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): November 25, 2002
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2001-AC2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-43091-11
Pooling and Servicing Agreement) (Commission 52-2316429
(State or other File Number) 52-2316431
jurisdiction 52-2316430
of Incorporation) 52-2316434
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 November 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET
BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2001-AC2
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 2001-AC2
Trust, relating to the November
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.
BEAR STEARNS ASSET BACKED SECURITIES TRUST
Asset-Backed Certificates, Series 2001-AC2 Trust
By: Wells Fargo Bank Minnesota, NA, Securities Administrator
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: 12/3/02
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset-
Backed Certificates, Series 2001-AC2 Trust,
relating to the November 25, 2002 distribution.
EX-99.1
Bear Stearns Asset Backed Securities
Asset-Backed Certificates
Record Date: 10/31/02
Distribution Date: 11/25/02
BSA Series: 2001-AC2
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-IO 07384YBC9 IO 8.00000% 0.00 134,800.00 0.00
I-A1 07384YAX4 SEN 2.08000% 14,933,312.05 26,747.22 9,160,284.85
I-A2 07384YAY2 SEN 4.91000% 62,927,000.00 257,476.31 0.00
I-A3 07384YAZ9 SEN 5.72000% 13,090,000.00 62,395.67 0.00
I-A4 07384YBA3 SEN 6.16000% 21,231,000.00 108,985.80 0.00
I-A5 07384YBB1 SEN 6.38000% 25,685,000.00 136,558.58 0.00
II-F 07384YBD7 SEN 2.43000% 104,933,977.45 212,491.30 17,036,417.44
II-INV 07384YBE5 SEN 5.57000% 0.00 487,068.55 0.00
II-A-2 07384YBF2 SEN 5.82000% 37,290,000.00 180,856.50 0.00
II-A-3 07384YBG0 SEN 6.45000% 26,381,000.00 141,797.88 0.00
M-1 07384YBH8 SUB 6.05000% 11,890,000.00 59,945.42 0.00
M-2 07384YBJ4 SUB 6.30000% 10,569,000.00 55,487.25 0.00
B 07384YBK1 SUB 6.75000% 7,927,000.00 44,589.38 0.00
B-IO BSAAC2BIO IO 0.00000% 1,849,617.39 450,298.45 0.00
P BSA01AC2P SUB 0.00000% 100.00 2,298.65 0.00
R-1 BSA1AC2R1 RES 0.00000% 0.00 0.00 0.00
R-2 BSA1AC2R2 RES 0.00000% 0.00 0.00 0.00
R-3 BSA1AC2R3 RES 0.00000% 0.00 0.00 0.00
R-4 BSA1AC2R4 RES 0.00000% 0.00 0.00 0.00
Totals 338,707,006.89 2,361,796.96 26,196,702.29
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 0.00 134,800.00 0.00
I-A1 0.00 5,773,027.20 9,187,032.07 0.00
I-A2 0.00 62,927,000.00 257,476.31 0.00
I-A3 0.00 13,090,000.00 62,395.67 0.00
I-A4 0.00 21,231,000.00 108,985.80 0.00
I-A5 0.00 25,685,000.00 136,558.58 0.00
II-F 0.00 87,897,560.01 17,248,908.74 0.00
II-INV 0.00 0.00 487,068.55 0.00
II-A-2 0.00 37,290,000.00 180,856.50 0.00
II-A-3 0.00 26,381,000.00 141,797.88 0.00
M-1 0.00 11,890,000.00 59,945.42 0.00
M-2 0.00 10,569,000.00 55,487.25 0.00
B 0.00 7,927,000.00 44,589.38 0.00
B-IO 0.00 1,849,617.39 450,298.45 0.00
P 0.00 100.00 2,298.65 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
R-4 0.00 0.00 0.00 0.00
Totals 0.00 312,510,304.60 28,558,499.25 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-IO 0.00 0.00 0.00 0.00 0.00 0.00
I-A1 67,637,000.00 14,933,312.05 0.00 9,160,284.85 0.00 0.00
I-A2 62,927,000.00 62,927,000.00 0.00 0.00 0.00 0.00
I-A3 13,090,000.00 13,090,000.00 0.00 0.00 0.00 0.00
I-A4 21,231,000.00 21,231,000.00 0.00 0.00 0.00 0.00
I-A5 25,685,000.00 25,685,000.00 0.00 0.00 0.00 0.00
II-F 243,835,000.00 104,933,977.45 0.00 17,036,417.44 0.00 0.00
