8-K 1 d290053.txt BEAR STEARNS ASSET BACKED SECURITIES INC UNITED STATES 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 7, 2004 BEAR STEARNS ASSET BACKED SECURITIES, INC. -------------------------------------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

~~Bear~~Delaware ~~Stearns Asset Backed Securities Mortgage Pass~~333-~~Through~~91334 ~~Certificates Record Date: 11/30/02 Distribution Date: 12/26/02 BSA Series: 2002~~13-~~AC3~~3836437 ~~Contact: Customer Service~~ - ~~CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815~~-~~6600 Fax: (301) 815~~-~~6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass~~-~~Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A~~-~~1 07384YEC6 SEN 1.53000% 51,810,857.97 68,260.81 12,790,734.35 A~~-~~2 07384YED4 SEN 5.49000% 56,316,000.00 257,645.70 0.00 A~~-~~3 07384YEE2 SEN 6.40000% 48,522,000.00 258,784.00 0.00 A~~-~~4 07384YEF9 SEN 6.68000% 15,804,000.00 87,975.60 0.00 A~~-5--------------------- ~~07384YEG7 SEN 6.74000% 23,249,000.00 130,581.88 0.00 A~~-IO----------------------- ~~07384YEH5 IO 8.00000% 0.00 173,120.00 0.00 M~~-1-------------------------- ~~07384YEJ1~~(STATE ~~MEZ~~OR ~~6.65000%~~OTHER ~~9,087,000.00~~JURISDICTION ~~50,357.13~~(COMMISSION 0(I.~~00 M-2 07384YEK8 MEZ 6~~R.~~96040% 4,544,000~~S.00 ~~26,356.73~~EMPLOYER ~~0.00~~OF BINCORPORATION) ~~07384YEL6~~FILE ~~SUB~~NUMBER) ~~6.96040%~~IDENTIFICATION ~~3,245,000~~NO.00) ~~18,822.09~~383 ~~0.00~~Madison ~~B-IO~~Avenue ~~07383GBZ8~~New ~~OC 0.00000% 209.93 344~~York,~~161.22~~ ~~0.00~~New ~~R-I~~York ~~07383GBT2~~10179 ~~RES 0.00000% 0.00 0.00 0.00 R~~-II----------------------------- ~~07383GBV7 RES 0.00000% 0.00 0.00 0.00 R~~-~~III~~-------------------------- ~~07383GBX3~~(ADDRESS ~~RES~~OF ~~0.00000%~~PRINCIPAL ~~0.00~~(ZIP ~~0.00~~CODE) ~~0.00~~EXECUTIVE ~~Totals 212,578,067.90 1,416,065.16 12,790,734.35~~OFFICES)

Registrant's telephone number, including area code, is (212) 272-2000 -------------------------------------------------------------------------------- Item 9.01. Financial Statements Pro Forma Financial Information and Exhibits. ----------------------------------------------------------------- (a) Not applicable (b) Not applicable (c) Exhibits: 1. Amendment No. 3 to the Pooling and Servicing Agreement, dated as of June 1, 2002, among Bear Stearns Asset Backed Securities, Inc., as depositor, EMC Mortgage Corporation, as seller and company, Wells Fargo, National Association (as successor to Wells Fargo Bank Minnesota, National Association), as master servicer and securities administrator, and JPMorgan Chase Bank (as successor to Bank One, National Association), as trustee. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized. BEAR STEARNS ASSET BACKED SECURITIES, INC. By: /s/ Baron Silverstein --------------------------------- Name: Baron Silverstein Title: Vice President Dated: December 7, 2004 EXHIBITS

