8-K 1 bsa02001.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 26, 2002 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-08 47-0864706 Pooling and Servicing Agreement) (Commission 47-0864710 (State or other File Number) 47-0864714 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 26, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed 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 Asset-Backed Certificates, Series 2002-1 Trust, relating to the August 26, 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 2002-1 Trust By: Wells Fargo Bank Minnesota, NA, Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/3/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2002-1 Trust, relating to the August 26, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 67/3031/02 Distribution Date: 78/2526/02 BSA Series: 2002-1 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 1-A1 07384YCQ7 SEN 2.~~04000~~03688% 9589,~~055~~239,~~162~~255.0699 161,~~593~~573.7802 58,~~815~~161,~~906~~240.0690 1-A2 07384YCR5 SEN 5.52000% 36,229,000.00 166,653.40 0.00 1-A3 07384YCS3 SEN 6.17000% 11,413,000.00 58,681.84 0.00 1-A4 07384YCT1 SEN 6.87000% 10,957,000.00 62,728.8382 0.00 1-A5 07384YCU8 SEN 6.39000% 22,779,000.00 121,298.1817 0.00 2-A 07384YCV6 SEN 2.~~16000~~15688% 8077,~~775~~588,~~050~~020.8318 ~~145~~148,~~395~~753.0981 32,~~187~~819,~~030~~504.6400 A-IO 07384YCW4 IO 8.00000% 0.00 222,~~025~~160.9175 0.00 M-1 07384YCX2 MEZ 2.~~64000~~63688% 16,657,000.00 3639,~~645~~042.4023 0.00 M-2 07384YCY0 MEZ 3.~~19000~~18688% 16,657,000.00 4447,~~279~~185.8665 0.00 B 07384YCZ7 SUB 4.~~09000~~08688% 13,325,000.00 4548,~~416~~406.0482 0.00 B-IO BSA021BIO IO 0.00000% 0.00 0310,218.0048 0.00 OC BSA0201OC OC 0.00000% 23,~~345~~444,~~004~~923.4135 0.00 0.00 R-1 07384YDA1 RES 0.00000% 0.00 0.00 0.00 R-2 07384YDB9 RES 0.00000% 0.00 0.00 0.00 R-3 07384YDC7 RES 0.00000% 0.00 0.00 0.00 Totals ~~306~~298,~~192~~289,~~217~~199.3052 1,~~064~~386,~~718~~702.3399 910,~~002~~980,~~936~~744.7090

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A1 0.00 8981,~~239~~078,~~255~~015.9909 58,~~977~~322,~~499~~813.8492 0.00 1-A2 0.00 36,229,000.00 166,653.40 0.00 1-A3 0.00 11,413,000.00 58,681.84 0.00 1-A4 0.00 10,957,000.00 62,728.8382 0.00 1-A5 0.00 22,779,000.00 121,298.1817 0.00 2-A 0.00 7774,~~588~~768,~~020~~516.18 32,~~332~~968,~~425~~257.7381 0.00 A-IO 0.00 0.00 222,~~025~~160.9175 0.00 M-1 0.00 16,657,000.00 3639,~~645~~042.4023 0.00 M-2 0.00 16,657,000.00 4447,~~279~~185.8665 0.00 B 0.00 13,325,000.00 4548,~~416~~406.0482 0.00 B-IO 0.00 0.00 0310,218.0048 0.00 OC 0.00 34,~~444~~164,~~923~~210.3540 0.00 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~298~~288,~~289~~027,~~199~~741.5267 1012,~~067~~367,~~655~~447.0389 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) 1-A1 114,524,000.00 9589,~~055~~239,~~162~~255.0699 0.00 58,~~815~~161,~~906~~240.0690 0.00 0.00 1-A2 36,229,000.00 36,229,000.00 0.00 0.00 0.00 0.00 1-A3 11,413,000.00 11,413,000.00 0.00 0.00 0.00 0.00 1-A4 10,957,000.00 10,957,000.00 0.00 0.00 0.00 0.00 1-A5 22,779,000.00 22,779,000.00 0.00 0.00 0.00 0.00 2-A 90,595,000.00 8077,~~775~~588,~~050~~020.8318 0.00 32,~~187~~819,~~030~~504.6400 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 16,657,000.00 16,657,000.00 0.00 0.00 0.00 0.00 M-2 16,657,000.00 16,657,000.00 0.00 0.00 0.00 0.00 B 13,325,000.00 13,325,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 831.55 23,~~345~~444,~~004~~923.4135 0.00 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 R-3 50.00 0.00 0.00 0.00 0.00 0.00 Totals 333,136,981.55 ~~306~~298,~~192~~289,~~217~~199.3052 0.00 910,~~002~~980,~~936~~744.7090 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 1-A1 58,~~815~~161,~~906~~240.0690 8981,~~239~~078,~~255~~015.9909 0.