8-K 1 bsa02ac1.txt MARCH 8K 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): March 25, 2002 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-AC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-04 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A., 11000 Broken Land Parkway Columbia, MD 21044 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 Former name or former address, if changed since last report) ITEM 5. Other Events On March 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2002-AC1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2002-AC1 Trust, relating to the March 25, 2002 distribution. 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. BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-AC1 Trust By: Wells Fargo Bank Minnesota, NA, as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 4/2/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2002-AC1 Trust, relating to the March 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Mortgage Pass-Through Certificates Record Date: 12/3128/02 Distribution Date: 23/25/02 BSA Series: 2002-AC1 Contact: Customer Service - SecuritiesLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution I-A 07384YBW5 SEN 8.00000% ~~287~~284,~~145~~212,~~000~~505.0032 1,~~914~~894,~~300~~615.0039 24,~~932~~645,~~494~~229.6899 II-A 07384YBX3 SEN 8.00000% ~~206~~203,~~224~~868,~~000~~201.0065 1,~~374~~359,~~826~~024.6775 25,~~355~~167,~~798~~216.3520 X-1 07384YCA2 SEN 0.~~31167~~31141% 0.00 8382,~~744~~895.4603 0.00 R-1 07384YCG9 RES 8.00000% 500.00 0.3300 500.00 X-2 07384YCB0 SEN 0.~~19195~~19040% 0.00 3736,~~489~~803.2417 0.00 R-2 07384YCH7 RES 8.00000% 500.00 10.2672 500.00 X-3 07384YCC8 SEN 1.00000% 0.00 40,~~600~~570.4347 0.00 PO-1 07384YBY1 PO 0.00000% 7,~~073~~043,~~728~~442.0011 0.00 3041,~~285~~716.8947 PO-2 07384YBZ8 PO 0.00000% 7,~~643~~605,~~009~~605.0056 0.00 3751,~~403~~550.4457 B-1 07384YCD6 SUB 7.00000% 19,~~488~~475,~~000~~006.0008 113,~~680~~596.0013 1213,~~993~~064.9294 B-2 07384YCE4 SUB 7.00000% 9,~~744~~737,~~100~~602.0097 56,~~840~~798.5864 6,~~497~~532.0354 B-3 07384YCF1 SUB 7.00000% 8,~~352~~346,~~100~~531.0011 48,~~720~~684.5864 5,~~568~~599.8933 B-4 07384YCJ3 SUB 7.00000% 3,~~897~~895,~~600~~001.0022 22,~~736~~719.0023 2,~~598~~612.7899 B-5 07384YCL8 SUB 7.00000% 2,~~227~~225,~~200~~714.0098 12,~~992~~982.0042 1,~~485~~493.0214 B-6 07384YCN4 SUB 7.00000% 5,~~011~~008,~~522~~168.0068 29,~~233~~212.8822 3,~~353~~362.3202 XP BSA2AC1XP SEN 0.00000% 100.00 014,037.0080 0.00 Totals ~~556~~551,~~806~~417,~~459~~879.0068 3,~~735~~711,~~165~~940.4361 59,~~388~~938,~~579~~378.3219

