8-K 1 csfb02ar27_8koct02.txt OCTOBER 25, 2002 PDS 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) : October 25, 2002 CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (as company under a Pooling and Servicing Agreement, dated as of September 1, 2002, providing for, inter alia, the issuance of CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27) CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (Exact name of registrant as specified in its charter) Delaware 333-77054-25 13-3320910 State or Other Jurisdiction (Commission (IRS Employer of Incorporation ) File Number) Identification No.) 11 Madison Ave. New York, New York 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 report and the attached exhibit is being filed with respect to the Registrant's CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 (the "Certificates") pursuant to "no-action" positions taken by the Securities and Exchange Commission with respect to alternative means of satisfying the Registrant's reporting obligations under the Securities Exchange Act of 1934, as amended. The Certificates were issued, and this report and exhibit is being filed, pursuant to the terms 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, Chase Manhattan Mortgage Corporation, as master servicer, Washington Mutual Mortgage Securities Corp., as seller and servicer, Bank of America, N.A., as seller and servicer, Fairbanks Capital Corp., as servicer and special servicer, Bank One, National Association, as trustee, and JPMorgan Chase Bank, as trust administrator. On October 25, 2002 distribution was made to the Certificateholders. Specific information with respect to the distribution is filed as Exhibit 99.1. No other reportable transactions or matters have occurred during the current reporting period. Item 7. Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) The following exhibits are filed as part of this report: Statement to Certificateholders on October 25, 2002 is filed as Exhibit 99.1 hereto. -2- CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. CSFB MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2002-AR27 ------------------------------------------------------------------ SIGNATURE 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 hereunto duly authorized. JPMORGAN CHASE BANK, not in its individual capacity but solely as Trust Administrator under the Agreement referred to herein Date: October 30, 2002 By: /s/ Andreas Auer --------------------------------------- Andreas Auer Vice President -3- INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Monthly Certificateholder Statement on October 25, 2002 -4- Exhibit 99.1 Monthly Certificateholder Statement on October 25, 2002 -5- CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 Statement to Certificate Holders October 25, 2002 ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- IA1 14,534,000.00 14,534,000.00 276,822.33 65,604.89 342,427.22 0.00 0.00 14,257,177.67 IA2 116,850,000.00 116,850,000.00 2,225,587.57 410,890.29 2,636,477.86 0.00 0.00 114,624,412.43 IIA1 96,226,000.00 96,226,000.00 271,387.00 401,813.89 673,200.89 0.00 0.00 95,954,613.00 IIA2 65,296,000.00 65,296,000.00 187,738.47 313,903.84 501,642.31 0.00 0.00 65,108,261.53 IIA3 1,540,000.00 1,540,000.00 4,343.28 7,403.39 11,746.67 0.00 0.00 1,535,656.72 IIA4 1,306,000.00 1,306,000.00 0.00 6,278.46 6,278.46 0.00 0.00 1,306,000.00 IIIA1 49,154,000.00 49,154,000.00 1,990,611.72 211,005.15 2,201,616.87 0.00 0.00 47,163,388.28 IIIA2 787,000.00 787,000.00 31,871.49 3,962.73 35,834.22 0.00 0.00 755,128.51 IVA1 166,153,000.00 166,153,000.00 4,783,449.55 288,183.15 5,071,632.70 0.00 0.00 161,369,550.45 IVM1 4,305,000.00 4,305,000.00 0.00 9,576.23 9,576.23 0.00 0.00 4,305,000.00 IVM2 1,722,154.00 1,722,154.00 0.00 5,036.34 5,036.34 0.00 0.00 1,722,154.00 CB1 7,837,000.00 7,837,000.00 5,034.08 37,059.38 42,093.46 0.00 0.00 7,831,965.92 CB2 2,734,000.00 2,734,000.00 1,756.18 12,928.46 14,684.64 0.00 0.00 2,732,243.82 CB3 3,826,000.00 3,826,000.00 2,457.62 18,092.28 20,549.90 0.00 0.00 3,823,542.38 CB4 2,005,000.00 2,005,000.00 1,287.91 9,481.19 10,769.10 0.00 