~~77921882~~70795654 58,~~815~~161,~~906~~240.0690 1-A2 0.00 36,229,000.00 1.00000000 0.00 1-A3 0.00 11,413,000.00 1.00000000 0.00 1-A4 0.00 10,957,000.00 1.00000000 0.00 1-A5 0.00 22,779,000.00 1.00000000 0.00 2-A 32,~~187~~819,~~030~~504.6400 7774,~~588~~768,~~020~~516.18 0.~~85642718~~82530511 32,~~187~~819,~~030~~504.6400 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 16,657,000.00 1.00000000 0.00 M-2 0.00 16,657,000.00 1.00000000 0.00 B 0.00 13,325,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 34,~~444~~164,~~923~~210.3540 45,~~142~~007.~~77355541~~76910589 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 910,~~002~~980,~~936~~744.7090 ~~298~~288,~~289~~027,~~199~~741.5267 0.~~89539504~~86459252 910,~~002~~980,~~936~~744.7090

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A1 114,524,000.00 ~~830~~779.~~00211362~~21881868 0.00000000 5071.~~78329486~~26227603 0.00000000 1-A2 36,229,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A3 11,413,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A4 10,957,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A5 22,779,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A 90,595,000.00 ~~891~~856.~~60605806~~42717788 0.00000000 3531.~~17888007~~12207075 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 16,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 16,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 13,325,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 831.55 ~~2820040~~4142773.~~17798088~~55540857 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000000 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 1-A1 0.00000000 5071.~~78329486~~26227603 ~~779~~707.~~21881868~~95654265 0.~~77921882~~70795654 5071.~~78329486~~26227603 1-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A 0.00000000 3531.~~17888007~~12207075 ~~856~~825.~~42717788~~30510713 0.~~85642718~~82530511 3531.~~17888007~~12207075 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 45,~~142~~007,~~773~~769.~~55540857~~10588660 ~~4142~~5007.~~77355541~~76910589 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 1-A1 114,524,000.00 2.~~04000~~03688% 9589,~~055~~239,~~162~~255.0699 161,~~593~~573.7803 0.00 0.00 1-A2 36,229,000.00 5.52000% 36,229,000.00 166,653.40 0.00 0.00 1-A3 11,413,000.00 6.17000% 11,413,000.00 58,681.84 0.00 0.00 1-A4 10,957,000.00 6.87000% 10,957,000.00 62,728.83 0.00 0.00 1-A5 22,779,000.00 6.39000% 22,779,000.00 121,298.18 0.00 0.00 2-A 90,595,000.00 2.~~16000~~15688% 8077,~~775~~588,~~050~~020.8318 ~~145~~148,~~395~~753.0982 0.00 0.00 A-IO 0.00 8.00000% 33,314,000.00 222,093.33 0.00 670.4200 M-1 16,657,000.00 2.~~64000~~63688% 16,657,000.00 3639,~~645~~042.4023 0.00 0.00 M-2 16,657,000.00 3.~~19000~~18688% 16,657,000.00 4447,~~279~~185.8665 0.00 0.00 B 13,325,000.00 4.~~09000~~08688% 13,325,000.00 4548,~~416~~406.0482 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 831.55 0.00000% 23,~~345~~444,~~004~~923.4135 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 333,136,981.55 1,~~064~~076,~~785~~417.7513 0.00 670.4200