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A 0.00 ~~284~~279,~~212~~567,~~505~~275.3233 46,~~846~~539,~~794~~845.6838 0.00 II-A 0.00 ~~203~~198,~~868~~700,~~201~~985.6545 36,~~730~~526,~~625~~240.0295 0.00 X-1 0.00 0.00 8382,~~744~~895.4603 0.00 R-1 0.00 0.00 500.3300 0.00 X-2 0.00 0.00 3736,~~489~~803.2417 0.00 R-2 0.00 0.00 510.2672 0.00 X-3 0.00 0.00 40,~~600~~570.4347 0.00 PO-1 0.00 7,~~043~~001,~~442~~725.1164 3041,~~285~~716.8947 0.00 PO-2 0.00 7,~~605~~554,~~605~~055.5600 3751,~~403~~550.4457 0.00 B-1 0.00 19,~~475~~461,~~006~~941.0814 126,~~673~~661.9207 0.00 B-2 0.00 9,~~737~~731,~~602~~070.9744 63,~~337~~331.6118 0.00 B-3 0.00 8,~~346~~340,~~531~~931.1178 54,~~289~~283.4797 0.00 B-4 0.00 3,~~895~~892,~~001~~388.2223 25,~~334~~332.7822 0.00 B-5 0.00 2,~~225~~224,~~714~~221.9884 14,~~477~~475.0256 0.00 B-6 0.00 5,~~008~~004,~~168~~806.6864 32,~~587~~574.2024 014.0009 XP 0.00 100.00 014,037.0080 0.00 Totals 0.00 ~~551~~541,~~417~~479,~~879~~501.6849 913,~~123~~650,~~744~~318.7580 014.0009 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) I-A 287,145,000.00 ~~287~~284,~~145~~212,~~000~~505.0032 ~~191~~190,~~516~~299.1628 24,~~740~~454,~~978~~930.5171 0.00 0.00 II-A 206,224,000.00 ~~206~~203,~~224~~868,~~000~~201.0065 137,~~440~~128.25 25,~~218~~030,~~358~~087.1094 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 R-1 50.00 500.00 20.9200 470.0800 0.00 0.00 X-2 0.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 500.00 20.9200 470.0800 0.00 0.00 X-3 0.00 0.00 0.00 0.00 0.00 0.00 PO-1 7,073,728.00 7,~~073~~043,~~728~~442.0011 6,~~102~~096.4122 2435,~~183~~620.4825 0.00 0.00 PO-2 7,643,009.00 7,~~643~~605,~~009~~605.0056 5,~~936~~954.9823 3145,~~466~~596.4634 0.00 0.00 B-1 19,488,000.00 19,~~488~~475,~~000~~006.0008 1213,~~993~~064.9294 0.00 0.00 0.00 B-2 9,744,100.00 9,~~744~~737,~~100~~602.0097 6,~~497~~532.0354 0.00 0.00 0.00 B-3 8,352,100.00 8,~~352~~346,~~100~~531.0011 5,~~568~~599.8933 0.00 0.00 0.00 B-4 3,897,600.00 3,~~897~~895,~~600~~001.0022 2,~~598~~612.7899 0.00 0.00 0.00 B-5 2,227,200.00 2,~~227~~225,~~200~~714.0098 1,~~485~~493.0214 0.00 0.00 0.00 B-6 5,011,522.00 5,~~011~~008,~~522~~168.0068 3,~~353~~362.3202 0.00 0.00 0.00 XP 100.00 100.00 0.00 0.00 0.00 0.00 Totals 556,806,459.00 ~~556~~551,~~806~~417,~~459~~879.0068 ~~373~~372,~~498~~142.6094 59,~~015~~566,~~080~~235.7124 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 I-A 24,~~932~~645,~~494~~229.6899 ~~284~~279,~~212~~567,~~505~~275.3233 0.~~98978741~~97361011 24,~~932~~645,~~494~~229.6899 II-A 25,~~355~~167,~~798~~216.3520 ~~203~~198,~~868~~700,~~201~~985.6545 0.~~98857651~~96352018 25,~~355~~167,~~798~~216.3520 X-1 0.00 0.00 0.00000000 0.00 R-1 500.00 0.00 0.00000000 500.00 X-2 0.00 0.00 0.00000000 0.00 R-2 500.00 0.00 0.00000000 500.00 X-3 0.00 0.00 0.00000000 0.00 PO-1 3041,~~285~~716.8947 7,~~043~~001,~~442~~725.1164 0.~~99571854~~98982116 3041,~~285~~716.8947 PO-2 3751,~~403~~550.4457 7,~~605~~554,~~605~~055.5600 0.~~99510619~~98836139 3751,~~403~~550.4457 B-1 1213,~~993~~064.9294 19,~~475~~461,~~006~~941.0814 0.~~99933323~~99866283 1213,~~993~~064.9294 B-2 6,~~497~~532.0354 9,~~737~~731,~~602~~070.9744 0.~~99933323~~99866283 6,~~497~~532.0354 B-3 5,~~568~~599.8933 8,~~346~~340,~~531~~931.1178 0.