8-K 1 mrf02bc1.txt AUGUST 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): August 15, 2002 MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2002-BC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-67192-02 Pooling and Servicing Agreement) (Commission 22-3844519 (State or other File Number) 22-3844520 jurisdiction IRS EIN 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 August 15, 2002 a distribution was made to holders of MELLON RESIDENTIAL FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 2002-BC1 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-BC1 Trust, relating to the August 15, 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. MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2002-BC1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/21/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC1 Trust, relating to the August 15, 2002 distribution. EX-99.1

Mellon Residential Funding Corporation Mortgage Pass-Through Certificates Record Date: 67/3031/02 Distribution Date: 78/15/02 MRF Series: 2002-BC1 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 A 585525FN3 SEN 2.~~21000~~20875% ~~139~~135,~~583~~699,~~360~~540.2375 ~~257~~249,~~066~~771.0296 34,~~883~~425,~~819~~892.4815 A-R 585525FQ6 SEN 5.~~78039~~71078% 0.00 0.00 0.00 X 585525FP8 SEN 3.~~48672~~41732% 0.00 ~~422~~402,~~024~~563.1581 0.00 B-1 585525FR4 SUB 2.~~84000~~83875% 1,617,000.00 3,~~826~~825.9022 0.00 B-2 585525FS2 SUB 3.~~24000~~23875% 808,000.00 2,~~181~~180.6076 0.00 B-3 585525FT0 SUB 3.~~84000~~83875% 647,000.00 2,~~070~~069.4073 0.00 B-4 585525FU7 SUB 5.~~78039~~71078% 1,295,000.00 6,~~238~~162.0088 0.00 B-5 585525FV5 SUB 5.~~78039~~71078% 647,000.00 3,~~116~~079.5906 0.00 B-6 585525FW3 SUB 5.~~78039~~71078% 647,716.59 3,~~120~~082.0447 0.00 R MELLON02R SUB 0.00000% 0.00 0.00 0.00 Totals ~~145~~141,~~245~~361,~~076~~257.8234 ~~699~~672,~~643~~735.7089 34,~~883~~425,~~819~~892.4815

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~135~~131,~~699~~273,~~540~~648.7560 4,~~140~~675,~~885~~664.5011 0.00 A-R 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~422~~402,~~024~~563.1581 0.00 B-1 0.00 1,617,000.00 3,~~826~~825.9022 0.00 B-2 0.00 808,000.00 2,~~181~~180.6076 0.00 B-3 0.00 647,000.00 2,~~070~~069.4073 0.00 B-4 0.00 1,295,000.00 6,~~238~~162.0088 0.00 B-5 0.00 647,000.00 3,~~116~~079.5906 0.00 B-6 0.00 647,716.59 3,~~120~~082.0447 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~141~~136,~~361~~935,~~257~~365.3419 45,~~583~~098,~~463~~628.1804 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 156,109,000.00 ~~139~~135,~~583~~699,~~360~~540.2375 ~~115~~116,~~135~~444.7005 34,~~768~~309,~~683~~448.7810 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 1,617,000.00 1,617,000.00 0.00 0.00 0.00 0.00 B-2 808,000.00 808,000.00 0.00 0.00 0.00 0.00 B-3 647,000.00 647,000.00 0.00 0.00 0.00 0.00 B-4 1,295,000.00 1,295,000.00 0.00 0.00 0.00 0.00 B-5 647,000.00 647,000.00 0.00 0.00 0.00 0.00 B-6 647,716.63 647,716.59 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 161,770,816.63 ~~145~~141,~~245~~361,~~076~~257.8234 ~~115~~116,~~135~~444.7005 34,~~768~~309,~~683~~448.7810 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 34,~~883~~425,~~819~~892.4815 ~~135~~131,~~699~~273,~~540~~648.7560 0.~~86926148~~84091019 34,~~883~~425,~~819~~892.4815 A-R 0.00 0.00 0.00000000 0.00 X 0.00 0.00 0.00000000 0.00 B-1 0.00 1,617,000.00 1.00000000 0.00 B-2 0.00 808,000.00 1.00000000 0.00 B-3 0.00 647,000.00 1.00000000 0.00 B-4 0.00 1,295,000.00 1.00000000 0.00 B-5 0.00 647,000.00 1.00000000 0.00 B-6 0.00 647,716.59 0.99999994 0.00 R 0.00 0.00 0.00000000 0.00 Totals 34,~~883~~425,~~819~~892.4815 ~~141~~136,~~361~~935,~~257~~365.3419 0.~~87383658~~84647755 34,~~883~~425,~~819~~892.4815

