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 - September 25, 2002
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(Date of Earliest Event Reported)
EQUITY ONE ABS, INC.
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(as depositor under a certain Pooling and Servicing Agreement dated as of
July 31, 2002, providing for the issuance of
Mortgage Pass-Through Certificates, Series 2002-4)
(Exact Name of Registrant as specified in its charter)
Delaware 333-81506-03 52-2029487
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(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
103 Springer Building, 3411 Silverside Road, Wilmington, Delaware 19803
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(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 478-6160
Item 5. Other Events.
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Attached hereto as Annex A is a copy of the Statement to Certificateholders
sent to Class AF-1, AF-2, AF-3, AF-4, AV-1A, AV-1B, M-1, M-2 and B
Certificateholders with respect to the September 25, 2002 Distribution Date.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
EQUITY ONE ABS, INC.
By: /s/ James H. Jenkins
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James H. Jenkins,
Senior Vice President and CFO
Dated: September 26, 2002
3
ANNEX A
Page 1 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
Statement to Certificateholders
September 25, 2002
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DISTRIBUTION IN DOLLARS
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ORIGINAL BEGINNING ENDING
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
AF1 100,000,000.00 100,000,000.00 2,738,473.99 158,694.44 2,897,168.43 0.00 0.00 97,261,526.01
AF2 28,000,000.00 28,000,000.00 0.00 85,516.67 85,516.67 0.00 0.00 28,000,000.00
AF3 20,000,000.00 20,000,000.00 0.00 76,666.67 76,666.67 0.00 0.00 20,000,000.00
AF4 12,924,000.00 12,924,000.00 0.00 57,716.43 57,716.43 0.00 0.00 12,924,000.00
AV1A 50,000,000.00 50,000,000.00 755,791.58 81,763.89 837,555.47 0.00 0.00 49,244,208.42
AV1B 43,250,000.00 43,250,000.00 653,759.71 73,164.58 726,924.29 0.00 0.00 42,596,240.29
M1 19,668,000.00 19,668,000.00 0.00 85,572.19 85,572.19 0.00 0.00 19,668,000.00
M2 16,642,000.00 16,642,000.00 0.00 78,550.24 78,550.24 0.00 0.00 16,642,000.00
B 12,103,000.00 12,103,000.00 0.00 59,597.19 59,597.19 0.00 0.00 12,103,000.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
TOTALS 302,587,000.00 302,587,000.00 4,148,025.28 757,242.30 4,905,267.58 0.00 0.00 298,438,974.72
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
X 302,587,765.70 302,587,765.70 0.00 0.00 0.00 0.00 0.00 299,753,740.93
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
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CURRENT
BEGINNING ENDING PASS-THRU
CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE
- ------ --------- ----------------- ---------------- -------------- --------------- ---------------- ------- -----------
AF1 294751AZ5 1,000.00000000 27.38473990 1.58694440 28.97168430 972.61526010 AF1 1.970000 %
AF2 294751BA9 1,000.00000000 0.00000000 3.05416679 3.05416679 1,000.00000000 AF2 3.665000 %
AF3 294751BB7 1,000.00000000 0.00000000 3.83333350 3.83333350 1,000.00000000 AF3 4.600000 %
AF4 294751BC5 1,000.00000000 0.00000000 4.46583333 4.46583333 1,000.00000000 AF4 5.359000 %
AV1A 294751BD3 1,000.00000000 15.11583160 1.63527780 16.75110940 984.88416840 AV1A 2.030000 %
AV1B 294751BH4 1,000.00000000 15.11583145 1.69166659 16.80749803 984.88416855 AV1B 2.100000 %
M1 294751BE1 1,000.00000000 0.00000000 4.35083333 4.35083333 1,000.00000000 M1 5.221000 %
M2 294751BF8 1,000.00000000 0.00000000 4.72000000 4.72000000 1,000.00000000 M2 5.664000 %
B 294751BG6 1,000.00000000 0.00000000 4.92416674 4.92416674 1,000.00000000 B 5.909000 %
- ------ --------- ----------------- ---------------- -------------- --------------- ---------------- ------- -----------
TOTALS 1,000.00000000 13.70853764 2.50256059 16.21109823 986.29146236
- ------ --------- ----------------- ---------------- -------------- --------------- ----------------
- ------ --------- ----------------- ---------------- -------------- --------------- ---------------- ------- -----------
