8-K 1 csfb02ht31102.txt CSFB02HT3,8K,1102 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):25-Nov-02 Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust Mortgage Pass-Through Certificates, HEAT Series 2002-3 (Exact name of registrant as specified in its charter) Delaware 333-77054-26 13-3320910 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 11 Madison Avenue, 5th Floor New York, New York 10010 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (212) 325-2000 Item 5. Other Events On 25-Nov-02 a scheduled distribution was made from the Trust to holders of the Certificates. The Trustee has caused to be filed with the Commission, the Monthly Report dated 25-Nov-02 The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area. A. Monthly Report Information See Exhibit No.1 B. Have and deficiencies occurred? NO. Date: Amount: C. Item 1: Legal Proceedings: NONE D. Item 2: Changes in Securities: NONE E. Item 4: Submission of Matters to a Vote of Certificateholders: NONE F. Item 5: Other Information - Form 10-Q, PartII - Items 1,2,4,5 if applicable: NOT APPLICABLE Item 7. Monthly Statements and Exhibits Exhibit No. 1.) Monthly Distribution Report Dated 25-Nov-02 Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust Mortgage Pass-Through Certificates, HEAT Series 2002-2 STATEMENT TO CERTIFICATEHOLDERS Distribution Date: 25-Nov-02 DISTRIBUTION SUMMARY Beginning Current Perio Accrued Original Current Principa Principal Pass-Through Interest Class Face Value Amount Distribution Rate Distributed (1) A-1 275,000,000 274,513,248 1,216,350 2.18000% 515,322 A-2 130,000,000 129,501,659 1,119,205 2.21000% 246,449 A-3 38,700,000 38,337,169 814,867 2.02000% 66,685 A-4 55,950,000 55,950,000 0 2.29000% 110,330 A-5 20,000,000 19,923,332 172,185 2.27000% 38,945 A-IO 389,737,500 388,669,056 0 6.17000% 2,040,583 M-1 38,500,000 38,500,000 0 2.73000% 90,507 M-2 29,200,000 29,200,000 0 3.53000% 88,760 B-1 21,500,000 21,500,000 0 4.18000% 77,388 B-2 6,150,000 6,150,000 0 5.08000% 26,903 X 615,000,050 613,575,408 0 2.27000% 692,455 R 50 0 0 1.83000% 0 Total 615,000,050 613,575,408 3,322,608 0.00000% 3,994,327 Certificate Ending Realized Loss Interest Current Prin Principal Shortfall Amount Class A-1 N/A 0 273,296,897 A-2 N/A 0 128,382,454 A-3 N/A 0 37,522,302 A-4 N/A 0 55,950,000 A-5 N/A 0 19,751,147 A-IO N/A 0 386,177,100 M-1 0.00 0 38,500,000 M-2 0.00 0 29,200,000 B-1 0.00 0 21,500,000 B-2 0.00 0 6,150,000 X N/A 0 610,252,800 R N/A 0 0 Total 0 0 610,252,800 AMOUNTS PER $1,000 UNIT Interest Ending Prin Int Carry-forward Curr Prin Class Cusip Distribution Distribution Amount Amount A-1 22541NHB8 4.42309262 1.87389953 0.00000000 993.80689938 A-2 22541NHC6 8.60926931 1.89576038 0.00000000 987.55733869 A-3 22541NHD4 21.05600362 1.72313643 0.00000000 969.56852997 A-4 22541NHE2 0.00000000 1.97194441 0.00000000 1000.00000000 A-5 22541NHN2 8.60926950 1.94722900 0.00000000 987.55733850 A-IO 22541NHF9 0.00000000 5.23578693 0.00000000 990.86462088 M-1 22541NHH5 0.00000000 2.35083325 0.00000000 1000.00000000 M-2 22541NHJ1 0.00000000 3.03972226 0.00000000 1000.00000000 B-1 22541NHK8 0.00000000 3.59944465 0.00000000 1000.00000000 B-2 22541NHL6 0.00000000 4.37444390 0.00000000 1000.00000000 X 22541NHM4 0.00000000 1.12594249 0.00000000 992.28089533 R 22541NHG7 0.00000000 0.00000000 0.00000000 0.00000000 GROUP 1 GROUP 2 TOTAL Beginning Balance 290,962,437.41 230,820,626.69 521,783,064.10 Scheduled Principal 182,437.13 156,846.48 339,283.61 Prepayments (Incl.Curt) 1,033,913.34 1,949,411.26 2,983,324.60 Net Liquidation Proceeds 0.00 0.00 0.00 Loan Purchase Prices 0.00 0.00 0.00 Total Principal Remittance 1,216,350.47 2,106,257.74 3,322,608.21 Net Realized Losses 0.00 0.00 0.00 Ending Balance 289,746,086.94 8,714,368.95 518,460,455.89 Aggregate Ending Collateral Balance 323,740,684 286,512,116 610,252,800 Ending Overcollateralization Amount 0.00 Prefunding Account: Beginning Balance 33,994,597.37 57,797,746.98 91,792,344.35 Subsequent Transfer 0.00 0.00 0.00 Added to available certificate princi 0.00 0.00 0.00 Amount on Deposit in Prefunding Acct33,994,597.35 7,797,746.98 91,792,344.35 Interest Distributions: Scheduled Interest(Net of Serv. Fee) 1,978,491.33 1,523,851.31 3,502,342.63 Less Relief Act Interest Shortfall 0.00 0.00 0.00 Less Net Prepayment Interest Shortfal 0.00 0.00 0.00 1,978,491.33 1,523,851.31 3,502,342.63 Capitalized Interest Account: 1,051,170.30 less: Capitalized Interest Requirement 179,947.56 305,947.54 485,895.10 less: Withdrawal of Overfunded Interest Amount to Depositor 0.00 Ending Balance 0.00 0.00 565,275.20 Servicing Fee 121,234.35 96,175.26 217,409.62 Trustee Fee 1,212.34 961.75 2,174.09 FSA Premium 13,725.66 8,391.94 22,117.60 Credit Risk Manager Fee 4,243.20 3,366.13 7,609.33 LPMI 3,637.91 547.99 4,185.90 TOTAL Advances Current Aggregate Advances as of deter. Not Available Outstanding Aggregate Advances as of end 454,399.14 Has Fairbanks failed the Termination Test NO Delinquency Information 30-59 days delinquent 60-89 days delinquent Count Balance Count Balance Group 1 5 673522.44 2 191401.01 Group 2 14 1574523.66 3 504132.66 Total 19 2248046.1 5 695533.67 *Note: The above statistics do not include loans in foreclosure or bankruptcy proceedings or REO properties. 90 or more days delinquent Count Balance Group 1 1 99,197.54 Group 2 2 229,075.08 Total 3 328,272.62 *Note: The above statistics do not include loans in foreclosure or bankruptcy proceedings or REO properties. Outstanding Loans Foreclosure Count Balance Count Balance Group 1 2278 289746086.9 0.00 0.00 Group 2 1481 228714369 0.00 0.00 Total 3759 518460455.9 0.00 0.00 Bankruptcy REO Count Balance Count Balance Group 1 0.00 0.00 0.00 0.00 Group 2 0.00 0.00 0.00 0.00 Total 0.00 0.00 0.00 0.00 Number of Loans for which Prepayment Premiums were collected 8.00 Principal Balance of Loans for which Prepayment Premiums were 1,112,685.32 Current amount of Prepayment Premiums 42,175.78 Current Delinquency Rate (60+days) 0.16777% Rolling Three Month Delinquency Rate (60+days) 0.08388% Number of Loans Repurchased 0.00 Principal Balance of Loans Repurchased 0.00 Realized Losses incurred during the related Due Period 0.00 Cumulative Realized Losses since Startup Day 0.00 Weighted Average Term to Maturity of Mortgage Loans 352.00 Weighted Average Gross Coupon of Mortgage Loans 8.55471% Weighted Average Net Coupon of Mortgage Loans 8.02258% Insured Payment on Class As 0.00 Senior Enhancement Percentage 15.54006% Net Excess Spread 1.85308% Deposit to Basis Risk Reserve Fund 0.00 Basis Risk Reserve Fund Balance 5,000.00 Interest Rate Cap Account Beginning Balance 0.00 Deposits 0.00 Withdrawals 0.00 Ending Balance 0.00 Target Amount for the preceding Distribution Date 6,150,000.50 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. Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust Mortgage Pass-Through Certificates, HEAT Series 2002-3 By: /s/ Sheryl Christopherson Name: Sheryl Christopherson Title: Vice President US Bank, NA