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance 1-A1 0.00 0.00 161,~~593~~573.7802 0.00 8981,~~239~~078,~~255~~015.9909 1-A2 0.00 0.00 166,653.40 0.00 36,229,000.00 1-A3 0.00 0.00 58,681.84 0.00 11,413,000.00 1-A4 0.00 0.00 62,728.8382 0.00 10,957,000.00 1-A5 0.00 0.00 121,298.1817 0.00 22,779,000.00 2-A 0.00 0.00 ~~145~~148,~~395~~753.0981 0.00 7774,~~588~~768,~~020~~516.18 A-IO 0.00 0.00 222,~~025~~160.9175 0.00 33,314,000.00 M-1 0.00 0.00 3639,~~645~~042.4023 0.00 16,657,000.00 M-2 0.00 0.00 4447,~~279~~185.8665 0.00 16,657,000.00 B 0.00 0.00 4548,~~416~~406.0482 0.00 13,325,000.00 B-IO 0.00 0.00 0310,218.0048 0.00 0.00 OC 0.00 0.00 0.00 0.00 34,~~444~~164,~~923~~210.3540 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~064~~386,~~718~~702.3399 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 1-A1 114,524,000.00 2.~~04000~~03688% ~~830~~779.~~00211362~~21881868 1.~~41100363~~41082245 0.00000000 0.00000000 1-A2 36,229,000.00 5.52000% 1000.00000000 4.60000000 0.00000000 0.00000000 1-A3 11,413,000.00 6.17000% 1000.00000000 5.14166652 0.00000000 0.00000000 1-A4 10,957,000.00 6.87000% 1000.00000000 5.72500046 0.00000000 0.00000000 1-A5 22,779,000.00 6.39000% 1000.00000000 5.32500022 0.00000000 0.00000000 2-A 90,595,000.00 2.~~16000~~15688% ~~891~~856.~~60605806~~42717788 1.~~60489089~~64196501 0.00000000 0.00000000 A-IO 0.00 8.00000% 1000.00000000 6.66666657 0.00000000 0.~~00202377~~00000000 M-1 16,657,000.00 2.~~64000~~63688% 1000.00000000 2.~~20000000~~34389326 0.00000000 0.00000000 M-2 16,657,000.00 3.~~19000~~18688% 1000.00000000 2.~~65833343~~83278201 0.00000000 0.00000000 B 13,325,000.00 4.~~09000~~08688% 1000.00000000 3.~~40833321~~63278199 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 831.55 0.00000% ~~2820040~~4142773.~~17798088~~55540857 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 5) 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 1-A1 0.00000000 0.00000000 1.~~41100363~~41082236 0.00000000 ~~779~~707.~~21881868~~95654265 1-A2 0.00000000 0.00000000 4.60000000 0.00000000 1000.00000000 1-A3 0.00000000 0.00000000 5.14166652 0.00000000 1000.00000000 1-A4 0.00000000 0.00000000 5.~~72500046~~72499954 0.00000000 1000.00000000 1-A5 0.00000000 0.00000000 5.~~32500022~~32499978 0.00000000 1000.00000000 2-A 0.00000000 0.00000000 1.~~60489089~~64196490 0.00000000 ~~856~~825.~~42717788~~30510713 A-IO 0.00000000 0.00000000 6.~~66464279~~66869034 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.~~20000000~~34389326 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~65833343~~83278201 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~40833321~~63278199 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~4142773~~5007769.