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 156,109,000.00 ~~894~~869.~~14037775~~26148236 0.~~73753403~~74591503 2427.~~14136136~~60537893 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 1,617,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 808,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 647,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,295,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 647,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 647,716.63 999.99993824 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) Per $1000 Denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 2428.~~87889539~~35129397 ~~869~~840.~~26148236~~91018839 0.~~86926148~~84091019 2428.~~87889539~~35129397 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 999.99993824 0.99999994 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 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 A 156,109,000.00 2.~~21000~~20875% ~~139~~135,~~583~~699,~~360~~540.2375 ~~257~~249,~~066~~771.0297 0.00 0.00 A-R 100.00 5.~~78039~~71078% 0.00 0.00 0.00 0.00 X 0.00 3.~~48672~~41732% ~~145~~141,~~245~~361,~~076~~257.8234 ~~422~~402,~~024~~563.1581 0.00 0.00 B-1 1,617,000.00 2.~~84000~~83875% 1,617,000.00 3,~~826~~825.9022 0.00 0.00 B-2 808,000.00 3.~~24000~~23875% 808,000.00 2,~~181~~180.6076 0.00 0.00 B-3 647,000.00 3.~~84000~~83875% 647,000.00 2,~~070~~069.4073 0.00 0.00 B-4 1,295,000.00 5.~~78039~~71078% 1,295,000.00 6,~~238~~162.0088 0.00 0.00 B-5 647,000.00 5.~~78039~~71078% 647,000.00 3,~~116~~079.5906 0.00 0.00 B-6 647,716.63 5.~~78039~~71078% 647,716.59 3,~~120~~082.0447 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 161,770,816.63 ~~699~~672,~~643~~735.7090 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 0.00 0.00 ~~257~~249,~~066~~771.0296 0.00 ~~135~~131,~~699~~273,~~540~~648.7560 A-R 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~422~~402,~~024~~563.1581 0.00 ~~141~~136,~~361~~935,~~257~~365.3419 B-1 0.00 0.00 3,~~826~~825.9022 0.00 1,617,000.00 B-2 0.00 0.00 2,~~181~~180.6076 0.00 808,000.00 B-3 0.00 0.00 2,~~070~~069.4073 0.00 647,000.00 B-4 0.00 0.00 6,~~238~~162.0088 0.00 1,295,000.00 B-5 0.00 0.00 3,~~116~~079.5906 0.00 647,000.00 B-6 0.00 0.00 3,~~120~~082.0447 0.00 647,716.59 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~699~~672,~~643~~735.7089 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 156,109,000.00 2.~~21000~~20875% ~~894~~869.~~14037775~~26148236 1.~~64670852~~59998443 0.00000000 0.00000000 A-R 100.00 5.~~78039~~71078% 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 3.~~48672~~41732% ~~897~~873.~~84474014~~83658119 2.~~60877802~~48848228 0.00000000 0.00000000 B-1 1,617,000.00 2.~~84000~~83875% 1000.00000000 2.~~36666667~~36562771 0.00000000 0.00000000 B-2 808,000.00 3.~~24000~~23875% 1000.00000000 2.~~70000000~~69896040 0.00000000 0.00000000 B-3 647,000.00 3.~~84000~~83875% 1000.00000000 3.~~20000000~~19896445 0.00000000 0.00000000 B-4 1,295,000.00 5.~~78039~~71078% 1000.00000000 4.~~81698842~~75898069 0.00000000 0.00000000 B-5 647,000.00 5.~~78039~~71078% 1000.00000000 4.~~81698609~~75897991 0.00000000 0.00000000 B-6 647,716.63 5.~~78039~~71078% 999.99993824 4.~~81698301~~75897925 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1000 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 0.00000000 0.00000000 1.~~64670852~~59998437 0.00000000 ~~869~~840.~~26148236~~91018839 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 2.~~60877802~~48848228 0.00000000 ~~873~~846.~~83658119~~47755413 B-1 0.00000000 0.00000000 2.~~36666667~~36562771 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.~~70000000~~69896040 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.~~20000000~~19896445 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 4.~~81698842~~75898069 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 4.~~81698609~~75897991 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 4.~~81698301~~75897925 0.00000000 999.99993824 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (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 45,~~586~~128,~~555~~705.4134 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 291,~~587~~728.9199 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 45,~~616~~130,~~143~~434.3233 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 3231,~~680~~806.1429 Payment of Interest and Principal 45,~~583~~098,~~463~~628.1804 Total Withdrawals (Pool Distribution Amount) 45,~~616~~130,~~143~~434.3233 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 3029,~~259~~450.3927 Trustee Fee 2,~~420~~356.7502 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3231,~~680~~806.1429

