8-K 1 mst02001.txt MAY 8-K 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): May 28, 2002 MASTR ASSET SECURITIZATION TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-60030-01 Pooling and Servicing Agreement) (Commission 74-3040745 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A., 9062 Old Annapolis Road Columbia, MD 21045 (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 May 28, 2002 a distribution was made to holders of MASTR ASSET SECURITIZATION TRUST, Mortgage Pass-Through Certificates, Series 2002-1 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 Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the May 28, 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. MASTR ASSET SECURITIZATION TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust By: Wells Fargo Bank Minnesota, NA, as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 5/31/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the May 28, 2002 distribution. EX-99.1

Mortgage Asset Securitization Transactions, Inc Mortgage Pass-Through Certificates Record Date: 24/2830/02 Distribution Date: 35/2528/02 MASTR Series: 2002-1 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 A-1 55265KCN7 SEN 6.00000% ~~301~~297,~~313~~242,~~000~~938.0030 1,~~506~~486,~~564~~214.9669 1,~~367~~241,~~141~~496.9408 A-X 55265KCR8 SEN 0.~~19924~~19908% 0.00 4544,~~049~~465.5608 0.00 PO 55265KCP2 PO 0.00000% 1,~~096~~076,~~260~~402.5745 0.00 4,~~735~~465.1778 A-R 55265KCQ0 SEN 6.00000% ~~100~~0.00 0.5000 ~~100~~0.00 B-1 55265KCS6 SUB 6.00000% 2,~~302~~286,~~000~~182.0093 11,~~510~~430.0091 78,~~876~~032.5769 B-2 55265KCT4 SUB 6.00000% ~~767~~761,~~000~~729.0093 3,~~835~~808.0065 2,~~624~~676.3840 B-3 55265KCU1 SUB 6.00000% ~~460~~456,~~000~~839.0033 2,~~300~~284.0020 1,~~573~~605.9414 B-4 55265KCV9 SUB 6.00000% ~~306~~303,~~000~~897.0047 1,~~530~~519.0049 1,~~047~~067.0277 B-5 55265KCW7 SUB 6.00000% ~~307~~304,~~000~~890.0060 1,~~535~~524.0045 1,~~050~~071.4426 B-6 55265KCX5 SUB 6.00000% ~~308~~306,~~460~~341.9248 1,~~542~~531.3071 1,~~055~~076.4436 Totals ~~306~~302,~~859~~739,~~821~~222.49 1,~~573~~552,~~867~~779.3218 1,~~387~~261,~~204~~491.9048