X N/A 1,000.00000000 0.00000000 0.00000000 0.00000000 990.63404046 X 0.000000 %
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IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
Peggy L Remy
JPMorgan Chase Bank - Structured Finance Services
450 West 33 Street, 14 Floor
New York, New York 10001
Tel: (212) 946-3232 / Fax: (212) 946-8302
Email: Peggy.l.remy@jpmorgan.com
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[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 2 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
September 25, 2002
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Sec. 4.03(a)(i) Funds Allocable to Certificate Principal
Group I Scheduled Principal 210,285.90
Group I Curtailments 28,099.97
Group I Prepayments 1,632,601.55
Group I Liquidation Proceeds 0.00
Group II Scheduled Principal 59,046.62
Group II Curtailments 2,822.48
Group II Prepayments 901,168.25
Group II Liquidation Proceeds 0.00
Extra Principal Distribution Amount 1,314,000.51
Sec. 4.03 (a)(ii) Interest Distribution Amounts
Interest Distribution - AF-1 158,694.44
Unpaid Interest - AF-1 0.00
Remaining Unpaid Interest - AF-1 0.00
Interest Distribution - AF-2 85,516.67
Unpaid Interest - AF-2 0.00
Remaining Unpaid Interest - AF-2 0.00
Interest Distribution - AF-3 76,666.67
Unpaid Interest - AF-3 0.00
Remaining Unpaid Interest - AF-3 0.00
Interest Distribution - AF-4 57,716.43
Unpaid Interest - AF-4 0.00
Remaining Unpaid Interest - AF-4 0.00
Interest Distribution - AV-1A 81,763.89
Unpaid Interest - AV-1A 0.00
Remaining Unpaid Interest - AV-1A 0.00
Interest Distribution - AV-1B 73,164.58
Unpaid Interest - AV-1B 0.00
Remaining Unpaid Interest - AV-1B 0.00
Interest Distribution - M-1 85,572.19
Unpaid Interest - M-1 0.00
Remaining Unpaid Interest - M-1 0.00
Interest Distribution - M-2 78,550.24
Unpaid Interest - M-2 0.00
Remaining Unpaid Interest - M-2 0.00
Interest Distribution - B 59,597.19
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 3 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
September 25, 2002
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Unpaid Interest - B 0.00
Remaining Unpaid Interest - B 0.00
Sec. 4.03(a)(iii) Available Funds Shortfall
Class AF-1 Available Funds Shortfall 0.00
Class AF-2 Available Funds Shortfall 0.00
Class AF-3 Available Funds Shortfall 0.00
Class AF-4 Available Funds Shortfall 0.00
Class AV-1A Available Funds Shortfall 0.00
Class AV-1B Available Funds Shortfall 0.00
Class M-1 Available Funds Shortfall 0.00
Class M-2 Available Funds Shortfall 0.00
Class B Available Funds Shortfall 0.00
Sec. 4.03(a)(v) Pool Principal Balances
Group I Beginning Pool Balance 209,323,753.41
Group I Ending Pool Balance 207,452,765.99
Group II Beginning Pool Balance 93,264,012.59
Group II Ending Pool Balance 92,300,975.24
Total Beginning Pool Balance 302,587,766.00
Total Ending Pool Balance 299,753,741.23
Sec. 4.03(a)(vi) Servicing Fee
Group I Servicing Fee 87,218.23
Group II Servicing Fee 38,860.01
Sec. 4.03(a)(viii) Delinquency Advances
Group I Delinquency Advances Included
in Current Distribution 54,979.49
Group I Recouped Advances Included
in Current Distribution 0.00
Group I Aggregate Amount of Advances
Outstanding 54,979.49
Group II Delinquency Advances Included
in Current Distribution 16,510.72
Group II Recouped Advances Included
in Current Distribution 0.00
Group II Aggregate Amount of Advances
Outstanding 16,510.72
Section 4.03(a)(ix) A Group I and Group II Loans Delinquent
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Group 1
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Period Number Principal Balance Percentage
0-30 days 195 17,827,477.87 8.59 %
31-60 days 14 1,217,316.70 0.59 %
61-90 days 0 0.00 0.00 %
91+days 0 0.00 0.00 %
Total 209 19,044,794.57 9.18 %
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[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 4 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
September 25, 2002
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Group 2
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Period Number Principal Balance Percentage
0-30 days 62 7,615,899.10 8.25 %
31-60 days 9 1,344,764.16 1.46 %
61-90 days 0 0.00 0.00 %
91+days 0 0.00 0.00 %