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 102 0 0 0 102 4300,~~873,956~~696.5088 0.00 0.00 0.00 4300,~~873,956~~696.5088 60 Days 20 0 0 0 20 ~~367,499~~0.9800 0.00 0.00 0.00 ~~367,499~~0.9800 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 122 0 0 0 122 5300,~~241,456~~696.4888 0.00 0.00 0.00 5300,~~241,456~~696.4888 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 40.~~385965~~925926% 0.000000% 0.000000% 0.000000% 40.~~385965~~925926% 30.~~447873~~219590% 0.000000% 0.000000% 0.000000% 30.~~447873~~219590% 60 Days 0.~~877193~~000000% 0.000000% 0.000000% 0.000000% 0.~~877193~~000000% 0.~~259972~~000000% 0.000000% 0.000000% 0.000000% 0.~~259972~~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 50.~~263158~~925926% 0.000000% 0.000000% 0.000000% 50.~~263158~~925926% 30.~~707845~~219590% 0.000000% 0.000000% 0.000000% 30.~~707845~~219590%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 291,~~587~~728.9199

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.06181585% 100,000.00 0.~~07074074~~07302715% Fraud 3,235,416.00 1.99999979% 3,235,416.00 2.~~28875723~~36273222% Special Hazard 5,661,716.00 3.49983768% 5,661,716.00 4.~~00513981~~13459006% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 65.~~050384~~980780% Weighted Average Net Coupon 5.~~800384~~730779% Weighted Average Pass-Through Rate 5.~~780384~~710779% Weighted Average Maturity(Stepdown Calculation ) ~~268~~267 Beginning Scheduled Collateral Loan Count ~~233~~228 Number Of Loans Paid In Full 512 Ending Scheduled Collateral Loan Count ~~228~~216 Beginning Scheduled Collateral Balance ~~145~~141,~~245~~361,~~076~~257.8234 Ending Scheduled Collateral Balance ~~141~~136,~~361~~935,~~257~~365.3419 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2002 ~~141~~136,~~361~~935,~~257~~365.3419 Monthly P &I Constant ~~847~~820,~~459~~986.5523 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~141~~136,~~361~~935,~~257~~365.3419 Scheduled Principal ~~115~~116,~~135~~444.7005 Unscheduled Principal 34,~~768~~309,~~683~~448.7810

Filing Compare · MELLON RESIDENTIAL FUNDING CORP MOR PS THR CER SER 2002 TBC1