~~99933323~~99866282 5,~~568~~599.8933 B-4 2,~~598~~612.7899 3,~~895~~892,~~001~~388.2223 0.~~99933324~~99866283 2,~~598~~612.7899 B-5 1,~~485~~493.0214 2,~~225~~224,~~714~~221.9884 0.~~99933323~~99866282 1,~~485~~493.0214 B-6 3,~~353~~362.3202 5,~~008~~004,~~168~~806.6864 0.~~99933088~~99866002 3,~~353~~362.3202 XP 0.00 100.00 1.00000000 0.00 Totals 59,~~388~~938,~~579~~378.3219 ~~551~~541,~~417~~479,~~879~~501.6849 0.~~99032235~~97247346 59,~~388~~938,~~579~~378.3219

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A 287,145,000.00 ~~1000~~989.~~00000000~~78740817 0.~~66696672~~66272887 915.~~54562507~~51456828 0.00000000 II-A 206,224,000.00 ~~1000~~988.~~00000000~~57650734 0.~~66646098~~66494807 1024.~~75703167~~39137996 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 ~~1000~~0.00000000 580.~~40000000~~00000000 ~~941~~0.~~60000000~~00000000 0.00000000 X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 ~~1000~~0.00000000 580.~~40000000~~00000000 ~~941~~0.~~60000000~~00000000 0.00000000 X-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 7,073,728.00 ~~1000~~995.~~00000000~~71853908 0.~~86268655~~86181148 35.~~41877437~~03556965 0.00000000 PO-2 7,643,009.00 ~~1000~~995.~~00000000~~10618920 0.~~77678569~~77904265 45.~~11702511~~96575773 0.00000000 B-1 19,488,000.00 ~~1000~~999.~~00000000~~33323481 0.~~66676519~~67040948 0.00000000 0.00000000 B-2 9,744,100.00 ~~1000~~999.~~00000000~~33323447 0.~~66676553~~67040979 0.00000000 0.00000000 B-3 8,352,100.00 ~~1000~~999.~~00000000~~33323476 0.~~66676524~~67040984 0.00000000 0.00000000 B-4 3,897,600.00 ~~1000~~999.~~00000000~~33323584 0.~~66676416~~67041000 0.00000000 0.00000000 B-5 2,227,200.00 ~~1000~~999.~~00000000~~33323455 0.~~66676545~~67041128 0.00000000 0.00000000 B-6 5,011,522.00 ~~1000~~999.~~00000000~~33087792 0.~~66912208~~67085807 0.00000000 0.00000000 XP 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A 0.00000000 1016.~~21259183~~17729715 ~~989~~973.~~78740817~~61011102 0.~~98978741~~97361011 1016.~~21259183~~17729715 II-A 0.00000000 1125.~~42349266~~05632807 ~~988~~963.~~57650734~~52017927 0.~~98857651~~96352018 1125.~~42349266~~05632807 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 X-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 0.00000000 45.~~28146092~~89738113 ~~995~~989.~~71853908~~82115795 0.~~99571854~~98982116 45.~~28146092~~89738113 PO-2 0.00000000 46.~~89381080~~74480038 ~~995~~988.~~10618920~~36139013 0.~~99510619~~98836139 46.~~89381080~~74480038 B-1 0.00000000 0.~~66676519~~67040948 ~~999~~998.~~33323481~~66282533 0.~~99933323~~99866283 0.~~66676519~~67040948 B-2 0.00000000 0.~~66676553~~67040979 ~~999~~998.~~33323447~~66282571 0.~~99933323~~99866283 0.~~66676553~~67040979 B-3 0.00000000 0.~~66676524~~67040984 ~~999~~998.~~33323476~~66282492 0.~~99933323~~99866282 0.~~66676524~~67040984 B-4 0.00000000 0.~~66676416~~67041000 ~~999~~998.~~33323584~~66282584 0.