Total 71 8,960,663.26 9.71 %
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Sec. 4.03 (a)(ix) B Group I and Group II Loans in Foreclosure
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Group 1
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Number Principal Balance Percentage
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0 0.00 0.00 %
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Group 2
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Number Principal Balance Percentage
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0 0.00 0.00 %
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Sec. 4.03(a)(x),(xi) Group I and Group II Loans in REO
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Group 1
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Number Principal Balance Percentage
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0 0.00 0.00 %
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Group 2
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Number Principal Balance Percentage
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0 0.00 0.00 %
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Market Value of Group I REO Loans 0.00
Market Value of Group II REO Loans 0.00
Sec. 4.03(a)(xii) Aggregate Stated Principal Balance of the
Three Largest Loans
Group I Three Largest Loans 1,444,019.98
Group II Three Largest Loans 1,368,921.30
Sec. 4.03(a)(xiii) Net WAC Cap Carryover
Class AF-1 Net WAC Cap Carryover
Amounts Due 0.00
Class AF-1 Net WAC Cap Carryover Amounts
Paid 0.00
Class AF-1 Net WAC Cap Carryover Remaining
Amounts Due 0.00
Class AV-1A Net WAC Cap Carryover Amounts
Due 0.00
Class AV-1A Net WAC Cap Carryover Amounts
Paid 0.00
Class AV-1A Net WAC Cap Carryover Remaining
Amounts Due 0.00
Class AV-1B Net WAC Cap Carryover Amounts
Due 0.00
Class AV-1B Net WAC Cap Carryover Amounts
Paid 0.00
Class AV-1B Net WAC Cap Carryover Remaining
Amounts Due 0.00
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 5 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
September 25, 2002
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Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon Loans with
Original Terms <= 36 Months and 60+ Contractually
Past Due
Group I Aggregate Principal Balance
of Balloon Loans 0.00
Group II Aggregate Principal Balance
of Balloon Loans 0.00
Sec. 4.03 (a)(xv), Realized Losses
(xxii)
Group I Current Period Realized Losses 0.00
Group I Cumulative Realized Losses 0.00
Group II Current Period Realized Losses 0.00
Group II Cumulative Realized Losses 0.00
Sec. 4.03 (a)(xvi) Reserve Fund
Beginning Balance of Reserve Fund 0.00
Funds Withdrawn From Reserve Fund For
Distribution 0.00
Funds Deposited to Reserve Fund 0.00
Ending Balance of Reserve Fund 0.00
Sec. 4.03 (a)(xvii) Number of Loans Repurchased
Group I Number of Loans Repurchased 0.00
Group II Number of Loans Repurchased 0.00
Sec. 4.03 (a)(xviii) Weighted Average Mortgage Rate of Outstanding
Loans (as of first day of related Due Period)
Group I Weighted Average Mortgage Rate 8.78
Group II Weighted Average Mortgage Rate 8.67
Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding Loans
Group I Weighted Average Remaining Term 242.00
Group II Weighted Average Remaining Term 356.00
Sec. 4.03 (a)(xx), Overcollateralization Amounts
(xxii),(xxiii)
Overcollateralization Amount 1,314,766.51
Overcollateralization Target
Amount 12,103,510.64
Overcollateralization Release Amount 0.00
Overcollateralization Deficiency
Amount 10,788,744.13
Sec. 4.03 (a)(xxiv) Trigger Events
Has a Trigger Event Occurred and is
continuing? NO
Cumulative Realized Losses as a percentage
of the Original Pool Balance 0.00 %
Senior Enhancement Percentage 0.16 %
Senior Specified Enhancement Percentage 0.40 %
Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans
60+ Day Delinquent Loans as a percentage
of the current Pool Balance 0.00 %
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 6 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
September 25, 2002
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Sec. 4.03 (a)(xxvi) Amount of Funds Collected by Trustee
under Yield Maintenance Agreement 0.00
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.