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 - October 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
March 31, 2002, providing for the issuance of
Mortgage Pass-Through Certificates, Series 2002-2)
(Exact Name of Registrant as specified in its charter)
Delaware 333-81506-01 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-1 and A-IO Certificateholders with
respect to the October 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: October 28, 2002
3
ANNEX A
Page 1 of 5
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Equity One Mortgage Pass-Through Trust 2002-2
Statement to Certificateholders
October 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 89,800,000.00 75,958,711.20 2,784,720.52 124,303.27 2,909,023.79 0.00 0.00 73,173,990.68
AF2 32,200,000.00 32,200,000.00 0.00 134,837.50 134,837.50 0.00 0.00 32,200,000.00
AF3 37,700,000.00 37,700,000.00 0.00 181,368.42 181,368.42 0.00 0.00 37,700,000.00
AF4 30,282,000.00 30,282,000.00 0.00 165,011.67 165,011.67 0.00 0.00 30,282,000.00
AV1 97,570,000.00 89,780,677.05 1,810,750.52 156,648.58 1,967,399.10 0.00 0.00 87,969,926.53
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
TOTALS 287,552,000.00 265,921,388.25 4,595,471.04 762,169.44 5,357,640.48 0.00 0.00 261,325,917.21
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ---------------
AIO 19,000,000.00 19,000,000.00 0.00 95,000.00 95,000.00 0.00 0.00 19,000,000.00
X 287,553,584.06 270,990,625.45 0.00 11.76 11.76 0.00 0.00 267,354,886.18
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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 294754AV8 845.86538085 31.01025078 1.38422350 32.39447428 814.85513007 AF1 1.963750 %
AF2 294754AW6 1,000.00000000 0.00000000 4.18750000 4.18750000 1,000.00000000 AF2 5.025000 %
AF3 294754AX4 1,000.00000000 0.00000000 4.81083342 4.81083342 1,000.00000000 AF3 5.773000 %
AF4 294754AY2 1,000.00000000 0.00000000 5.44916683 5.44916683 1,000.00000000 AF4 6.539000 %
AV1 294754AZ9 920.16682433 18.55847617 1.60549944 20.16397561 901.60834816 AV1 2.093750 %
- ------ --------- ----------------- ---------------- -------------- --------------- ---------------- ------- -----------
TOTALS 924.77669517 15.98135655 2.65054474 18.63190129 908.79533862
- ------ --------- ----------------- ---------------- -------------- --------------- ----------------
- ------ --------- ----------------- ---------------- -------------- --------------- ---------------- ------- -----------
AIO 294754BA3 1,000.00000000 0.00000000 5.00000000 5.00000000 1,000.00000000 AIO 6.000000 %
X N/A 942.40044455 0.00000000 0.00004090 0.00004090 929.75675144 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 5
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Equity One Mortgage Pass-Through Trust 2002-2
October 25, 2002
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Sec. 4.03(a)(i) Funds Allocable to Certificate Principal
Group I Scheduled Principal 174,064.34
Group I Curtailments 25,585.78
Group I Prepayments 2,078,169.20
Group I Liquidation Proceeds 0.00
AF Available Distributable Excess
Spread 506,901.20
Group II Scheduled Principal 59,452.69
Group II Curtailments 2,337.56
Group II Prepayments 1,296,129.70
Group II Liquidation Proceeds 0.00
AV-1 Available Distributable Excess
Spread 452,830.57
Sec. 4.03 (a)(ii) Interest Distribution Amounts
Interest Distribution - AF-1 124,303.27
Unpaid Interest - AF-1 0.00
Remaining Unpaid Interest - AF-1 0.00
Interest Distribution - AF-2 134,837.50
Unpaid Interest - AF-2 0.00
Remaining Unpaid Interest - AF-2 0.00
Interest Distribution - AF-3 181,368.42
Unpaid Interest - AF-3 0.00
Remaining Unpaid Interest - AF-3 0.00
Interest Distribution - AF-4 165,011.67
Unpaid Interest - AF-4 0.00
Remaining Unpaid Interest - AF-4 0.00
Interest Distribution - AV-1 156,648.58
Unpaid Interest - AV-1 0.00
Remaining Unpaid Interest - AV-1 0.00
Sec. 4.03(a)(iii) Available Funds Shortfall
Class AF Available Funds Shortfall 0.00
Class AV-1 Available Funds Shortfall 0.00
Sec. 4.03(a)(v) Pool Principal Balances
Group I Beginning Pool Balance 178,860,208.29
Group I Ending Pool Balance 176,582,388.97
Group II Beginning Pool Balance 92,130,417.16
Group II Ending Pool Balance 90,772,497.21