~~99933324~~99866283 0.~~66676416~~67041000 B-5 0.00000000 0.~~66676545~~67041128 ~~999~~998.~~33323455~~66282328 0.~~99933323~~99866282 0.~~66676545~~67041128 B-6 0.00000000 0.~~66912208~~67085807 ~~999~~998.~~33087792~~66001586 0.~~99933088~~99866002 0.~~66912208~~67085807 XP 0.00000000 0.00000000 1,000.00000000 1.00000000 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 I-A 287,145,000.00 8.00000% ~~287~~284,~~145~~212,~~000~~505.0032 1,~~914~~894,~~300~~750.0004 0.00 0.00 II-A 206,224,000.00 8.00000% ~~206~~203,~~224~~868,~~000~~201.0065 1,~~374~~359,~~826~~121.6734 0.00 0.00 X-1 0.00 0.~~31167~~31141% ~~322~~319,~~431~~449,~~411~~814.6416 8382,~~744~~900.4692 0.00 0.00 X-2 0.00 0.~~19195~~19040% ~~234~~231,~~375~~968,~~033~~063.2725 3736,~~489~~805.2479 0.00 0.00 R-1 50.00 8.00000% 500.00 0.3300 0.00 0.00 X-3 0.00 1.00000% 48,~~720~~688,~~522~~022.0076 40,~~600~~573.4335 0.00 0.00 R-2 50.00 8.00000% 500.00 0.3300 0.00 0.00 PO-1 7,073,728.00 0.00000% 7,~~073~~043,~~728~~442.0011 0.00 0.00 0.00 PO-2 7,643,009.00 0.00000% 7,~~643~~605,~~009~~605.0056 0.00 0.00 0.00 B-1 19,488,000.00 7.00000% 19,~~488~~475,~~000~~006.0008 113,~~680~~604.0020 0.00 0.00 B-2 9,744,100.00 7.00000% 9,~~744~~737,~~100~~602.0097 56,~~840~~802.5868 0.00 0.00 B-3 8,352,100.00 7.00000% 8,~~352~~346,~~100~~531.0011 48,~~720~~688.5810 0.00 0.00 B-4 3,897,600.00 7.00000% 3,~~897~~895,~~600~~001.0022 22,~~736~~720.0084 0.00 0.00 B-5 2,227,200.00 7.00000% 2,~~227~~225,~~200~~714.0098 12,~~992~~983.0034 0.00 0.00 B-6 5,011,522.00 7.00000% 5,~~011~~008,~~522~~168.0068 29,~~233~~214.8830 0.00 0.00 XP 100.00 0.00000% 100.00 0.00 0.00 0.00 Totals 556,806,459.00 3,~~735~~698,164.5090 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 I-A 0134.0065 0.00 1,~~914~~894,~~300~~615.0039 0.00 ~~284~~279,~~212~~567,~~505~~275.3233 II-A 096.0059 0.00 1,~~374~~359,~~826~~024.6775 0.00 ~~203~~198,~~868~~700,~~201~~985.6545 X-1 05.0089 0.00 8382,~~744~~895.4603 0.00 ~~319~~314,~~449~~743,~~814~~990.1602 X-2 02.0062 0.00 3736,~~489~~803.2417 0.00 ~~231~~226,~~968~~735,~~063~~511.2547 R-1 0.00 0.00 0.3300 0.00 0.00 X-3 02.0088 0.00 40,~~600~~570.4347 0.00 48,~~688~~655,~~022~~360.7607 R-2 0.00 0.00 10.2672 0.00 0.00 PO-1 0.00 0.00 0.00 0.00 7,~~043~~001,~~442~~725.1164 PO-2 0.00 0.00 0.00 0.00 7,~~605~~554,~~605~~055.5600 B-1 08.0007 0.00 113,~~680~~596.0013 0.00 19,~~475~~461,~~006~~941.0814 B-2 04.0004 0.00 56,~~840~~798.5864 0.00 9,~~737~~731,~~602~~070.9744 B-3 03.0046 0.00 48,~~720~~684.5864 0.00 8,~~346~~340,~~531~~931.1178 B-4 01.0061 0.00 22,~~736~~719.0023 0.00 3,~~895~~892,~~001~~388.2223 B-5 0.0092 0.00 12,~~992~~982.0042 0.00 2,~~225~~224,~~714~~221.9884 B-6 02.0008 0.00 29,~~233~~212.8822 0.00 5,~~008~~004,~~168~~806.6864 XP 0.00 0.00 014,037.0080 0.00 100.00 Totals 0262.0081 0.00 3,~~735~~711,~~165~~940.4361 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 I-A 287,145,000.00 8.00000% ~~1000~~989.