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~299~~296,~~945~~001,~~858~~442.0622 2,~~873~~727,~~706~~710.9077 0.00 A-X 0.00 0.00 4544,~~049~~465.5608 0.00 PO 0.00 1,~~091~~071,~~525~~936.4066 4,~~735~~465.1778 0.00 A-R 0.00 0.00 ~~100~~0.5000 0.00 B-1 0.00 2,~~294~~278,~~123~~150.4323 19,~~386~~463.5760 0.00 B-2 0.00 ~~764~~759,~~375~~053.6253 6,~~459~~485.3805 0.00 B-3 0.00 ~~458~~455,~~426~~234.0619 3,~~873~~889.9434 0.00 B-4 0.00 ~~304~~302,~~952~~829.9870 2,~~577~~587.0226 0.00 B-5 0.00 ~~305~~303,~~949~~819.5634 2,~~585~~595.4471 0.00 B-6 0.00 ~~307~~305,~~405~~265.4812 2,~~597~~608.7407 0.00 Totals 0.00 ~~305~~301,~~472~~477,~~616~~730.5999 2,~~961~~814,~~072~~270.2266 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-1 301,313,000.00 ~~301~~297,~~313~~242,~~000~~938.0030 1,~~030~~044,~~879~~389.7139 ~~336~~197,~~262~~106.2370 0.00 0.00 A-X 0.00 0.00 0.00 0.00 0.00 0.00 PO 1,096,260.57 1,~~096~~076,~~260~~402.5745 3,~~843~~852.7428 ~~891~~613.4350 0.00 0.00 A-R 100.00 ~~100~~0.00 750.4000 240.6000 0.00 0.00 B-1 2,302,000.00 2,~~302~~286,~~000~~182.0093 78,~~876~~032.5769 0.00 0.00 0.00 B-2 767,000.00 ~~767~~761,~~000~~729.0093 2,~~624~~676.3840 0.00 0.00 0.00 B-3 460,000.00 ~~460~~456,~~000~~839.0033 1,~~573~~605.9414 0.00 0.00 0.00 B-4 306,000.00 ~~306~~303,~~000~~897.0047 1,~~047~~067.0277 0.00 0.00 0.00 B-5 307,000.00 ~~307~~304,~~000~~890.0060 1,~~050~~071.4426 0.00 0.00 0.00 B-6 308,460.92 ~~308~~306,~~460~~341.9248 1,~~055~~076.4436 0.00 0.00 0.00 Totals 306,859,821.49 ~~306~~302,~~859~~739,~~821~~222.49 1,~~050~~063,~~026~~771.6429 ~~337~~197,~~178~~720.2620 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 1,~~367~~241,~~141~~496.9408 ~~299~~296,~~945~~001,~~858~~442.0622 0.~~99546272~~98237196 1,~~367~~241,~~141~~496.9408 A-X 0.00 0.00 0.00000000 0.00 PO 4,~~735~~465.1778 1,~~091~~071,~~525~~936.4066 0.~~99568062~~97781193 4,~~735~~465.1778 A-R ~~100~~0.00 0.00 0.00000000 ~~100~~0.00 B-1 78,~~876~~032.5769 2,~~294~~278,~~123~~150.4323 0.~~99657838~~98963954 78,~~876~~032.5769 B-2 2,~~624~~676.3840 ~~764~~759,~~375~~053.6253 0.~~99657838~~98963954 2,~~624~~676.3840 B-3 1,~~573~~605.9414 ~~458~~455,~~426~~234.0619 0.~~99657839~~98963954 1,~~573~~605.9414 B-4 1,~~047~~067.0277 ~~304~~302,~~952~~829.9870 0.~~99657837~~98963954 1,~~047~~067.0277 B-5 1,~~050~~071.4426 ~~305~~303,~~949~~819.5634 0.~~99657837~~98963954 1,~~050~~071.4426 B-6 1,~~055~~076.4436 ~~307~~305,~~405~~265.4812 0.~~99657837~~98963953 1,~~055~~076.4436 Totals 1,~~387~~261,~~204~~491.9048 ~~305~~301,~~472~~477,~~616~~730.5999 0.~~99547935~~98246075 1,~~387~~261,~~204~~491.9048

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 301,313,000.00 ~~1000~~986.~~00000000~~49224660 3.~~42129185~~46612788 10.~~11598978~~65415930 0.00000000 A-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO 1,096,260.57 ~~1000~~981.~~00000000~~88558401 3.~~50622845~~51401857 0.~~81315522~~55962972 0.00000000 A-R 100.00 ~~1000~~0.00000000 ~~754~~0.00000000 ~~246~~0.00000000 0.00000000 B-1 2,302,000.00 ~~1000~~993.~~00000000~~12898784 3.~~42162033~~48943962 0.00000000 0.00000000 B-2 767,000.00 ~~1000~~993.~~00000000~~12898305 3.~~42161669~~48943937 0.00000000 0.00000000 B-3 460,000.00 ~~1000~~993.~~00000000~~12897826 3.~~42160870~~48943478 0.00000000 0.00000000 B-4 306,000.00 ~~1000~~993.~~00000000~~12898693 3.~~42163399~~48944444 0.00000000 0.00000000 B-5 307,000.00 ~~1000~~993.~~00000000~~12899023 3.~~42162866~~48944625 0.00000000 0.00000000 B-6 308,460.92 ~~1000~~993.~~00000000~~12898373 3.~~42163280~~48945338 0.00000000 0.00000000