0.00 2,003,712.09 CB5 1,276,000.00 1,276,000.00 819.64 6,033.91 6,853.55 0.00 0.00 1,275,180.36 CB6 1,093,516.87 1,093,516.87 702.42 5,170.99 5,873.41 0.00 0.00 1,092,814.45 AR 100.00 100.00 100.00 0.48 100.48 0.00 0.00 0.00 TOTALS 536,644,770.87 536,644,770.87 9,783,969.26 1,812,425.05 11,596,394.31 0.00 0.00 526,860,801.61 IX 116,850,000.00 116,850,000.00 0.00 116,557.88 116,557.88 0.00 0.00 114,624,412.43 IIX 96,226,000.00 96,226,000.00 0.00 60,782.76 60,782.76 0.00 0.00 95,954,613.00 IIIX 49,154,000.00 49,154,000.00 0.00 36,496.85 36,496.85 0.00 0.00 47,163,388.28 IVX 172,180,154.96 168,136,870.40 0.00 0.00 0.00 0.00 0.00 168,136,870.40 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ---------------------- BEGINNING ENDING CURRENT CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS PASS-THRU RATE --------------------------------------------------------------------------------------------------------- ---------------------- IA1 22541NHR3 1,000.00000000 19.04653433 4.51389088 23.56042521 980.95346567 IA1 5.416669 % IA2 22541NHS1 1,000.00000000 19.04653462 3.51639101 22.56292563 980.95346538 IA2 4.219669 % IIA1 22541NHT9 1,000.00000000 2.82030844 4.17573099 6.99603943 997.17969156 IIA1 5.010877 % IIA2 22541NHU6 1,000.00000000 2.87519098 4.80739770 7.68258867 997.12480902 IIA2 5.768877 % IIA3 22541NHV4 1,000.00000000 2.82031169 4.80739610 7.62770779 997.17968831 IIA3 5.768877 % IIA4 22541NMQ9 1,000.00000000 0.00000000 4.80739663 4.80739663 1,000.00000000 IIA4 5.768877 % IIIA1 22541NHW2 1,000.00000000 40.49745128 4.29273609 44.79018737 959.50254872 IIIA1 5.151283 % IIIA2 22541NHX0 1,000.00000000 40.49744600 5.03523507 45.53268107 959.50255400 IIIA2 6.042283 % IVA1 22541NHY8 1,000.00000000 28.78942631 1.73444446 30.52387077 971.21057369 IVA1 2.230000 % IVM1 22541NHZ5 1,000.00000000 0.00000000 2.22444367 2.22444367 1,000.00000000 IVM1 2.860000 % IVM2 22541NJA8 1,000.00000000 0.00000000 2.92444230 2.92444230 1,000.00000000 IVM2 3.760000 % CB1 22541NJE0 1,000.00000000 0.64234784 4.72877121 5.37111905 999.35765216 CB1 5.674526 % CB2 22541NJF7 1,000.00000000 0.64234821 4.72877103 5.37111924 999.35765179 CB2 5.674526 % CB3 22541NJG5 1,000.00000000 0.64234710 4.72877156 5.37111866 999.35765290 CB3 5.674526 % CB4 22541NJJ9 1,000.00000000 0.64234913 4.72877307 5.37112219 999.35765087 CB4 5.674526 % CB5 22541NJK6 1,000.00000000 0.64235110 4.72876959 5.37112069 999.35764890 CB5 5.674526 % CB6 22541NJL4 1,000.00000000 0.64234949 4.72877021 5.37111970 999.35765051 CB6 5.674526 % AR 22541NJH3 1,000.00000000 1,000.00000000 4.80000000 1,004.80000000 0.00000000 AR 5.768877 % TOTALS 1,000.00000000 18.23174247 3.37732733 21.60906980 981.76825753 IX 22541NJB6 1,000.00000000 0.00000000 0.99750004 0.99750004 980.95346538 IX 1.197000 % IIX 22541NJC4 1,000.00000000 0.00000000 0.63166670 0.63166670 997.17969156 IIX 0.758000 % IIIX 22541NJD2 1,000.00000000 0.00000000 0.74250010 0.74250010 959.50254872 IIIX 0.891000 % IVX 22541NJM2 976.51712788 0.00000000 0.00000000 0.00000000 976.51712788 IVX 0.000000 % --------------------------------------------------------------------------------------------------------- ------------------------ IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: Mark M. Volosov JPMorgan Chase Bank - Structured Finance Services 450 West 33 St, 14th fl, New York, New York 10001 Tel: (212) 946-7172 Fax: 212) 946-8302 Email: mark.volosov@chase.com -6- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 Statement to Certificate Holders September 25, 2002 Exhibit S (v)(a) Scheduled Principal Payments (Total) 383,711.90 Group 1 120,158.86 Group 2 57,937.80 Group 3 56,007.40 Group 4 149,607.84 Exhibit S (v)(b) Principal Prepayments (Total) 8,660,092.35 Group 1 2,388,439.72 Group 2 408,614.79 Group 3 1,969,361.12 Group 4 3,893,676.72 Exhibit S (v)(c) Repurchase Principal (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Exhibit S (v)(d) Substitution Amounts (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Exhibit S (v)(e) Net Liquidation Proceeds (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Exhibit S (v)(f) Insurance Proceeds (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Exhibit S (v)(g) Other Principal (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 -7- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 Statement to Certificate Holders October 25, 2002 Exhibit S (v)(h) Beginning Number of Loans Outstanding (Total) 1,383 Group 1 314 Group 2 455 Group 3 104 Group 4 510 Exhibit S (v)(i) Beginning Aggregate Loan Balances (Total) 536,644,771.83 Group 1 138,518,266.02 Group 2 173,292,821.99 Group 3 52,653,528.86 Group 4 172,180,154.96 Exhibit S (v)(j) Ending Number of Loans Outstanding (Total) 1,366 Group 1 310 Group 2 454 Group 3 99 Group 4 503 Exhibit S (v)(k) Ending Aggregate Loan Balances (Total) 527,600,967.58 Group 1 136,009,667.44 Group 2 172,826,269.40 Group 3 50,628,160.34 Group 4 168,136,870.40 Exhibit S (v)(l) Master Servicing Fees (Total) 1,460.29 Group 1 399.70 Group 2 162.00 Group 3 219.39 Group 4 679.20 Exhibit S (v)(m) Servicing Fees (Total and PMI Fees) 146,785.64 Group 1 35,850.34 Group 2 56,496.05 Group 3 10,969.48 Group 4 43,469.77 -8- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 Statement to Certificate Holders October 25, 2002 Exhibit S (v)(o) Current Advances (Total) N/A Group 1 N/A Group 2 N/A Group 3 N/A Group 4 N/A Exhibit S (v)(p) Outstanding Advances (Total) N/A Group 1 N/A Group 2 N/A Group 3 N/A Group 4 N/A Exhibit S (v)(q) Delinquent Mortgage Loans Group 1 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 2 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Principal Category Number Balance Percentage Group 3 Principal Category Number Balance Percentage 1 Month 0 0.00 0.00 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 0 0.00 0.00 % Group 4 Principal Category Number Balance Percentage 1 Month 10 1,795,378.43 1.07 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 10 1,795,378.43 1.07 % Group Totals Principal Category Number Balance Percentage 1 Month 10 1,795,378.43 0.34 % 2 Month 0 0.00 0.00 % 3 Month 0 0.00 0.00 % Total 10 1,795,378.43 0.34 % * Delinquent Bankruptcies are included in the table above. -9- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 Statement to Certificate Holders October 25, 2002 Exhibit S (v)(r) Bankruptcies Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % * Only Current Bankruptcies are reflected in the table above. Exhibit S (v)(t) Group 4 Balance of Bankruptcies Delinquent 31 to 60 days 0.00 * Above figure provided for calculation of Rolling 3 Month Delinquency Rate Exhibit S (v)(s) Foreclosures Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % -10- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. CSFB Mortgage-Backed Pass-Through Certificates, Series 2002-AR27 Statement to Certificate Holders October 25, 2002 Exhibit S (v)(u) REO Properties Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group 3 Principal Number Balance Percentage 0 0.00 0.00 % Group 4 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Exhibit S (v)(v) Current Realized Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Exhibit S (v)(w) Cumulative Realized Losses (Total) 0.00 Group 1 0.00 Group 2 0.00 Group 3 0.00 Group 4 0.00 Exhibit S (v)(x) Weighted Average Term to Maturity (Deal) 351 Group 1 354 Group 2 357 Group 3 348 Group 4 344 Exhibit S (v)(z) Number of claims submitted under the PMI Policy 0 Total amount of claims submitted under the PMI Policy 0.00 Number of claims paid under the PMI Policy 0 Total amount of claims paid under the PMI Policy 0.00 Group 4 Trigger Event Trigger Event Occurrence (Is Rolling 3 Month Delinquency Rate > the lesser of 7% and the Sr.Enhancement% x 50%?) NO Rolling 3 Month Delinquency Rate 0.00000 % Sr.Enhancement Percentage x 50.00% 1.79234 % Group 4 O/C Reporting Targeted Overcollateralization Amount 860,900.77 Ending Overcollateralization Amount 740,165.95 Ending Overcollateralization Deficiency 120,734.83 Group I Excess Interest 2,308.64 Group II Excess Interest 2,888.21 Group III Excess Interest 877.56 Overcollateralization Release Amount 0.00 Group 4 Monthly Excess Interest 740,164.99 Payment to Class IV-X 0.00 -11- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved.