~~00000000~~78740817 6.~~66666667~~59858274 0.00000000 0.00000000 II-A 206,224,000.00 8.00000% ~~1000~~988.~~00000000~~57650734 6.~~66666668~~59051003 0.00000000 0.00000000 X-1 0.00 0.~~31167~~31141% ~~999~~990.~~99995562~~75272585 0.~~25972797~~25711179 0.00000000 0.00000000 X-2 0.00 0.~~19195~~19040% ~~999~~989.~~99999974~~73026245 0.~~15995407~~15703802 0.00000000 0.00000000 R-1 50.00 8.00000% ~~1000~~0.00000000 60.~~60000000~~00000000 0.00000000 0.00000000 X-3 0.00 1.00000% ~~1000~~999.~~00000000~~33294557 0.~~83333323~~83277741 0.00000000 0.00000000 R-2 50.00 8.00000% ~~1000~~0.00000000 60.~~60000000~~00000000 0.00000000 0.00000000 PO-1 7,073,728.00 0.00000% ~~1000~~995.~~00000000~~71853908 0.00000000 0.00000000 0.00000000 PO-2 7,643,009.00 0.00000% ~~1000~~995.~~00000000~~10618920 0.00000000 0.00000000 0.00000000 B-1 19,488,000.00 7.00000% ~~1000~~999.~~00000000~~33323481 5.~~83333333~~82944376 0.00000000 0.00000000 B-2 9,744,100.00 7.00000% ~~1000~~999.~~00000000~~33323447 5.~~83333299~~82944346 0.00000000 0.00000000 B-3 8,352,100.00 7.00000% ~~1000~~999.~~00000000~~33323476 5.~~83333293~~82944409 0.00000000 0.00000000 B-4 3,897,600.00 7.00000% ~~1000~~999.~~00000000~~33323584 5.~~83333333~~82944376 0.00000000 0.00000000 B-5 2,227,200.00 7.00000% ~~1000~~999.~~00000000~~33323455 5.~~83333333~~82944504 0.00000000 0.00000000 B-6 5,011,522.00 7.00000% ~~1000~~999.~~00000000~~33087792 5.~~83333367~~82942667 0.00000000 0.00000000 XP 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 I-A 0.~~00000000~~00046893 0.00000000 6.~~66666667~~59811381 0.00000000 ~~989~~973.~~78740817~~61011102 II-A 0.~~00000000~~00046837 0.00000000 6.~~66666668~~59004165 0.00000000 ~~988~~963.~~57650734~~52017927 X-1 0.~~00000000~~00001827 0.00000000 0.~~25972797~~25709352 0.00000000 ~~990~~976.~~75272585~~15791976 X-2 0.~~00000000~~00001118 0.00000000 0.~~15995407~~15702684 0.00000000 ~~989~~967.~~73026245~~40471137 R-1 0.00000000 0.00000000 60.~~60000000~~00000000 0.00000000 0.00000000 X-3 0.~~00000000~~00005911 0.00000000 0.~~83333323~~83271829 0.00000000 ~~999~~998.~~33294557~~66253629 R-2 0.00000000 0.00000000 2514.~~20000000~~40000000 0.00000000 0.00000000 PO-1 0.00000000 0.00000000 0.00000000 0.00000000 ~~995~~989.~~71853908~~82115795 PO-2 0.00000000 0.00000000 0.00000000 0.00000000 ~~995~~988.~~10618920~~36139013 B-1 0.~~00000000~~00041410 0.00000000 5.~~83333333~~82902966 0.00000000 ~~999~~998.~~33323481~~66282533 B-2 0.~~00000000~~00041461 0.00000000 5.~~83333299~~82902885 0.00000000 ~~999~~998.~~33323447~~66282571 B-3 0.~~00000000~~00041427 0.00000000 5.~~83333293~~82902982 0.00000000 ~~999~~998.~~33323476~~66282492 B-4 0.~~00000000~~00041307 0.00000000 5.~~83333333~~82903069 0.00000000 ~~999~~998.~~33323584~~66282584 B-5 0.~~00000000~~00041307 0.00000000 5.~~83333333~~82903197 0.00000000 ~~999~~998.~~33323455~~66282328 B-6 0.~~00000000~~00041504 0.00000000 5.~~83333367~~82901163 0.00000000 ~~999~~998.