000000 2.03856314 0.00000000 0.00000000
M2 13,008,000.00 3.21063% 1000.00000000 2.58634071 0.00000000 0.00000000
M3 7,805,000.00 3.66063% 1000.00000000 2.94884049 0.00000000 0.00000000
M4 3,252,000.00 3.96063% 1000.00000000 3.19050738 0.00000000 0.00000000
B 1,951,000.00 6.31063% 1000.00000000 5.08356228 0.00000000 0.00000000
CE 1,301,376.21 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R4 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
R5 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are per $1000.00 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>
A1 0.00000000 0.00000000 2.25416655 0.00000000 903.58057994
A2 0.00000000 0.00000000 2.30227775 0.00000000 1000.00000000
AIO 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000
M1 0.00000000 0.00000000 2.03856314 0.00000000 1000.00000000
M2 0.00000000 0.00000000 2.58634071 0.00000000 1000.00000000
M3 0.00000000 0.00000000 2.94884049 0.00000000 1000.00000000
M4 0.00000000 0.00000000 3.19050738 0.00000000 1000.00000000
B 0.00000000 0.00000000 5.08356228 0.00000000 1000.00000000
CE 0.00000000 0.00000000 834.22935017 0.00000000 999.56250929
R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R5 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
P 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 4,682,839.22
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 58,748.75
Realized Losses 0.00
Prepayment Penalties 56,894.12
Total Deposits 4,798,482.09
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 114,904.60
Payment of Interest and Principal 4,683,577.49
Total Withdrawals (Pool Distribution Amount) 4,798,482.09
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 108,400.56
Certificate Admin Fee 2,710.01
Credit Risk Management Fee 3,794.03
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 114,904.60
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 2 0 0 0 2
112,435.68 0.00 0.00 0.00 112,435.68
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 0 0 0 2
112,435.68 0.00 0.00 0.00 112,435.68
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 0.098961% 0.000000% 0.000000% 0.000000% 0.098961%
0.043664% 0.000000% 0.000000% 0.000000% 0.043664%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
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 0.098961% 0.000000% 0.000000% 0.000000% 0.098961%
0.043664% 0.000000% 0.000000% 0.000000% 0.043664%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 1 ARM Loans 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 2 0 0 0 2
112,435.68 0.00 0.00 0.00 112,435.68
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 0 0 0 2
112,435.68 0.00 0.00 0.00 112,435.68
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.131234% 0.000000% 0.000000% 0.000000% 0.131234%
0.057366% 0.000000% 0.000000% 0.000000% 0.057366%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
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 0.131234% 0.000000% 0.000000% 0.000000% 0.131234%
0.057366% 0.000000% 0.000000% 0.000000% 0.057366%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Group 2 Fixed Loan 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 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
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 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
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 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 58,748.75
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 8.938667%
Weighted Average Net Coupon 8.438667%
Weighted Average Pass-Through Rate 8.408667%
Weighted Average Maturity(Stepdown Calculation ) 337
Beginning Scheduled Collateral Loan Count 2,038
Number Of Loans Paid In Full 17
Ending Scheduled Collateral Loan Count 2,021
Beginning Scheduled Collateral Balance 260,161,376.22
Ending Scheduled Collateral Balance 257,357,701.50
Ending Actual Collateral Balance at 30-Sep-2002 257,501,693.09
Monthly P&I Constant 2,107,362.15
Special Servicing Fee 0.00
Prepayment Penalties 56,894.12
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 257,357,701.50
Scheduled Principal 169,448.90
Unscheduled Principal 2,634,225.84
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 569.36
Specified O/C Amount 1,300,806.88
Overcollateralized Amount 1,300,806.88
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 1,085,646.23
Group Level Collateral Statement
Group Group 1 ARM Loans Group 2 Fixed Loan Total
Collateral Description 6 Month LIBOR ARM Mixed Fixed Mixed Fixed & Arm
Weighted Average Coupon Rate 9.186395 8.147267 8.938667
Weighted Average Net Rate 8.686395 7.647267 8.438667
Weighted Average Maturity 337 337 337
Beginning Loan Count 1,537 501 2,038
Loans Paid In Full 13 4 17
Ending Loan Count 1,524 497 2,021
Beginning Scheduled Balance 198,139,008.28 62,022,367.96 260,161,376.24
Ending scheduled Balance 195,898,937.20 61,458,764.30 257,357,701.50
Record Date 09/30/2002 09/30/2002 09/30/2002
Principal And Interest Constant 1,627,085.34 480,276.81 2,107,362.15
Scheduled Principal 110,266.07 59,182.83 169,448.90
Unscheduled Principal 2,129,805.01 504,420.83 2,634,225.84
Scheduled Interest 1,516,819.27 421,093.98 1,937,913.25
Servicing Fees 82,557.92 25,842.64 108,400.56
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 4,953.48 1,550.56 6,504.04
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 1,429,307.87 393,700.78 1,823,008.65
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 8.656395 7.617267 8.408667