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): December 26, 2002
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certs., Series 2002-HE2 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-45458-05
Pooling and Servicing Agreement) (Commission 56-2302997
(State or other File Number) 56-2302990
jurisdiction 56-2303002
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 December 26, 2002 a distribution was made to holders of ACE SECURITIES
CORP. HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certs., Series
2002-HE2 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 Pass-
Through Certs., Series
2002-HE2 Trust, relating to the
December 26, 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.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Home Equity Loan Asset-Backed Certs., Series 2002-HE2 Trust
By: Wells Fargo Bank Minnesota, N.A. as Master Servicer
By: /s/ Beth Belfield, Assistant Vice President
By: Beth Belfield, Assistant Vice President
Date: 1/7/03
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset
Backed Pass-Through Certs., Series 2002-HE2 Trust,
relating to the December 26, 2002 distribution.
EX-99.1
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates
Record Date: 11/30/02
Distribution Date: 12/26/02
ACE Series: 2002-HE2
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 004421BC6 SEN 1.82000% 454,579,015.83 712,426.34 6,743,908.45
A-2A 004421AW3 SEN 1.81000% 49,250,784.68 76,762.82 1,148,186.05
A-2B 004421BD4 SEN 1.76000% 50,088,048.02 75,911.22 1,167,705.21
A-IO 004421BB8 SEN 5.50000% 0.00 308,458.33 0.00
M-1 004421AX1 MEZ 2.23000% 38,698,000.00 74,310.91 0.00
M-2 004421AY9 MEZ 3.03000% 33,650,000.00 87,798.46 0.00
M-3 004421AZ6 MEZ 3.53000% 20,190,000.00 61,371.99 0.00
M-4 004421BA0 MEZ 3.98000% 11,784,000.00 40,386.39 0.00
CE AC02HE2CE JUN 0.00000% 6,730,177.15 3,117,814.82 0.00
P ACE02HE2P SEN 0.00000% 100.00 222,975.60 0.00
Totals 664,970,125.68 4,778,216.88 9,059,799.71
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 0.00 447,835,107.38 7,456,334.79 0.00
A-2A 0.00 48,102,598.63 1,224,948.87 0.00
A-2B 0.00 48,920,342.81 1,243,616.43 0.00
A-IO 0.00 0.00 308,458.33 0.00
M-1 0.00 38,698,000.00 74,310.91 0.00
M-2 0.00 33,650,000.00 87,798.46 0.00
M-3 0.00 20,190,000.00 61,371.99 0.00
M-4 0.00 11,784,000.00 40,386.39 0.00
CE 0.00 6,730,177.15 3,117,814.82 0.00
P 0.00 100.00 222,975.60 0.00
Totals 0.00 655,910,325.97 13,838,016.59 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-1 461,100,000.00 454,579,015.83 0.00 6,743,908.45 0.00 0.00
A-2A 50,000,000.00 49,250,784.68 0.00 1,148,186.05 0.00 0.00
A-2B 50,850,000.00 50,088,048.02 0.00 1,167,705.21 0.00 0.00
A-IO 0.00 0.00 0.00 0.00 0.00 0.00
M-1 38,698,000.00 38,698,000.00 0.00 0.00 0.00 0.00
M-2 33,650,000.00 33,650,000.00 0.00 0.00 0.00 0.00
M-3 20,190,000.00 20,190,000.00 0.00 0.00 0.00 0.00
M-4 11,784,000.00 11,784,000.00 0.00 0.00 0.00 0.00
CE 6,730,177.15 6,730,177.15 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
Totals 673,002,277.15 664,970,125.68 0.00 9,059,799.71 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 6,743,908.45 447,835,107.38 0.97123207 6,743,908.45
A-2A 1,148,186.05 48,102,598.63 0.96205197 1,148,186.05
A-2B 1,167,705.21 48,920,342.81 0.96205197 1,167,705.21
A-IO 0.00 0.00 0.00000000 0.00
M-1 0.00 38,698,000.00 1.00000000 0.00
M-2 0.00 33,650,000.00 1.00000000 0.00
M-3 0.00 20,190,000.00 1.00000000 0.00
M-4 0.00 11,784,000.00 1.00000000 0.00
CE 0.00 6,730,177.15 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
Totals 9,059,799.71 655,910,325.97 0.97460343 9,059,799.71
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-1 461,100,000.00 985.85776584 0.00000000 14.62569605 0.00000000
A-2A 50,000,000.00 985.01569360 0.00000000 22.96372100 0.00000000
A-2B 50,850,000.00 985.01569361 0.00000000 22.96372094 0.00000000
A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M-1 38,698,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 33,650,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 20,190,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 11,784,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 6,730,177.15 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) 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 14.62569605 971.23206979 0.97123207 14.62569605
A-2A 0.00000000 22.96372100 962.05197260 0.96205197 22.96372100
A-2B 0.00000000 22.96372094 962.05197266 0.96205197 22.96372094