~~33087792~~66001586 XP 0.00000000 0.00000000 0140378.00000000 0.00000000 1000.00000000 (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 913,~~124~~781,~~863~~258.3911 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~194~~62,~~122~~510.2966 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 913,~~318~~843,~~985~~768.6877 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~195~~193,~~240~~449.9397 Payment of Interest and Principal 913,~~123~~650,~~744~~318.7580 Total Withdrawals (Pool Distribution Amount) 913,~~318~~843,~~985~~768.6877 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~185~~184,~~960~~259.7662 Master Servicing Fee 9,~~280~~190.1735 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~195~~193,~~240~~449.9397

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 1026 0 0 0 1026 36,~~263~~778,~~645~~254.2102 0.00 0.00 0.00 36,~~263~~778,~~645~~254.2102 60 Days 03 0 0 0 03 01,179,042.0063 0.00 0.00 0.00 01,179,042.0063 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0282,978.0040 0.00 0.00 0.00 0282,978.0040 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 01 0 0 0 01 0108,355.0055 0.00 0.00 0.00 0108,355.0055 Totals 1031 0 0 0 1031 38,~~263~~348,~~645~~630.2160 0.00 0.00 0.00 38,~~263~~348,~~645~~630.2160 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 01.~~382555~~009709% 0.000000% 0.000000% 0.000000% 01.~~382555~~009709% 01.~~591547~~251003% 0.000000% 0.000000% 0.000000% 01.~~591547~~251003% 60 Days 0.~~000000~~116505% 0.000000% 0.000000% 0.000000% 0.~~000000~~116505% 0.~~000000~~217606% 0.000000% 0.000000% 0.000000% 0.~~000000~~217606% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.~~000000~~038835% 0.000000% 0.000000% 0.000000% 0.~~000000~~038835% 0.~~000000~~052227% 0.000000% 0.000000% 0.000000% 0.~~000000~~052227% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.~~000000~~038835% 0.000000% 0.000000% 0.000000% 0.~~000000~~038835% 0.~~000000~~019998% 0.000000% 0.000000% 0.000000% 0.~~000000~~019998% Totals 01.~~382555~~203883% 0.000000% 0.000000% 0.000000% 01.~~382555~~203883% 01.~~591547~~540834% 0.000000% 0.000000% 0.000000% 01.~~591547~~540834%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 516 0 0 0 516 ~~788~~2,~~733~~359,682.5964 0.00 0.00 0.00 ~~788~~2,~~733~~359,682.5964 60 Days 01 0 0 0 01 076,409.0034 0.00 0.00 0.00 076,409.0034 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 01 0 0 0 01 0282,978.0040 0.00 0.00 0.00 0282,978.0040 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 01 0 0 0 01 0108,355.0055 0.00 0.00 0.00 0108,355.0055 Totals 519 0 0 0 519 ~~788~~2,~~733~~827,425.5993 0.00 0.00 0.00 ~~788~~2,~~733~~827,425.5993 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~243427~~788955% 0.000000% 0.000000% 0.000000% 0.~~243427~~788955% 0.~~246777~~749247% 0.000000% 0.000000% 0.000000% 0.~~246777~~749247% 60 Days 0.~~000000~~049310% 0.000000% 0.000000% 0.000000% 0.