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): June 25, 2002
CWA
(Depositor)
(Issuer in respect of Asset-Backed Securities, Series 2002-S1)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 91110-7137
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Item 5. Other Events
CWA
Asset-Backed Securities
Series 2002-S1
On June 25, 2002, The Bank of New York, as Trustee for CWA, Asset-Backed
Securities Series 2002-S1, made a monthly distribution to Certificate holders of
principal and/or interest pursuant to the Pooling and Servicing Agreement, dated
as of April 1, 2002, among CWA as Depositor, Countrywide Home Loans, Seller and
Master Servicer and The Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of CWA, Asset-Backed Securities Series
2002-S1 relating to the distribution date of June 25, 2002
prepared by The Bank of New York, as Trustee under the
Pooling and Servicing Agreement dated as of April 1, 2002.
SIGNATURES
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 thereunto duly authorized.
Dated: June 25, 2002
CWA
By: /s/ Courtney Bartholomew
------------------------------
Name: Courtney Bartholomew
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated June 25, 2002
Payment Date: 06/25/02
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securities, Series 2002-S1
------------------------------------------------------------
Class Information Current Payment Information
- ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
Senior A1 306,983,370.90 1.990000% 12,996,949.21 475,142.04 13,472,091.25 0.00 0.00
A2A 68,085,197.79 4.670000% 1,400,748.95 264,964.89 1,665,713.85 0.00 0.00
A2B 70,600,000.00 5.151000% 0.00 303,050.50 303,050.50 0.00 0.00
A3 49,900,000.00 5.877000% 0.00 244,385.25 244,385.25 0.00 0.00
A4 23,900,000.00 6.150000% 0.00 122,487.50 122,487.50 0.00 0.00
A5 56,200,000.00 5.960000% 0.00 279,126.67 279,126.67 0.00 0.00
AIO 610,318,568.69 3.860289% 0.00 1,963,343.78 1,963,343.78 0.00 0.00
Residual AR 0.00 5.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M1 28,350,000.00 6.180000% 0.00 146,002.50 146,002.50 0.00 0.00
M2 6,300,000.00 6.695000% 0.00 35,148.75 35,148.75 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 610,318,568.69 - 14,397,698.16 3,833,651.88 18,231,350.04 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 293,986,421.70 0.00
A2A 66,684,448.83 0.00
A2B 70,600,000.00 0.00
A3 49,900,000.00 0.00
A4 23,900,000.00 0.00
A5 56,200,000.00 0.00
AIO 595,920,870.53 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M1 28,350,000.00 0.00
M2 6,300,000.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 595,920,870.53 -
- --------------------------------------------------------------------------------
Payment Date: 06/25/02
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securities, Series 2002-S1
------------------------------------------------------------
Class Information Current Payment Information
Factors per $1,000
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Senior A1 306,983,370.90 1.990000% 126671PM2 40.021399 1.463101 905.269967
A2A 68,085,197.79 4.670000% 126671PS9 20.010699 3.785213 952.634983
A2B 70,600,000.00 5.151000% 126671PX8 0.000000 4.292500 1,000.000000
A3 49,900,000.00 5.877000% 126671PT7 0.000000 4.897500 1,000.000000
A4 23,900,000.00 6.150000% 126671PU4 0.000000 5.125000 1,000.000000
A5 56,200,000.00 5.960000% 126671PV2 0.000000 4.966667 1,000.000000
AIO 610,318,568.69 3.860289% 126671PW0 0.000000 3.116418 945.905994
Residual AR 0.00 5.000000% 126671PN0 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M1 28,350,000.00 6.180000% 126671PP5 0.000000 5.150000 1,000.000000
M2 6,300,000.00 6.695000% 126671PQ3 0.000000 5.579167 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 610,318,568.69 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securities, Series 2002-S1
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 595,920,870.53 595,920,870.53
Loan count 18482 18482
Avg loan rate 9.200799% 9.20
Prepay amount 13,454,659.20 13,454,659.20
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FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 246,156.24 246,156.24
Sub servicer fees 600,582.26 600,582.26
Trustee fees 4,577.39 4,577.39
Agg advances N/A N/A
Adv this period 0.00 0.00
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LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Realized losses 0.00 0.00
Cumulative losses 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 12,600,002.00 12,600,002.00
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 94.322637% 100.000000% 575,668,568.69
-----------------------------------------------------------------------------
Junior 5.677363% 0.000000% 34,650,000.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 33 1,046,157.69
60 to 89 days 8 503,481.45
90 or more 1 37,865.68
Foreclosure 0 0.00
Totals: 42 1,587,504.82
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 18,231,350.04 18,231,350.04
Principal remittance amount 14,397,698.16 14,397,698.16
Interest remittance amount 3,833,651.88 3,833,651.88