II-INV 0.00 0.00 0.00 0.00 0.00 0.00
II-A-2 37,290,000.00 37,290,000.00 0.00 0.00 0.00 0.00
II-A-3 26,381,000.00 26,381,000.00 0.00 0.00 0.00 0.00
M-1 11,890,000.00 11,890,000.00 0.00 0.00 0.00 0.00
M-2 10,569,000.00 10,569,000.00 0.00 0.00 0.00 0.00
B 7,927,000.00 7,927,000.00 0.00 0.00 0.00 0.00
B-IO 11.00 1,849,617.39 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
R-4 0.00 0.00 0.00 0.00 0.00 0.00
Totals 528,462,111.00 338,707,006.89 0.00 26,196,702.29 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-IO 0.00 0.00 0.00000000 0.00
I-A1 9,160,284.85 5,773,027.20 0.08535309 9,160,284.85
I-A2 0.00 62,927,000.00 1.00000000 0.00
I-A3 0.00 13,090,000.00 1.00000000 0.00
I-A4 0.00 21,231,000.00 1.00000000 0.00
I-A5 0.00 25,685,000.00 1.00000000 0.00
II-F 17,036,417.44 87,897,560.01 0.36047967 17,036,417.44
II-INV 0.00 0.00 0.00000000 0.00
II-A-2 0.00 37,290,000.00 1.00000000 0.00
II-A-3 0.00 26,381,000.00 1.00000000 0.00
M-1 0.00 11,890,000.00 1.00000000 0.00
M-2 0.00 10,569,000.00 1.00000000 0.00
B 0.00 7,927,000.00 1.00000000 0.00
B-IO 0.00 1,849,617.39 168,147.03545455 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
R-4 0.00 0.00 0.00000000 0.00
Totals 26,196,702.29 312,510,304.60 0.59135801 26,196,702.29
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 67,637,000.00 220.78613850 0.00000000 135.43304478 0.00000000
I-A2 62,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A3 13,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A4 21,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A5 25,685,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-F 243,835,000.00 430.34829885 0.00000000 69.86863018 0.00000000
II-INV 0.00 0.00000000 0.00000000 0.00000000 0.00000000
II-A-2 37,290,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-3 26,381,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 11,890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 10,569,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B 7,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-IO 11.00 168147035.454545 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
R-4 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 135.43304478 85.35309372 0.08535309 135.43304478
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-F 0.00000000 69.86863018 360.47966867 0.36047967 69.86863018
II-INV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
II-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 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 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-IO 0.00000000 0.00000000 168,147,035.45454 168147.03545455 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
R-4 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-IO 0.00 8.00000% 20,220,000.00 134,800.00 0.00 0.00
I-A1 67,637,000.00 2.08000% 14,933,312.05 26,747.22 0.00 0.00
I-A2 62,927,000.00 4.91000% 62,927,000.00 257,476.31 0.00 0.00
I-A3 13,090,000.00 5.72000% 13,090,000.00 62,395.67 0.00 0.00
I-A4 21,231,000.00 6.16000% 21,231,000.00 108,985.80 0.00 0.00
I-A5 25,685,000.00 6.38000% 25,685,000.00 136,558.58 0.00 0.00
II-F 243,835,000.00 2.43000% 104,933,977.45 212,491.30 0.00 0.00
II-INV 0.00 5.57000% 104,933,977.45 487,068.55 0.00 0.00
II-A-2 37,290,000.00 5.82000% 37,290,000.00 180,856.50 0.00 0.00
II-A-3 26,381,000.00 6.45000% 26,381,000.00 141,797.88 0.00 0.00
M-1 11,890,000.00 6.05000% 11,890,000.00 59,945.42 0.00 0.00