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 39,020,123.62 12,858,995.16 0.00 A-2 0.00 56,316,000.00 257,645.70 0.00 A-3 0.00 48,522,000.00 258,784.00 0.00 A-4 0.00 15,804,000.00 87,975.60 0.00 A-5 0.00 23,249,000.00 130,581.88 0.00 A-IO 0.00 0.00 173,120.00 0.00 M-1 0.00 9,087,000.00 50,357.13 0.00 M-2 0.00 4,544,000.00 26,356.73 0.00 B 0.00 3,245,000.00 18,822.09 0.00 B-IO 0.00 209.93 344,161.22 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 Totals 0.00 199,787,333.55 14,206,799.51 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 98,866,000.00 51,810,857.97 0.00 12,790,734.35 0.00 0.00 A-2 56,316,000.00 56,316,000.00 0.00 0.00 0.00 0.00 A-3 48,522,000.00 48,522,000.00 0.00 0.00 0.00 0.00 A-4 15,804,000.00 15,804,000.00 0.00 0.00 0.00 0.00 A-5 23,249,000.00 23,249,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 9,087,000.00 9,087,000.00 0.00 0.00 0.00 0.00 M-2 4,544,000.00 4,544,000.00 0.00 0.00 0.00 0.00 B 3,245,000.00 3,245,000.00 0.00 0.00 0.00 0.00 B-IO 209.93 209.93 0.00 0.00 0.00 0.00 R-I 0.00 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 0.00 Totals 259,633,209.93 212,578,067.90 0.00 12,790,734.35 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 12,790,734.35 39,020,123.62 0.39467687 12,790,734.35 A-2 0.00 56,316,000.00 1.00000000 0.00 A-3 0.00 48,522,000.00 1.00000000 0.00 A-4 0.00 15,804,000.00 1.00000000 0.00 A-5 0.00 23,249,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 9,087,000.00 1.00000000 0.00 M-2 0.00 4,544,000.00 1.00000000 0.00 B 0.00 3,245,000.00 1.00000000 0.00 B-IO 0.00 209.93 1.00000000 0.00 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 R-III 0.00 0.00 0.00000000 0.00 Totals 12,790,734.35 199,787,333.55 0.76949838 12,790,734.35

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 98,866,000.00 524.05132169 0.00000000 129.37444976 0.00000000 A-2 56,316,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 48,522,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 15,804,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-5 23,249,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 9,087,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 4,544,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 3,245,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 209.93 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000 Per $1000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 129.37444976 394.67687193 0.39467687 129.37444976 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 98,866,000.00 1.53000% 51,810,857.97 68,260.81 0.00 0.00 A-2 56,316,000.00 5.49000% 56,316,000.00 257,645.70 0.00 0.00 A-3 48,522,000.00 6.40000% 48,522,000.00 258,784.00 0.00 0.00 A-4 15,804,000.00 6.68000% 15,804,000.00 87,975.60 0.00 0.00 A-5 23,249,000.00 6.74000% 23,249,000.00 130,581.88 0.00 0.00 A-IO 0.00 8.00000% 25,968,000.00 173,120.00 0.00 0.00 M-1 9,087,000.00 6.65000% 9,087,000.00 50,357.13 0.00 0.00 M-2 4,544,000.00 6.96040% 4,544,000.00 26,356.73 0.00 0.00 B 3,245,000.00 6.96040% 3,245,000.00 18,822.09 0.00 0.00 B-IO 209.93 0.00000% 209.93 0.00 0.00 0.00 R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 259,633,209.93 1,071,903.94 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 68,260.81 0.00 39,020,123.62 A-2 0.00 0.00 257,645.70 0.00 56,316,000.00 A-3 0.00 0.00 258,784.00 0.00 48,522,000.00 A-4 0.00 0.00 87,975.60 0.00 15,804,000.00 A-5 0.00 0.00 130,581.88 0.00 23,249,000.00 A-IO 0.00 0.00 173,120.00 0.00 25,968,000.00 M-1 0.00 0.00 50,357.13 0.00 9,087,000.00 M-2 0.00 0.00 26,356.73 0.00 4,544,000.00 B 0.00 0.00 18,822.09 0.00 3,245,000.00 B-IO 0.00 0.00 344,161.22 0.00 209.93 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 R-III 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,416,065.16 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 98,866,000.00 1.53000% 524.05132169 0.69043766 0.00000000 0.00000000 A-2 56,316,000.00 5.49000% 1000.00000000 4.57500000 0.00000000 0.00000000 A-3 48,522,000.00 6.40000% 1000.00000000 5.33333333 0.00000000 0.00000000 A-4 15,804,000.00 6.68000% 1000.00000000 5.56666667 0.00000000 0.00000000 A-5 23,249,000.00 6.74000% 1000.00000000 5.61666652 0.00000000 0.00000000 A-IO 0.00 8.00000% 1000.00000000 6.66666667 0.00000000 0.00000000 M-1 9,087,000.00 6.65000% 1000.00000000 5.54166722 0.00000000 0.00000000 M-2 4,544,000.00 6.96040% 1000.00000000 5.80033671 0.00000000 0.00000000 B 3,245,000.00 6.96040% 1000.00000000 5.80033590 0.00000000 0.00000000 B-IO 209.93 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 Per $1000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 0.69043766 0.00000000 394.67687193 A-2 0.00000000 0.00000000 4.57500000 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 5.33333333 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 5.56666667 0.00000000 1000.00000000 A-5 0.00000000 0.00000000 5.61666652 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 6.66666667 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 5.54166722 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 5.80033671 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.80033590 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 1639409.42218835 0.00000000 1000.00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-III 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 14,179,222.91 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 60,958.84 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 14,240,181.75 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 33,382.24 Payment of Interest and Principal 14,206,799.51 Total Withdrawals (Pool Distribution Amount) 14,240,181.75 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 25,998.73 Servicing Fee Support 21,588.04 Non-Supported Prepayment/Curtailment Interest Shortfall 4,410.69