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 4.~~53728163~~12028714 ~~995~~982.~~46271837~~37195946 0.~~99546272~~98237196 4.~~53728163~~12028714 A-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO 0.00000000 4.~~31938367~~07364829 ~~995~~977.~~68061633~~81192659 0.~~99568062~~97781193 4.~~31938367~~07364829 A-R 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 B-1 0.00000000 3.~~42162033~~48943962 ~~996~~989.~~57837967~~63954387 0.~~99657838~~98963954 3.~~42162033~~48943962 B-2 0.00000000 3.~~42161669~~48943937 ~~996~~989.~~57838331~~63954368 0.~~99657838~~98963954 3.~~42161669~~48943937 B-3 0.00000000 3.~~42160870~~48943478 ~~996~~989.~~57839130~~63954348 0.~~99657839~~98963954 3.~~42160870~~48943478 B-4 0.00000000 3.~~42163399~~48944444 ~~996~~989.~~57836601~~63954248 0.~~99657837~~98963954 3.~~42163399~~48944444 B-5 0.00000000 3.~~42162866~~48944625 ~~996~~989.~~57837134~~63954397 0.~~99657837~~98963954 3.~~42162866~~48944625 B-6 0.00000000 3.~~42163280~~48945338 ~~996~~989.~~57836720~~63953035 0.~~99657837~~98963953 3.~~42163280~~48945338 (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-1 301,313,000.00 6.00000% ~~301~~297,~~313~~242,~~000~~938.0030 1,~~506~~486,~~565~~214.0069 0.00 0.00 A-X 0.00 0.~~19924~~19908% ~~271~~268,~~325~~025,~~469~~751.4864 4544,~~049~~465.5608 0.00 0.00 PO 1,096,260.57 0.00000% 1,~~096~~076,~~260~~402.5745 0.00 0.00 0.00 A-R 100.00 6.00000% ~~100~~0.00 0.5000 0.00 0.00 B-1 2,302,000.00 6.00000% 2,~~302~~286,~~000~~182.0093 11,~~510~~430.0091 0.00 0.00 B-2 767,000.00 6.00000% ~~767~~761,~~000~~729.0093 3,~~835~~808.0065 0.00 0.00 B-3 460,000.00 6.00000% ~~460~~456,~~000~~839.0033 2,~~300~~284.0020 0.00 0.00 B-4 306,000.00 6.00000% ~~306~~303,~~000~~897.0047 1,~~530~~519.0049 0.00 0.00 B-5 307,000.00 6.00000% ~~307~~304,~~000~~890.0060 1,~~535~~524.0045 0.00 0.00 B-6 308,460.92 6.00000% ~~308~~306,~~460~~341.9248 1,~~542~~531.3071 0.00 0.00 Totals 306,859,821.49 1,~~573~~552,~~867~~779.3618 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 0.0400 0.00 1,~~506~~486,~~564~~214.9669 0.00 ~~299~~296,~~945~~001,~~858~~442.0622 A-X 0.00 0.00 4544,~~049~~465.5608 0.00 ~~270~~266,~~101~~910,~~866~~022.2858 PO 0.00 0.00 0.00 0.00 1,~~091~~071,~~525~~936.4066 A-R 0.00 0.00 0.5000 0.00 0.00 B-1 0.00 0.00 11,~~510~~430.0091 0.00 2,~~294~~278,~~123~~150.4323 B-2 0.00 0.00 3,~~835~~808.0065 0.00 ~~764~~759,~~375~~053.6253 B-3 0.00 0.00 2,~~300~~284.0020 0.00 ~~458~~455,~~426~~234.0619 B-4 0.00 0.00 1,~~530~~519.0049 0.00 ~~304~~302,~~952~~829.9870 B-5 0.00 0.00 1,~~535~~524.0045 0.00 ~~305~~303,~~949~~819.5634 B-6 0.00 0.00 1,~~542~~531.3071 0.00 ~~307~~305,~~405~~265.4812 Totals 0.0400 0.00 1,~~573~~552,~~867~~779.3218 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-1 301,313,000.00 6.00000% ~~1000~~986.~~00000000~~49224660 54.~~00000000~~93246123 0.00000000 0.00000000 A-X 0.00 0.~~19924~~19908% ~~1000~~987.~~00000000~~83852527 0.~~16603513~~16388097 0.00000000 0.00000000 PO 1,096,260.57 0.00000% ~~1000~~981.~~00000000~~88558401 0.00000000 0.00000000 0.00000000 A-R 100.00 6.00000% ~~1000~~0.00000000 50.00000000 0.00000000 0.00000000 B-1 2,302,000.00 6.00000% ~~1000~~993.~~00000000~~12898784 54.~~00000000~~96564292 0.00000000 0.00000000 B-2 767,000.00 6.00000% ~~1000~~993.~~00000000~~12898305 54.~~00000000~~96564537 0.00000000 0.00000000 B-3 460,000.00 6.00000% ~~1000~~993.~~00000000~~12897826 54.~~00000000~~96565217 0.00000000 0.00000000 B-4 306,000.00 6.00000% ~~1000~~993.~~00000000~~12898693 54.~~00000000~~96565359 0.00000000 0.00000000 B-5 307,000.00 6.00000% ~~1000~~993.~~00000000~~12899023 54.~~00000000~~96563518 0.00000000 0.00000000 B-6 308,460.92 6.00000% ~~1000~~993.~~00000000~~12898373 4.~~99998509~~96565335 0.00000000 0.00000000 (5) Per $1 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.~~00000013~~00000000 0.00000000 4.~~99999987~~93246123 0.00000000 ~~995~~982.~~46271837~~37195946 A-X 0.00000000 0.00000000 0.~~16603513~~16388097 0.00000000 ~~995~~983.~~49027519~~72638253 PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~995~~977.~~68061633~~81192659 A-R 0.00000000 0.00000000 50.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 54.~~00000000~~96564292 0.00000000 ~~996~~989.~~57837967~~63954387 B-2 0.00000000 0.00000000 54.~~00000000~~96564537 0.00000000 ~~996~~989.~~57838331~~63954368 B-3 0.00000000 0.00000000 54.~~00000000~~96565217 0.00000000 ~~996~~989.~~57839130~~63954348 B-4 0.00000000 0.00000000 54.~~00000000~~96565359 0.00000000 ~~996~~989.~~57836601~~63954248 B-5 0.00000000 0.00000000 54.~~00000000~~96563518 0.00000000 ~~996~~989.~~57837134~~63954397 B-6 0.00000000 0.00000000 4.~~99998509~~96565335 0.00000000 ~~996~~989.~~57836720~~63953035 (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 32,~~017~~871,~~395~~953.4596 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 86,~~801~~575.9932 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 32,~~026~~878,~~197~~529.4428 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 6564,~~125~~258.2262 Payment of Interest and Principal 2,~~961~~814,~~072~~270.2266 Total Withdrawals (Pool Distribution Amount) 32,~~026~~878,~~197~~529.4428 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 6564,~~125~~258.2262 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6564,~~125~~258.2262