M-2 10,569,000.00 6.30000% 10,569,000.00 55,487.25 0.00 0.00
B 7,927,000.00 6.75000% 7,927,000.00 44,589.38 0.00 0.00
B-IO 11.00 0.00000% 1,849,617.39 0.00 0.00 0.00
P 100.00 0.00000% 100.00 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
R-4 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 528,462,111.00 1,909,199.86 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 0.00 134,800.00 0.00 20,220,000.00
I-A1 0.00 0.00 26,747.22 0.00 5,773,027.20
I-A2 0.00 0.00 257,476.31 0.00 62,927,000.00
I-A3 0.00 0.00 62,395.67 0.00 13,090,000.00
I-A4 0.00 0.00 108,985.80 0.00 21,231,000.00
I-A5 0.00 0.00 136,558.58 0.00 25,685,000.00
II-F 0.00 0.00 212,491.30 0.00 87,897,560.01
II-INV 0.00 0.00 487,068.55 0.00 87,897,560.01
II-A-2 0.00 0.00 180,856.50 0.00 37,290,000.00
II-A-3 0.00 0.00 141,797.88 0.00 26,381,000.00
M-1 0.00 0.00 59,945.42 0.00 11,890,000.00
M-2 0.00 0.00 55,487.25 0.00 10,569,000.00
B 0.00 0.00 44,589.38 0.00 7,927,000.00
B-IO 0.00 0.00 450,298.45 0.00 1,849,617.39
P 0.00 0.00 2,298.65 0.00 100.00
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
R-4 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,361,796.96 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-IO 0.00 8.00000% 1000.00000000 6.66666667 0.00000000 0.00000000
I-A1 67,637,000.00 2.08000% 220.78613850 0.39545249 0.00000000 0.00000000
I-A2 62,927,000.00 4.91000% 1000.00000000 4.09166669 0.00000000 0.00000000
I-A3 13,090,000.00 5.72000% 1000.00000000 4.76666692 0.00000000 0.00000000
I-A4 21,231,000.00 6.16000% 1000.00000000 5.13333333 0.00000000 0.00000000
I-A5 25,685,000.00 6.38000% 1000.00000000 5.31666654 0.00000000 0.00000000
II-F 243,835,000.00 2.43000% 430.34829885 0.87145529 0.00000000 0.00000000
II-INV 0.00 5.57000% 430.34829885 1.99753337 0.00000000 0.00000000
II-A-2 37,290,000.00 5.82000% 1000.00000000 4.85000000 0.00000000 0.00000000
II-A-3 26,381,000.00 6.45000% 1000.00000000 5.37500019 0.00000000 0.00000000
M-1 11,890,000.00 6.05000% 1000.00000000 5.04166695 0.00000000 0.00000000
M-2 10,569,000.00 6.30000% 1000.00000000 5.25000000 0.00000000 0.00000000
B 7,927,000.00 6.75000% 1000.00000000 5.62500063 0.00000000 0.00000000
B-IO 11.00 0.00000% 168147035.4545454 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 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
R-4 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 6.66666667 0.00000000 1000.00000000
I-A1 0.00000000 0.00000000 0.39545249 0.00000000 85.35309372
I-A2 0.00000000 0.00000000 4.09166669 0.00000000 1000.00000000
I-A3 0.00000000 0.00000000 4.76666692 0.00000000 1000.00000000
I-A4 0.00000000 0.00000000 5.13333333 0.00000000 1000.00000000
I-A5 0.00000000 0.00000000 5.31666654 0.00000000 1000.00000000
II-F 0.00000000 0.00000000 0.87145529 0.00000000 360.47966867
II-INV 0.00000000 0.00000000 1.99753337 0.00000000 360.47966867
II-A-2 0.00000000 0.00000000 4.85000000 0.00000000 1000.00000000
II-A-3 0.00000000 0.00000000 5.37500019 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 5.04166695 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 5.25000000 0.00000000 1000.00000000
B 0.00000000 0.00000000 5.62500063 0.00000000 1000.00000000
B-IO 0.00000000 0.00000000 40936222.7272727 0.00000000 168147035.45454544
P 0.00000000 0.00000000 22986.50000000 0.00000000 1000.00000000
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
R-4 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 28,488,196.24
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 175,039.99