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
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 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-1 461,100,000.00 1.82000% 454,579,015.83 712,426.34 0.00 0.00
A-2A 50,000,000.00 1.81000% 49,250,784.68 76,762.82 0.00 0.00
A-2B 50,850,000.00 1.76000% 50,088,048.02 75,911.22 0.00 0.00
A-IO 0.00 5.50000% 67,300,000.00 308,458.33 0.00 0.00
M-1 38,698,000.00 2.23000% 38,698,000.00 74,310.91 0.00 0.00
M-2 33,650,000.00 3.03000% 33,650,000.00 87,798.46 0.00 0.00
M-3 20,190,000.00 3.53000% 20,190,000.00 61,371.99 0.00 0.00
M-4 11,784,000.00 3.98000% 11,784,000.00 40,386.39 0.00 0.00
CE 6,730,177.15 0.00000% 6,730,177.15 0.00 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
Totals 673,002,277.15 1,437,426.46 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 0.00 712,426.34 0.00 447,835,107.38
A-2A 0.00 0.00 76,762.82 0.00 48,102,598.63
A-2B 0.00 0.00 75,911.22 0.00 48,920,342.81
A-IO 0.00 0.00 308,458.33 0.00 67,300,000.00
M-1 0.00 0.00 74,310.91 0.00 38,698,000.00
M-2 0.00 0.00 87,798.46 0.00 33,650,000.00
M-3 0.00 0.00 61,371.99 0.00 20,190,000.00
M-4 0.00 0.00 40,386.39 0.00 11,784,000.00
CE 0.00 0.00 3,117,814.82 0.00 6,730,177.15
P 0.00 0.00 222,975.60 0.00 100.00
Totals 0.00 0.00 4,778,216.88 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-1 461,100,000.00 1.82000% 985.85776584 1.54505821 0.00000000 0.00000000
A-2A 50,000,000.00 1.81000% 985.01569360 1.53525640 0.00000000 0.00000000
A-2B 50,850,000.00 1.76000% 985.01569361 1.49284602 0.00000000 0.00000000
A-IO 0.00 5.50000% 1000.00000000 4.58333328 0.00000000 0.00000000
M-1 38,698,000.00 2.23000% 1000.00000000 1.92027779 0.00000000 0.00000000
M-2 33,650,000.00 3.03000% 1000.00000000 2.60916672 0.00000000 0.00000000
M-3 20,190,000.00 3.53000% 1000.00000000 3.03972214 0.00000000 0.00000000
M-4 11,784,000.00 3.98000% 1000.00000000 3.42722251 0.00000000 0.00000000
CE 6,730,177.15 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) 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 1.54505821 0.00000000 971.23206979
A-2A 0.00000000 0.00000000 1.53525640 0.00000000 962.05197260
A-2B 0.00000000 0.00000000 1.49284602 0.00000000 962.05197266
A-IO 0.00000000 0.00000000 4.58333328 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 1.92027779 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.60916672 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.03972214 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.42722251 0.00000000 1000.00000000
CE 0.00000000 0.00000000 463.25895300 0.00000000 1000.00000000
P 0.00000000 0.00000000 2229756.00000000 0.00000000 1000.00000000
<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 13,861,643.22
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 53,515.67
Realized Losses 0.00
Prepayment Penalties 222,975.60
Total Deposits 14,138,134.49
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 300,117.90
Payment of Interest and Principal 13,838,016.59
Total Withdrawals (Pool Distribution Amount) 14,138,134.49
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall (6,689.08)
Servicing Fee Support (6,689.08)
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 277,070.89
Credit Risk Manager Fee - Murrayhill 8,312.12
Master Servicing Fee - Wells Fargo 5,541.41
MBIA Fee - Class A-2A 2,504.40
Supported Prepayment/Curtailment Interest Shortfall (6,689.08)
Net Servicing Fee 300,117.90
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 1,000.00 0.00 0.00 1,000.00
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 34 0 0 0 34
5,075,482.29 0.00 0.00 0.00 5,075,482.29
60 Days 8 0 0 0 8
1,079,323.74 0.00 0.00 0.00 1,079,323.74
90 Days 2 0 0 0 2
169,680.61 0.00 0.00 0.00 169,680.61
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 44 0 0 0 44
6,324,486.64 0.00 0.00 0.00 6,324,486.64
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 0.752212% 0.000000% 0.000000% 0.000000% 0.752212%
0.773356% 0.000000% 0.000000% 0.000000% 0.773356%
60 Days 0.176991% 0.000000% 0.000000% 0.000000% 0.176991%
0.164458% 0.000000% 0.000000% 0.000000% 0.164458%
90 Days 0.044248% 0.000000% 0.000000% 0.000000% 0.044248%
0.025854% 0.000000% 0.000000% 0.000000% 0.025854%
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 0.973451% 0.000000% 0.000000% 0.000000% 0.973451%
0.963668% 0.000000% 0.000000% 0.000000% 0.963668%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