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) November 15, 2002

Credit Suisse First Boston Mortgage Securities Corp.

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation) 333-77054 (Commission File Number) 13-3320910 (IRS Employer ID Number)

11 Madison Avenue, New York, N.Y. 10010

(Address of principal executive offices) (Zip Code)

Registrant’s Telephone Number,

including area code:

(212) 325-2000

N/A

(Former name or former address, if changed since last report)

Item 5. Other Events.

This Current Report on Form 8-K is being filed to file a copy of the Pooling and Servicing Agreement dated as of September 1, 2002, among Credit Suisse First Boston Mortgage Securities Corp., as depositor, DLJ Mortgage Capital, Inc., as seller, Fairbanks Capital Corp., as servicer and special servicer, and U.S. Bank National Association, as trustee (the “Pooling and Servicing Agreement”), in connection with the issuance by Home Equity Asset Trust 2002-3 of Home Equity Pass-Through Certificates, Series 2002-3.

Item 7.

Financial Statements, Pro Forma Financial Information and Exhibits.

(q)

Not applicable.

(r)

Not applicable.

(s)

Exhibits:

4.1

Pooling and Servicing Agreement

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.

CREDIT SUISSE FIRST BOSTON MORTGAGE

CORP.

By:

/s/ Brian Simons_____

Name:

Brian Simons

Title:

Vice President

Dated: November 15, 2002

Filing Compare · HOME EQUITY ASSET TRUST 2002-3