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 2 0 0 0 2 1762,~~013,366~~692.7050 0.00 0.00 0.00 1762,~~013,366~~692.7050 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 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 2 0 0 0 2 1762,~~013,366~~692.7050 0.00 0.00 0.00 1762,~~013,366~~692.7050 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 0.~~281294~~282087% 0.000000% 0.000000% 0.000000% 0.~~281294~~282087% 0.~~330847~~252296% 0.000000% 0.000000% 0.000000% 0.~~330847~~252296% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 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 0.~~281294~~282087% 0.000000% 0.000000% 0.000000% 0.~~281294~~282087% 0.~~330847~~252296% 0.000000% 0.000000% 0.000000% 0.~~330847~~252296%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 86,~~801~~575.9932

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.03258817% 100,000.00 0.~~03273616~~03316995% Fraud 3,068,280.00 0.99989630% 3,068,280.00 1.~~00443700~~01774681% Special Hazard 3,068,598.00 0.99999993% 3,068,598.00 1.~~00454111~~01785229% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Fixed 15 Year Weighted Average Gross Coupon 6.~~409412~~409626% Weighted Average Pass-Through Rate 6.~~154735~~154917% Weighted Average Maturity(Stepdown Calculation ) ~~176~~174 Beginning Scheduled Collateral Loan Count ~~711~~709 Number Of Loans Paid In Full 0 Ending Scheduled Collateral Loan Count ~~711~~709 Beginning Scheduled Collateral Balance ~~306~~302,~~859~~739,~~821~~222.49 Ending Scheduled Collateral Balance ~~305~~301,~~472~~477,~~616~~731.6001 Ending Actual Collateral Balance at 2830-~~Feb~~Apr-2002 ~~306~~302,~~294~~300,~~641~~399.0552 Monthly P &I Constant 2,~~689~~680,~~019~~808.1891 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2,~~873~~727,~~807~~710.4478 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~270~~266,~~101~~910,~~866~~022.2858 Ending scheduled Balance For discounted Loans 3534,~~370~~567,~~750~~708.3243 Scheduled Principal 1,~~050~~063,~~026~~771.6328 Unscheduled Principal ~~337~~197,~~178~~720.2620

Filing Compare · MASTR ASSET SECURITIZATION TRUST 2002-1