Realized Losses 0.00
Prepayment Penalties 0.00
Total Deposits 28,663,236.23
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 104,736.98
Payment of Interest and Principal 28,558,499.25
Total Withdrawals (Pool Distribution Amount) 28,663,236.23
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 101,914.45
Trustee Fee 2,822.53
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 104,736.98
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
123,221.02 0.00 0.00 123,221.02
30 Days 28 1 0 0 29
4,761,820.79 316,576.40 0.00 0.00 5,078,397.19
60 Days 15 0 0 0 15
3,909,683.69 0.00 0.00 0.00 3,909,683.69
90 Days 8 1 3 0 12
1,448,333.33 122,274.00 432,012.43 0.00 2,002,619.76
120 Days 4 1 4 0 9
814,244.95 123,902.26 630,884.74 0.00 1,569,031.95
150 Days 1 1 8 0 10
137,402.22 134,257.78 1,460,298.13 0.00 1,731,958.13
180+ Days 10 1 22 4 37
1,730,978.95 296,965.77 4,878,408.50 1,037,535.72 7,943,888.94
Totals 66 6 37 4 113
12,802,463.93 1,117,197.23 7,401,603.80 1,037,535.72 22,358,800.68
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 0.068213% 0.000000% 0.000000% 0.068213%
0.039408% 0.000000% 0.000000% 0.039408%
30 Days 1.909959% 0.068213% 0.000000% 0.000000% 1.978172%
1.522895% 0.101245% 0.000000% 0.000000% 1.624140%
60 Days 1.023192% 0.000000% 0.000000% 0.000000% 1.023192%
1.250370% 0.000000% 0.000000% 0.000000% 1.250370%
90 Days 0.545703% 0.068213% 0.204638% 0.000000% 0.818554%
0.463197% 0.039105% 0.138163% 0.000000% 0.640465%
120 Days 0.272851% 0.068213% 0.272851% 0.000000% 0.613915%
0.260407% 0.039626% 0.201765% 0.000000% 0.501798%
150 Days 0.068213% 0.068213% 0.545703% 0.000000% 0.682128%
0.043943% 0.042937% 0.467023% 0.000000% 0.553904%
180+ Days 0.682128% 0.068213% 1.500682% 0.272851% 2.523874%
0.553591% 0.094974% 1.560181% 0.331818% 2.540563%
Totals 4.502046% 0.409277% 2.523874% 0.272851% 7.708049%
4.094402% 0.357295% 2.367133% 0.331818% 7.150648%
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
123,221.02 0.00 0.00 123,221.02
30 Days 21 0 0 0 21
2,229,759.91 0.00 0.00 0.00 2,229,759.91
60 Days 7 0 0 0 7
1,039,106.46 0.00 0.00 0.00 1,039,106.46
90 Days 7 1 3 0 11
980,851.41 122,274.00 432,012.43 0.00 1,535,137.84
120 Days 3 1 4 0 8
499,495.57 123,902.26 630,884.74 0.00 1,254,282.57
150 Days 1 1 6 0 8
137,402.22 134,257.78 792,722.78 0.00 1,064,382.78
180 Days 9 0 16 2 27
1,401,306.56 0.00 2,377,849.46 297,803.09 4,076,959.11
Totals 48 4 29 2 83
6,287,922.13 503,655.06 4,233,469.41 297,803.09 11,322,849.69
0-29 Days 0.098522% 0.000000% 0.000000% 0.098522%
0.087462% 0.000000% 0.000000% 0.087462%
30 Days 2.068966% 0.000000% 0.000000% 0.000000% 2.068966%
1.582686% 0.000000% 0.000000% 0.000000% 1.582686%
60 Days 0.689655% 0.000000% 0.000000% 0.000000% 0.689655%
0.737559% 0.000000% 0.000000% 0.000000% 0.737559%
90 Days 0.689655% 0.098522% 0.295567% 0.000000% 1.083744%
0.696209% 0.086790% 0.306643% 0.000000% 1.089642%
120 Days 0.295567% 0.098522% 0.394089% 0.000000% 0.788177%
0.354542% 0.087946% 0.447803% 0.000000% 0.890291%
150 Days 0.098522% 0.098522% 0.591133% 0.000000% 0.788177%
0.097528% 0.095296% 0.562675% 0.000000% 0.755500%
180 Days 0.886700% 0.000000% 1.576355% 0.197044% 2.660099%
0.994649% 0.000000% 1.687800% 0.211381% 2.893829%
Totals 4.729064% 0.394089% 2.857143% 0.197044% 8.177340%
4.463173% 0.357495% 3.004920% 0.211381% 8.036969%
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 7 1 0 0 8
2,532,060.88 316,576.40 0.00 0.00 2,848,637.28
