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 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)
, , N/A 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 December 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 December 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: December 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 December 25, 2002
Payment Date: 12/25/02
------------------------------------------------------------
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 176,759,195.01 1.530000% 28,893,616.50 232,880.24 29,126,496.74 0.00 0.00
A2A 54,050,259.66 4.670000% 3,114,015.64 210,345.59 3,324,361.23 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 466,059,454.67 3.505239% 0.00 1,361,377.21 1,361,377.21 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 - - 466,059,454.67 - 32,007,632.14 2,934,804.21 34,942,436.35 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 147,865,578.51 0.00
A2A 50,936,244.02 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 434,051,822.53 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M1 28,350,000.00 0.00
M2 6,300,000.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 434,051,822.53 -
- --------------------------------------------------------------------------------
Payment Date: 12/25/02
------------------------------------------------------------
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 176,759,195.01 1.530000% 126671PM2 88.971875 0.717106 455.321258
A2A 54,050,259.66 4.670000% 126671PS9 44.485938 3.004937 727.660629
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 466,059,454.67 3.505239% 126671PW0 0.000000 2.160916 688.971038
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 - - 466,059,454.67 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Securities, Series 2002-S1
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 434,051,822.53 434,051,822.53
Loan count 14062 14062
Avg loan rate 9.170346% 9.17
Prepay amount 31,212,295.93 31,212,295.93
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FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 164,539.80 164,539.80
Sub servicer fees 429,358.43 429,358.43
Trustee fees 3,495.45 3,495.45
Agg advances N/A N/A
Adv this period 63,634.23 63,634.23
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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 92.565326% 100.000000% 431,409,454.67
-----------------------------------------------------------------------------
Junior 7.434674% 0.000000% 34,650,000.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 131 4,583,790.14
60 to 89 days 24 873,162.12
90 or more 24 1,187,011.29
Foreclosure 0 0.00
Totals: 179 6,643,963.55
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 34,942,436.35 34,942,436.35
Principal remittance amount 32,007,632.14 32,007,632.14
Interest remittance amount 2,934,804.21 2,934,804.21