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 - December 26, 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 December 26, 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: December 27, 2002
3
ANNEX A
Page 1 of 6
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Equity One Mortgage Pass-Through Trust 2002-4
Statement to Certificateholders
December 26, 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 90,907,429.60 3,987,142.54 120,553.35 4,107,695.89 0.00 0.00 86,920,287.06
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 47,408,764.81 661,697.56 65,318.74 727,016.30 0.00 0.00 46,747,067.25
AV1B 43,250,000.00 41,008,581.56 572,368.39 58,972.62 631,341.01 0.00 0.00 40,436,213.17
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 302,587,000.00 288,661,775.97 5,221,208.49 688,464.10 5,909,672.59 0.00 0.00 283,440,567.48
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ----------------
- ------- ---------------- --------------- -------------- ------------- --------------- --------- -------- ----------------
X 302,587,765.70 292,529,074.36 0.00 10.21 10.21 0.00 0.00 288,619,401.88
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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 909.07429600 39.87142540 1.20553350 41.07695890 869.20287060 AF1 1.540000 %
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 948.17529620 13.23395120 1.30637480 14.54032600 934.94134500 AV1A 1.600000 %
AV1B 294751BH4 948.17529618 13.23395121 1.36352879 14.59748000 934.94134497 AV1B 1.670000 %
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 953.97943722 17.25523069 2.27526001 19.53049070 936.72420653
- ------ --------- ----------------- ---------------- -------------- --------------- ----------------
- ------ --------- ----------------- ---------------- -------------- --------------- ---------------- ------- -----------
X N/A 966.75777252 0.00000000 0.00003374 0.00003374 953.83698416 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
4 New York Plaza, 6th Floor
New York, New York 10004
Tel: (212) 623-4483 / Fax: (212) 623-5930
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
December 26, 2002
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Sec. 4.03(a)(i) Funds Allocable to Certificate Principal
Group I Scheduled Principal 209,697.97
Group I Curtailments 24,834.67
Group I Prepayments 2,751,063.80
Group I Liquidation Proceeds 0.00
Group II Scheduled Principal 58,267.57
Group II Curtailments 2,986.67
Group II Prepayments 862,821.80
Group II Liquidation Proceeds 0.00
Extra Principal Distribution Amount 1,311,536.01
Sec. 4.03 (a)(ii) Interest Distribution Amounts
Interest Distribution - AF-1 120,553.35
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 65,318.74
Unpaid Interest - AV-1A 0.00
Remaining Unpaid Interest - AV-1A 0.00
Interest Distribution - AV-1B 58,972.62
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
December 26, 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 202,765,132.50
Group I Ending Pool Balance 199,779,536.06
Group II Beginning Pool Balance 89,763,942.16
Group II Ending Pool Balance 88,839,866.12
Total Beginning Pool Balance 292,529,074.66
Total Ending Pool Balance 288,619,402.18
Sec. 4.03(a)(vi) Servicing Fee
Group I Servicing Fee 84,485.47
Group II Servicing Fee 37,401.64
Sec. 4.03(a)(viii) Delinquency Advances
Group I Delinquency Advances Included
in Current Distribution 23,152.58
Group I Recouped Advances Included
in Current Distribution 0.00
Group I Aggregate Amount of Advances
Outstanding 103,408.85
Group II Delinquency Advances Included
in Current Distribution 16,289.79
Group II Recouped Advances Included
in Current Distribution 0.00
Group II Aggregate Amount of Advances
Outstanding 48,417.54
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 217 20,908,743.07 10.47 %
31-60 days 11 797,781.48 0.40 %
61-90 days 8 684,808.30 0.34 %
91+days 6 297,772.68 0.15 %
Total 242 22,689,105.53 11.36 %
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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
December 26, 2002
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Group 2
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Period Number Principal Balance Percentage
0-30 days 73 9,619,930.10 10.83 %
31-60 days 8 754,131.85 0.85 %
61-90 days 4 627,485.11 0.71 %
91+days 3 396,266.86 0.45 %
Total 88 11,397,813.92 12.84 %
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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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2 309,948.61 0.16 %
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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 1,440,938.61
Group II Three Largest Loans 1,351,068.59
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
December 26, 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 8.77
Group II Weighted Average Mortgage Rate 8.66
Sec. 4.03 (a)(xix) Weighted Average Remaining Term of Outstanding
Loans
Group I Weighted Average Remaining Term 239.00
Group II Weighted Average Remaining Term 353.00
Sec. 4.03 (a)(xx), Overcollateralization Amounts
(xxii),(xxiii)
Overcollateralization Amount 5,178,834.70
Overcollateralization Target
Amount 12,103,510.64
Overcollateralization Release
Amount 0.00
Overcollateralization Deficiency
Amount 6,924,675.94
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 18.11 %
Senior Specified Enhancement Percentage 40.00 %
Sec. 4.03 (a)(xxv) 60+ Day Delinquent Loans
60+ Day Delinquent Loans as a percentage
of the current Pool Balance 0.80 %
[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
December 26, 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.