8-K 1 ffm02ff1.txt JULY 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): July 25, 2002 FIRST FRANKLIN MORTGAGE LOAN TRUST Asset-Backed Certificates, Series 2002-FF1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-84929-09 Pooling and Servicing Agreement) (Commission 52-2365555 (State or other File Number) 52-2365556 jurisdiction 52-2365557 of Incorporation) 52-2365558 IRS EIN 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 July 25, 2002 a distribution was made to holders of FIRST FRANKLIN MORTGAGE LOAN TRUST, Asset-Backed Certificates, Series 2002-FF1 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 Certificates, Series 2002-FF1 Trust, relating to the July 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. FIRST FRANKLIN MORTGAGE LOAN TRUST Asset-Backed Certificates, Series 2002-FF1 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/5/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2002-FF1 Trust, relating to the July 25, 2002 distribution. EX-99.1

~~Initial~~First ~~Certificate~~Franklin ~~Principal~~Mortgage ~~Class~~Loan ~~Balance~~Trust orMortgage ~~Notional Amount~~ Pass-Through ~~Rate~~Certificates Record Date: 6/30/02 Distribution Date: 7/25/02 FFM Series: 2002-FF1 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 I-A-1 $32027NAN1 50SEN 1.97000% 48,~~079~~743,~~000~~984.0060 ~~Variable~~80,021.37 1,446,615.61 I-A-2 $32027NAP6 SEN 3.79000% 432,700,000.00 31,366,610.~~79%~~83 0.00 II-A-1 ~~$109~~32027NAQ4 SEN 2.13000% 108,~~968~~930,~~000~~422.0051 ~~Variable~~193,351.50 1,059,902.30 M-1 $32027NAR2 SUB 2.54000% 14,264,000.00 ~~Variable~~30,192.13 0.00 M-2 $32027NAS0 SUB 3.04000% 12,679,000.00 ~~Variable~~32,120.13 0.00 M-3 $32027NAT8 SUB 3.69000% 12,679,000.00 ~~Variable~~38,987.93 0.00 C $FFM02FF1C SEN 0.00000% 1,584,~~358~~883.0064 ~~Variable~~1,790,904.99 0.00 P $FFM02FF1P SEN 0.00000% 100.00 ~~N/A~~39,688.86 R0.00 ~~100~~DIV_CERT SEN 0.00000% ~~N/A~~0.01 0.00 0.00 AUCADMIN SEN 0.00000% 0.00 0.00 0.00 R1 FFM2FF1R1 SEN 0.00000% 0.00 0.00 0.00 R2 FFM2FF1R2 SEN 0.00000% 0.00 0.00 0.00 R3 FFM2FF1R3 SEN 0.00000% 0.00 0.00 0.00 R4 FFM2FF1R4 SEN 0.00000% 0.00 0.00 0.00 Totals 631,581,390.76 3,571,877.74 2,506,517.91

~~Exhibit~~Certificateholder ~~No.~~Distribution ~~Description~~Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 47,297,368.99 1,526,636.98 0.00 I-A-2 0.00 432,700,000.00 1,366,610.83 0.00 II-A-1 0.00 107,870,520.21 1,253,253.80 0.00 M-~~----~~1 0.00 14,264,000.00 30,192.13 0.00 M-~~----------~~2 40.100 ~~Pooling~~12,679,000.00 ~~and~~32,120.13 ~~Servicing~~0.00 ~~Agreement~~M-3 0.00 12,679,000.00 ~~dated~~38,987.93 as0.00 ofC ~~May~~0.00 1,584,883.64 ~~2002~~1,790,904.99 by0.00 ~~and~~P ~~among~~0.00 ~~Financial~~100.00 ~~Asset~~39,688.86 ~~Securities~~0.00 ~~Corp~~DIV_CERT 0.00 as0.01 ~~Depositor,~~0.00 ~~Option~~0.00 ~~One~~AUCADMIN ~~Mortgage~~0.00 ~~Corporation~~0.00 as0.00 ~~Master~~0.00 ~~Servicer~~R1 ~~and~~0.00 ~~Wells~~0.00 ~~Fargo~~0.00 ~~Bank~~0.00 ~~Minnesota,~~R2 ~~National~~0.00 ~~Association~~0.00 as0.00 ~~Trustee~~0.00 R3 0.00 0.00 0.00 0.00 R4 0.00 0.00 0.00 0.00 Totals 0.00 629,074,872.85 ~~relating~~6,078,395.65 to0.00 All distributions required by the ~~Series~~Pooling ~~2002-FF1~~and ~~Certificates~~Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~Index~~Principal toDistribution ~~Exhibits~~Statement ~~Sequentially~~Original ~~Exhibit~~Beginning ~~No.~~Scheduled ~~Description~~Unscheduled ~~Numbered~~Face ~~Page~~Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) I-A-1 50,079,000.00 48,743,984.60 0.00 1,446,615.61 0.00 0.00 I-A-2 432,700,000.00 432,700,000.00 0.00 0.00 0.00 0.00 II-A-~~-----~~1 109,968,000.00 108,930,422.51 0.00 1,059,902.30 0.00 0.00 M-~~----------~~1 14,264,000.00 14,264,000.00 0.00 0.00 0.00 0.00 M-~~------------~~2 412,679,000.100 ~~Pooling~~12,679,000.00 ~~and~~0.00 ~~Servicing~~0.00 ~~Agreement~~0.00 0.00 M-3 12,679,000.00 ~~dated~~12,679,000.00 as0.00 of0.00 ~~May~~0.00 0.00 C 1,584,358.44 ~~7 2002~~1,584,883.64 by0.00 ~~and~~0.00 ~~among~~0.00 ~~Financial~~0.00 ~~Asset~~P ~~Securities~~100.00 ~~Corp~~100.00 as0.00 ~~Depositor,~~0.00 ~~Option~~0.00 ~~One~~0.00 ~~Mortgage~~DIV_CERT ~~Corporation~~0.01 as0.01 ~~Master~~0.00 ~~Servicer~~0.00 ~~and~~0.00 ~~Wells~~0.00 ~~Fargo~~AUCADMIN ~~Bank~~0.00 ~~Minnesota~~0.00 0.00 0.00 0.00 0.00 R1 0.00 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 R4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Totals 633,953,458.45 ~~National~~631,581,390.76 ~~Association~~0.00 as2,506,517.91 ~~Trustee~~0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, ~~relating~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the ~~Series~~Prospectus ~~2002-FF1~~Supplement ~~Certificates~~for a Full Description.

Filing Compare · FINANCIAL ASSETS SEC CORP FIRST FRANK MORT LN TR 2002-FF1