~~55540857~~10588660 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 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 912,~~973~~292,~~749~~109.4146 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~191~~184,~~329~~172.0622 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 1012,~~165~~476,~~078~~281.4768 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 97108,~~423~~833.4479 Payment of Interest and Principal 1012,~~067~~367,~~655~~447.0389 Total Withdrawals (Pool Distribution Amount) 1012,~~165~~476,~~078~~281.4768 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~14,033~~0.6600 Servicing Fee Support ~~14,033~~0.6600 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee ~~107~~105,~~629~~105.7319 Master Servicing Fee 3,~~827~~728.3760 Supported Prepayment/Curtailment Interest Shortfall ~~14,033~~0.6600 Net Servicing Fee 97108,~~423~~833.4479

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 ~~124~~123 10 0 ~~125~~123 6,~~402~~851,~~746~~114.5208 ~~46,511~~0.8800 0.00 6,~~449~~851,~~258~~114.4008 30 Days ~~157~~148 114 0 0 ~~168~~152 1110,~~105~~245,~~717~~318.8206 ~~550~~128,~~992~~677.1025 0.00 0.00 1110,~~656~~373,~~709~~995.9231 60 Days 7456 37 02 0 7765 43,~~438~~587,~~092~~728.1819 86222,~~667~~067.7656 0137,765.0095 0.00 43,~~524~~947,~~759~~561.9470 90 Days 1722 24 36 0 2232 1,~~657~~672,~~249~~030.9455 26100,~~581~~948.0688 ~~131~~299,~~048~~168.7193 0.00 12,~~814~~072,~~879~~148.7136 120 Days 95 32 58 0 1715 1,~~076~~004,~~525~~504.5585 9418,~~681~~763.3370 ~~572~~370,~~800~~145.9956 0.00 1,~~744~~393,~~007~~414.8711 150 Days 5 4 26 120 115 ~~19 264~~578,~~253~~510.2757 84106,~~330~~208.6128 ~~381~~528,~~614~~615.0493 ~~98,603~~0.9400 ~~828~~1,~~801~~213,334.8678 180+ Days 5 1 013 02 021 ~~1 68~~410,~~719~~011.0768 069,489.0059 0559,796.0081 0116,864.0078 681,~~719~~156,162.0786 Totals ~~262~~241 145 2135 12 ~~429~~423 1817,~~610~~498,~~557~~103.8390 7,~~245~~497,~~999~~269.3834 1,~~131~~895,~~975~~493.6218 98116,~~603~~864.9478 27,~~087~~007,~~136~~731.7720 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 23.~~978621~~028065% 0.~~024021~~000000% 0.000000% 3.~~002642~~028065% 2.~~141770~~373436% 0.~~015559~~000000% 0.000000% 2.~~157329~~373436% 30 Days 3.~~771319~~643525% 0.~~264233~~098474% 0.000000% 0.000000% 43.~~035551~~741999% 3.~~714952~~549292% 0.~~184311~~044578% 0.000000% 0.000000% 3.~~899264~~593869% 60 Days 1.~~777564~~378631% 0.~~072063~~172329% 0.~~000000~~049237% 0.000000% 1.~~849628~~600197% 1.~~484578~~242899% 0.~~028991~~076931% 0.~~000000~~047726% 0.000000% 1.~~513569~~367556% 90 Days 0.~~408359~~541605% 0.~~048042~~098474% 0.~~072063~~147710% 0.000000% 0.~~528465~~787789% 0.~~554363~~579243% 0.~~008892~~034972% 0.~~043837~~103641% 0.000000% 0.~~607092~~717856% 120 Days 0.~~216190~~123092% 0.~~072063~~049237% 0.~~120106~~196947% 0.000000% 0.~~408359~~369276% 0.~~360106~~347991% 0.~~031672~~006500% 0.~~191607~~128230% 0.000000% 0.~~583385~~482721% 150 Days 0.~~096085~~123092% 0.~~048042~~098474% 0.~~288254~~147710% 0.~~024021~~000000% 0.~~456402~~369276% 0.~~088395~~200414% 0.~~028209~~036794% 0.~~127653~~183129% 0.~~032984~~000000% 0.~~277241~~420336% 180+ Days 0.~~024021~~123092% 0.~~000000~~024618% 0.~~000000~~320039% 0.~~000000~~049237% 0.~~024021~~516987% 0.~~022987~~142041% 0.~~000000~~024073% 0.~~000000~~193931% 0.~~000000~~040486% 0.~~022987~~400530% Totals 65.~~293538~~933038% 3.~~483065~~569670% 0.~~504444~~861645% 0.~~024021~~049237% 10.~~305068~~413589% 6.~~225382~~061879% 2.~~423845~~597284% 0.~~378655~~656657% 0.~~032984~~040486% 9.~~060866~~356305%