SERVICING FEES Gross Servicing Fee 50,264.84 Master Servicing Fee 3,542.99 MBIA Insurance Fee 1,162.45 Supported Prepayment/Curtailment Interest Shortfall 21,588.04 Net Servicing Fee 33,382.24

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 0.00 34,575.35 34,575.35 0.00 Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund 0.00 0.00 0.00 0.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 2,148,373.72 0.00 0.00 0.00 2,148,373.72 60 Days 4 0 0 0 4 2,254,504.29 0.00 0.00 0.00 2,254,504.29 90 Days 6 0 0 0 6 2,377,887.73 0.00 0.00 0.00 2,377,887.73 120 Days 3 0 0 0 3 686,970.50 0.00 0.00 0.00 686,970.50 150 Days 2 0 0 0 2 392,252.73 0.00 0.00 0.00 392,252.73 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 25 0 0 0 25 7,859,988.97 0.00 0.00 0.00 7,859,988.97 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.543210% 0.000000% 0.000000% 0.000000% 1.543210% 1.074470% 0.000000% 0.000000% 0.000000% 1.074470% 60 Days 0.617284% 0.000000% 0.000000% 0.000000% 0.617284% 1.127549% 0.000000% 0.000000% 0.000000% 1.127549% 90 Days 0.925926% 0.000000% 0.000000% 0.000000% 0.925926% 1.189257% 0.000000% 0.000000% 0.000000% 1.189257% 120 Days 0.462963% 0.000000% 0.000000% 0.000000% 0.462963% 0.343576% 0.000000% 0.000000% 0.000000% 0.343576% 150 Days 0.308642% 0.000000% 0.000000% 0.000000% 0.308642% 0.196178% 0.000000% 0.000000% 0.000000% 0.196178% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 3.858025% 0.000000% 0.000000% 0.000000% 3.858025% 3.931031% 0.000000% 0.000000% 0.000000% 3.931031%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 60,958.84

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 8.303973% Weighted Average Net Coupon 8.020228% Weighted Average Pass-Through Rate 8.000228% Weighted Average Maturity(Stepdown Calculation ) 325 Beginning Scheduled Collateral Loan Count 683 Number Of Loans Paid In Full 35 Ending Scheduled Collateral Loan Count 648 Beginning Scheduled Collateral Balance 212,578,067.90 Ending Scheduled Collateral Balance 199,787,333.55 Ending Actual Collateral Balance at 30-Nov-2002 199,947,290.34 Monthly P &I Constant 1,644,695.91 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 199,787,333.55 Scheduled Principal 169,249.83 Unscheduled Principal 12,621,484.52 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,298,387.00 Overcollateralized Amount 209.93 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 344,161.22

Miscellaneous Reporting Rolling 3 Month 60+Days DLQs Average 2.077914% Triger Event Exists? NO Prepayment Charges Remitted 34,575.35

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC ASST BK CERT SER 2002-AC3