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): October [__], 2002 Credit Suisse First Boston Mortgage Securities Corp., CSFB Series 2002-AR27, Mortgage-Backed Pass-Through Certificates, Series 2002-AR27

CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware	333-61840	13-3320910
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
11 Madison Avenue 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.

Credit Suisse First Boston Mortgage Securities Corp. (the “Company”) entered into a Pooling and Servicing Agreement dated as of September 1, 2002 (the “Agreement”) among the Company, in its capacity as depositor (in such capacity, the “Depositor”), DLJ Mortgage Capital, Inc. as a seller (in such capacity, a “Seller”), Chase Manhattan Mortgage Corporation in its capacity as master servicer (in such capacity, the “Master Servicer”), Bank of America, N.A., in its capacity as a seller (in such capacity, a “Seller”) and in its capacity as a servicer (in such capacity, a “Servicer”), Washington Mutual Mortgage Securities Corp., in its capacity as a seller (in such capacity a “Seller”) and in its capacity as a servicer (in such capacity, a “Servicer”), Fairbanks Capital Corp., in its capacity as a servicer (in such capacity, a “Servicer”) and as special servicer (in such capacity, the “Special Servicer”), Bank One, National Association, as trustee (the “Trustee”) and JPMorgan Chase Bank, as trust administrator (the “Trust Administrator”). The Certificates were issued on September 27, 2002. The Pooling and Servicing Agreement is annexed hereto as Exhibit 99.1.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

99.1

The Pooling and Servicing Agreement dated as of September 1, 2002, by and among the Company, the Sellers, the Servicers, the Special Servicer, the Master Servicer, the Trustee and the Trust Administrator.

SIGNATURES

Filings Made by the Registrant. The registrant has duly caused this form to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on October [___], 2002.

CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

By: /s/ John P. Graham

Name: John Graham

Title: Vice President

Exhibit Index

Exhibit

Page

99.1

Pooling and Servicing Agreement dated as of September 1, 2002,

by and among the Company, the Seller, the Servicers, the Master Servicer, the Special Servicer, the Trustee and the Trust Administrator.

EXHIBIT 99.1

Filing Compare · CSFB MORTGAGE BACKED PASS THROUGH CERTS SERIES 2002 AR27