~~000000~~049310% 0.~~000000~~024262% 0.000000% 0.000000% 0.000000% 0.~~000000~~024262% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.~~000000~~049310% 0.000000% 0.000000% 0.000000% 0.~~000000~~049310% 0.~~000000~~089851% 0.000000% 0.000000% 0.000000% 0.~~000000~~089851% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.~~000000~~049310% 0.000000% 0.000000% 0.000000% 0.~~000000~~049310% 0.~~000000~~034405% 0.000000% 0.000000% 0.000000% 0.~~000000~~034405% Totals 0.~~243427~~936884% 0.000000% 0.000000% 0.000000% 0.~~243427~~936884% 0.~~246777~~897765% 0.000000% 0.000000% 0.000000% 0.~~246777~~897765% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 510 0 0 0 510 24,~~474~~418,~~911~~571.6238 0.00 0.00 0.00 24,~~474~~418,~~911~~571.6238 60 Days 02 0 0 0 02 01,102,633.0029 0.00 0.00 0.00 01,102,633.0029 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 512 0 0 0 512 25,~~474~~521,~~911~~204.6267 0.00 0.00 0.00 25,~~474~~521,~~911~~204.6267 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~892857~~828154% 0.000000% 0.000000% 0.000000% 01.~~892857~~828154% 1.~~066313~~947493% 0.000000% 0.000000% 0.000000% 1.~~066313~~947493% 60 Days 0.~~000000~~365631% 0.000000% 0.000000% 0.000000% 0.~~000000~~365631% 0.~~000000~~485987% 0.000000% 0.000000% 0.000000% 0.~~000000~~485987% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 02.~~892857~~193784% 0.000000% 0.000000% 0.000000% 02.~~892857~~193784% 12.~~066313~~433480% 0.000000% 0.000000% 0.000000% 12.~~066313~~433480%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~194~~62,~~122~~510.2966

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~470605~~468965% Weighted Average Net Coupon 8.~~069832~~067978% Weighted Average Pass-Through Rate 7.~~958216~~956510% Weighted Average Maturity(Stepdown Calculation ) ~~342~~341 Beginning Scheduled Collateral Loan Count 2,~~638~~614 Number Of Loans Paid In Full 2439 Ending Scheduled Collateral Loan Count 2,~~614~~575 Beginning Scheduled Collateral Balance ~~556~~551,~~806~~417,~~459~~877.0041 Ending Scheduled Collateral Balance ~~551~~541,~~417~~479,~~877~~501.4149 Ending Actual Collateral Balance at 3128-~~Jan~~Feb-2002 ~~551~~541,~~713~~825,~~274~~533.7767 Monthly P &I Constant 4,~~303~~263,~~893~~756.0548 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~373~~372,~~486~~140.7968 Unscheduled Principal 59,~~015~~566,~~080~~235.7124

Miscellaneous Reporting Senior Percentage Group I 90.975260% Subordinate Percentage Group I 9.024740% Senior Prep. Percentage Group I 100.000000% Subordinate Prep. Percentage Group I 0.000000% Senior Percentage Group II 90.865604% Subordinate Percentage Group II 9.134396% Senior Prep. Percentage Group II 100.000000% Subordinate Prep. Percentage Group II 0.000000% Three Months Rolling Average 0.005919% Prepayment Charge Payment Amount 14,037.80