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 33 0 0 0 33
4,597,982.88 0.00 0.00 0.00 4,597,982.88
60 Days 8 0 0 0 8
1,079,323.74 0.00 0.00 0.00 1,079,323.74
90 Days 2 0 0 0 2
169,680.61 0.00 0.00 0.00 169,680.61
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 43 0 0 0 43
5,846,987.23 0.00 0.00 0.00 5,846,987.23
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.784034% 0.000000% 0.000000% 0.000000% 0.784034%
0.852643% 0.000000% 0.000000% 0.000000% 0.852643%
60 Days 0.190069% 0.000000% 0.000000% 0.000000% 0.190069%
0.200148% 0.000000% 0.000000% 0.000000% 0.200148%
90 Days 0.047517% 0.000000% 0.000000% 0.000000% 0.047517%
0.031465% 0.000000% 0.000000% 0.000000% 0.031465%
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 1.021620% 0.000000% 0.000000% 0.000000% 1.021620%
1.084256% 0.000000% 0.000000% 0.000000% 1.084256%
<caption>
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
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 1 0 0 0 1
477,499.41 0.00 0.00 0.00 477,499.41
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 1 0 0 0 1
477,499.41 0.00 0.00 0.00 477,499.41
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.321543% 0.000000% 0.000000% 0.000000% 0.321543%
0.408012% 0.000000% 0.000000% 0.000000% 0.408012%
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 0.321543% 0.000000% 0.000000% 0.000000% 0.321543%
0.408012% 0.000000% 0.000000% 0.000000% 0.408012%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 53,515.67
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 8.749873%
Weighted Average Net Coupon 8.249873%
Weighted Average Pass-Through Rate 8.224873%
Weighted Average Maturity(Stepdown Calculation ) 341
Beginning Scheduled Collateral Loan Count 4,572
Number Of Loans Paid In Full 52
Ending Scheduled Collateral Loan Count 4,520
Beginning Scheduled Collateral Balance 664,970,125.68
Ending Scheduled Collateral Balance 655,910,325.97
Ending Actual Collateral Balance at 30-Nov-2002 656,293,321.68
Monthly P &I Constant 5,526,791.52
Special Servicing Fee 0.00
Prepayment Penalties 222,975.60
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Ending Scheduled Balance for Premium Loans 655,910,325.97
Scheduled Principal 455,145.81
Unscheduled Principal 8,604,653.90
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Coupon Rate 8.749873%
Weighted Average Net Rate 8.249873%
Weighted Average Pass Through Rate 8.224873%
Weighted Average Maturity 341
Record Date 11/30/2002
Principal and Interest Constant 5,526,791.52
Beginning Loan Count 4,572
Loans Paid in Full 52
Ending Loan Count 4,520
Beginning Scheduled Balance 664,970,125.68
Ending Scheduled Balance 655,910,325.97
Ending Actual Balance at 30-Nov-2002 656,293,321.68
Scheduled Principal 455,145.81
Unscheduled Principal 8,604,653.90
Scheduled Interest 5,071,645.71
Servicing Fee 277,070.89
Master Servicing Fee 5,541.41
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 8,312.12
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 4,780,721.29
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.00
Special Servicing Fee 0.00
Prepayment Penalties 222,975.60
Miscellaneous Reporting
Required Overcollateralization Amount 6,730,177.15
Overcollateralization Increase Amount 0.00
Overcollateralization Reduction Amount 0.00
Credit Enhancement Percentage 16.931000%
Group Level Collateral Statement
Group 1 2 Total
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM
Weighted Average Coupon Rate 8.899061 8.067321 8.749873
Weighted Average Net Rate 8.399062 7.567321 8.249873
Weighted Average Maturity 341 340 341
Beginning Loan Count 4,255 317 4,572
Loans Paid In Full 46 6 52
Ending Loan Count 4,209 311 4,520
Beginning Scheduled Balance 545,695,259.76 119,274,865.92 664,970,125.68
Ending scheduled Balance 538,951,351.31 116,958,974.66 655,910,325.97
Record Date 11/30/2002 11/30/2002 11/30/2002
Principal And Interest Constant 4,584,350.60 942,440.92 5,526,791.52
Scheduled Principal 368,443.43 86,702.38 455,145.81
Unscheduled Principal 6,375,465.02 2,229,188.88 8,604,653.90
Scheduled Interest 4,215,907.17 855,738.54 5,071,645.71
Servicing Fees 227,373.02 49,697.87 277,070.89
Master Servicing Fees 4,547.46 993.95 5,541.41
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 6,821.18 1,490.94 8,312.12
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 3,977,165.51 803,555.78 4,780,721.29
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 8.374061 7.542321 8.224873