60 Days 8 0 0 0 8
2,870,577.23 0.00 0.00 0.00 2,870,577.23
90 Days 1 0 0 0 1
467,481.92 0.00 0.00 0.00 467,481.92
120 Days 1 0 0 0 1
314,749.38 0.00 0.00 0.00 314,749.38
150 Days 0 0 2 0 2
0.00 0.00 667,575.35 0.00 667,575.35
180 Days 1 1 6 2 10
329,672.39 296,965.77 2,500,559.04 739,732.63 3,866,929.83
Totals 18 2 8 2 30
6,514,541.80 613,542.17 3,168,134.39 739,732.63 11,035,950.99
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.552106% 0.221729% 0.000000% 0.000000% 1.773836%
1.473863% 0.184273% 0.000000% 0.000000% 1.658136%
60 Days 1.773836% 0.000000% 0.000000% 0.000000% 1.773836%
1.670907% 0.000000% 0.000000% 0.000000% 1.670907%
90 Days 0.221729% 0.000000% 0.000000% 0.000000% 0.221729%
0.272112% 0.000000% 0.000000% 0.000000% 0.272112%
120 Days 0.221729% 0.000000% 0.000000% 0.000000% 0.221729%
0.183209% 0.000000% 0.000000% 0.000000% 0.183209%
150 Days 0.000000% 0.000000% 0.443459% 0.000000% 0.443459%
0.000000% 0.000000% 0.388582% 0.000000% 0.388582%
180 Days 0.221729% 0.221729% 1.330377% 0.443459% 2.217295%
0.191896% 0.172858% 1.455526% 0.430584% 2.250864%
Totals 3.991131% 0.443459% 1.773836% 0.443459% 6.651885%
3.791987% 0.357131% 1.844109% 0.430584% 6.423810%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 175,039.99
COLLATERAL STATEMENT
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 8.632880%
Weighted Average Net Coupon 8.271809%
Weighted Average Pass-Through Rate 8.261809%
Weighted Average Maturity(Stepdown Calculation ) 326
Beginning Scheduled Collateral Loan Count 1,555
Number Of Loans Paid In Full 89
Ending Scheduled Collateral Loan Count 1,466
Beginning Scheduled Collateral Balance 338,707,006.89
Ending Scheduled Collateral Balance 312,510,304.60
Ending Actual Collateral Balance at 31-Oct-2002 312,682,176.76
Monthly P &I Constant 2,657,978.77
Special Servicing Fee 0.00
Prepayment Penalties 0.00
Realized Loss Amount 0.00
Cumulative Realized Loss 7,893.64
Ending Scheduled Balance for Premium Loans 312,510,304.60
Scheduled Principal 232,291.46
Unscheduled Principal 25,964,410.83
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 0.00
Specified O/C Amount 1,849,617.39
Overcollateralized Amount 1,849,617.39
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Extra principal distribution Amount 0.00
Excess Cash Amount 452,597.10
Miscellaneous Reporting
3 Month Rolling Delinquency Avg 4.522723%
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 9.067084 8.477648 8.632880
Weighted Average Net Rate 8.720088 8.105391 8.271809
Weighted Average Maturity 316 331 326
Beginning Loan Count 1,066 489 1,555
Loans Paid In Full 51 38 89
Ending Loan Count 1,015 451 1,466
Beginning Scheduled Balance 149,977,341.70 188,729,665.19 338,707,006.89
Ending scheduled Balance 140,817,056.85 171,693,247.75 312,510,304.60
Record Date 10/31/2002 10/31/2002 10/31/2002
Principal And Interest Constant 1,200,025.60 1,457,953.17 2,657,978.77
Scheduled Principal 107,657.96 124,633.50 232,291.46
Unscheduled Principal 9,052,626.89 16,911,783.94 25,964,410.83
Scheduled Interest 1,133,214.25 1,333,319.67 2,466,533.92
Servicing Fees 43,367.92 58,546.53 101,914.45
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 1,249.79 1,572.74 2,822.53
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 1,088,596.54 1,273,200.40 2,361,796.94
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 4,100.48 3,793.16 7,893.64
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 8.710088 8.095391 8.261809