~~Miscellaneous~~Group ~~Reporting~~Level ~~Senior~~Collateral ~~Percentage~~Statement Group Group I 91Group II Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.~~053752%~~550501 ~~Subordinate~~8.356680 ~~Percentage~~8.468965 ~~Group~~Weighted Average Net Rate 8.~~946248%~~155026 ~~Senior~~7.948103 ~~Prep~~8.067978 ~~Percentage~~Weighted ~~Grou~~Average ~~100~~Maturity 329 341 341 Beginning Loan Count 2,054 560 2,614 Loans Paid In Full 26 13 39 Ending Loan Count 2,028 547 2,575 Beginning Scheduled Balance 319,449,814.~~000000%~~16 ~~Subordinate~~231,968,063.25 ~~Prep~~551,417,877.41 ~~Percentage~~Ending scheduled Balance 314,743,990.02 226,735,511.47 541,479,501.49 Record Date 02/28/2002 02/28/2002 02/28/2002 Principal And Interest Constant 2,491,486.53 1,772,269.95 4,263,756.48 Scheduled Principal 215,273.18 156,867.50 372,140.68 Unscheduled Principal 4,490,550.96 5,075,684.28 9,566,235.24 Scheduled Interest 2,276,213.35 1,615,402.45 3,891,615.80 Servicing Fees 105,278.83 78,980.79 184,259.62 Master Servicing Fees 5,324.33 3,866.02 9,190.35 Trustee Fee 0.~~000000%~~00 ~~Senior~~0.00 ~~Percentage~~0.00 ~~Group~~FRY IIAmount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 31,626.14 10,404.74 42,030.88 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 2,133,984.05 1,522,150.90 3,656,134.~~955039%~~95 ~~Subordinate~~Realized ~~Percentage~~Loss ~~Group~~Amount 90.~~044961%~~00 ~~Senior~~0.00 ~~Prep~~0.00 ~~Percentage~~Cumulative ~~Grou~~Realized ~~100~~Loss 0.~~000000%~~00 ~~Subordinate~~0.00 ~~Prep~~0.00 Percentage of Cumulative Losses 0.~~000000%~~00 ~~Three~~0.00 ~~Months~~0.00 ~~Rolling~~Prepayment ~~Average~~Penalties 0.~~19729%~~00 ~~Prepayment~~0.00 ~~Charge~~0.00 ~~Payment~~Special AmServicing Fee 0.00 0.00 0.00 Pass-Through Rate 8.016223 7.874277 7.956510

Group Level Collateral Statement Group Group I Group II Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.550858 8.360200 8.470605 Weighted Average Net Rate 8.156165 7.951064 8.069832 Weighted Average Maturity 330 342 342 Beginning Loan Count 2,072 566 2,638 Loans Paid In Full 18 6 24 Ending Loan Count 2,054 560 2,614 Beginning Scheduled Balance 322,431,426.00 234,375,033.00 556,806,459.00 Ending scheduled Balance 319,449,814.16 231,968,063.25 551,417,877.41 Record Date 01/31/2002 01/31/2002 01/31/2002 Principal And Interest Constant 2,513,989.94 1,789,903.11 4,303,893.05 Scheduled Principal 216,435.49 157,051.30 373,486.79 Unscheduled Principal 2,765,161.99 2,249,918.72 5,015,080.71 Scheduled Interest 2,297,554.45 1,632,851.81 3,930,406.26 Servicing Fees 106,051.42 79,909.34 185,960.76 Master Servicing Fees 5,373.86 3,906.31 9,280.17 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 31,690.88 10,819.32 42,510.20 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 2,154,438.29 1,538,216.84 3,692,655.13 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing FeePass-Through Rate 0.00 0.00 0.00 8.018220 7.875669 7.958216

Filing Compare · BEAR STEARNS ASSET BACKED SEC TR ASSET BACK CER SER 2002-AC1