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 3 of 5
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Equity One Mortgage Pass-Through Trust 2002-2
October 25, 2002
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Sec. 4.03(a)(vi) Servicing Fee
Group I Servicing Fee 74,525.09
Group II Servicing Fee 38,387.67
Sec. 4.03(a)(viii) Delinquency Advances
Group I Delinquency Advances Included
in Current Distribution 52,156.78
Group I Recouped Advances Included
in Current Distribution 0.00
Group I Aggregate Amount of Advances
Outstanding 272,672.19
Group II Delinquency Advances Included
in Current Distribution 29,666.94
Group II Recouped Advances Included
in Current Distribution 0.00
Group II Aggregate Amount of Advances
Outstanding 155,541.03
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 251 28,411,515.71 16.09 %
31-60 days 23 2,176,575.81 1.23 %
61-90 days 12 870,958.39 0.49 %
91+days 10 1,217,575.10 0.69 %
Total 296 32,676,625.01 18.50 %
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Group 2
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Period Number Principal Balance Percentage
0-30 days 84 9,496,319.82 10.46 %
31-60 days 15 1,651,197.78 1.82 %
61-90 days 5 451,337.52 0.50 %
91+days 2 256,894.34 0.28 %
Total 106 11,855,749.46 13.06 %
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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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7 1,020,716.63 0.58 %
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Group 2
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Number Principal Balance Percentage
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7 668,112.78 0.74 %
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[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 4 of 5
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Equity One Mortgage Pass-Through Trust 2002-2
October 25, 2002
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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 1,383,184.38
Group II Three Largest Loans 1,425,237.55
Sec. 4.03(a)(xiii) Net WAC Cap Carryover
Class AF Net WAC Cap Carryover Amounts
Due 0.00
Class AF Net WAC Cap Carryover Amounts
Paid 0.00
Class AF Net WAC Cap Carryover Remaining
Amounts Due 0.00
Class AV-1 Net WAC Cap Carryover Amounts
Due 0.00
Class AV-1 Net WAC Cap Carryover Amounts
Paid 0.00
Class AV-1 Net WAC Cap Carryover
Remaining Amounts Due 0.00
Sec. 4.03(a)(xiv) Aggregate Principal Balance of Balloon
Loans w/ Original Terms <= 36 Months 60+ Delinquent
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), Loan Losses
(xxii)
Group I Current Period Loan Losses 0.00
Group I Cumulative Loan Losses 0.00
Group II Current Period Loan Losses 0.00
Group II Cumulative Loan Losses 0.00
Sec. 4.03 (a)(xvi) Reserve Fund
Beginning Balance of Reserve Fund 0.00
Funds Withdrawn From Reserve Fund For
Distribution to Class AV-1 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
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.
Page 5 of 5
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Equity One Mortgage Pass-Through Trust 2002-2
October 25, 2002
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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 8.81
Group II Weighted Average Mortgage Rate 8.64
Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding
Loans
Group I Weighted Average Remaining Term 237.00
Group II Weighted Average Remaining Term 352.00
Sec. 4.03 (a)(xx) Overcollateralization Amounts
Class AF Overcollateralization Target
Amount 6,649,400.71
Class AF Overcollateralization
Amount 3,226,398.29
Class AV-1 Overcollateralization
Target Amount 6,829,949.47
Class AV-1 Overcollateralization
Amount 2,802,570.68
Sec. 4.03 (a)(xxi) Distributable Excess Spread Included in Distribution
Class AF Distributable Excess Spread 506,901.20
Class AV-1 Distributable Excess
Spread 452,830.57
Sec. 4.03 (a)(xxiii) Amount of Funds Collected by Trustee under Yield
Maintenance Agreement 0.00
Sec. 4.03 (a)(xxiv) Cross-Collateralization Amounts
Class AF Cross-Collateralization Amount 0.00
Class AV-1 Cross-Collateralization Amount 0.00
[JPMORGAN
LOGO] Copyright (c) 2001 J.P. Morgan Chase & Co. All rights reserved.