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 92 10 0 9392 3,~~431~~807,~~256~~125.3053 ~~46,511~~0.8800 0.00 3,~~477~~807,~~768~~125.1853 30 Days 103 74 0 0 ~~110~~107 6,~~290~~240,~~022~~984.9742 ~~261~~128,~~748~~677.5125 0.00 0.00 6,~~551~~369,~~771~~661.4867 60 Days 5644 35 01 0 5950 2,~~920~~370,~~368~~321.0098 86147,~~667~~073.7628 059,863.0047 0.00 32,~~007~~577,~~035~~258.7673 90 Days 1316 23 24 0 1723 1935,~~350,331~~460.40 2693,~~581~~916.0668 ~~102~~134,~~249~~547.2343 0.00 1,~~479~~163,~~161~~924.6951 120 Days 6 2 2 5 0 109 ~~662~~732,~~544~~324.4651 5618,~~607~~763.6070 ~~127~~247,~~075~~657.3058 0.00 ~~846~~998,~~227~~745.3679 150 Days 45 3 2 80 110 ~~15 264~~578,~~253~~510.2757 8468,~~330~~134.6155 ~~255~~127,~~903~~075.0930 ~~98,603~~0.9400 ~~703~~773,~~090~~720.9142 180 Days 4 1 010 02 017 ~~1 68~~208,~~719~~248.0796 069,489.0059 0470,682.0047 0116,864.0078 68865,~~719~~285.0780 Totals ~~183~~174 ~~108~~110 1322 12 ~~305~~308 11,~~556~~065,~~239~~850.1784 34,~~947~~333,~~191~~180.8458 ~~531~~1,~~739~~039,826.5025 98116,~~603~~864.9478 16,~~133~~555,~~774~~722.45 0-29 Days 2.~~865151~~940236% 0.~~031143~~000000% 0.000000% 2.~~896294~~940236% 1.~~671812~~926755% 0.~~022662~~000000% 0.000000% 1.~~694474~~926755% 30 Days 3.~~207723~~291787% 0.~~218001~~127836% 0.000000% 0.000000% 3.~~425724~~419623% 3.~~064690~~158511% 0.~~127532~~065123% 0.000000% 0.000000% 3.~~192221~~223634% 60 Days 1.~~744005~~406200% 0.~~093429~~159795% 0.~~000000~~031959% 0.000000% 1.~~837434~~597955% 1.~~422892~~199601% 0.~~042227~~074433% 0.~~000000~~030296% 0.000000% 1.~~465119~~304330% 90 Days 0.~~404858~~511345% 0.~~062286~~095877% 0.~~062286~~127836% 0.000000% 0.~~529430~~735059% 0.~~657922~~473429% 0.~~012951~~047530% 0.~~049819~~068093% 0.000000% 0.~~720692~~589053% 120 Days 0.~~186858~~063918% 0.~~062286~~063918% 0.~~062286~~159795% 0.000000% 0.~~311429~~287632% 0.~~322812~~370623% 0.~~027581~~009496% 0.~~061915~~125337% 0.000000% 0.~~412308~~505457% 150 Days 0.~~124572~~159795% 0.~~062286~~095877% 0.~~249144~~063918% 0.~~031143~~000000% 0.~~467144~~319591% 0.~~128752~~292779% 0.~~041088~~034482% 0.~~124684~~064312% 0.~~048043~~000000% 0.~~342567~~391574% 180 Days 0.~~031143~~127836% 0.~~000000~~031959% 0.~~000000~~319591% 0.~~000000~~063918% 0.~~031143~~543305% 0.~~033482~~105393% 0.~~000000~~035168% 0.~~000000~~238209% 0.~~000000~~059144% 0.~~033482~~437914% Totals 5.~~699159~~560882% 3.~~363438~~515500% 0.~~404858~~703100% 0.~~031143~~063918% 9.~~498599~~843400% 5.~~630550~~600337% 12.~~923191~~192987% 0.~~259080~~526248% 0.~~048043~~059144% 78.~~860863~~378716% 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 3231 0 0 3231 23,~~971~~043,~~490~~988.2255 0.00 0.00 23,~~971~~043,~~490~~988.2255 30 Days 5445 40 0 0 5845 4,~~815~~004,~~694~~333.8564 ~~289,243~~0.5900 0.00 0.00 54,~~104~~004,~~938~~333.4464 60 Days 1812 02 01 0 1815 1,~~517~~217,~~724~~406.1821 074,994.0028 077,902.0048 0.00 1,~~517~~370,~~724~~302.1897 90 Days 46 0 1 2 0 59 ~~306~~736,~~918~~570.5415 07,032.0020 28164,~~799~~621.4850 0.00 ~~335~~908,~~718~~223.0285 120 Days 3 10 3 0 76 ~~413~~272,~~981~~180.0934 ~~38,073~~0.7300 ~~445~~122,~~725~~487.6998 0.00 ~~897~~394,~~780~~668.5132 150 Days 0 01 4 0 45 0.00 038,073.0073 ~~125~~401,~~710~~540.9563 0.00 ~~125~~439,~~710~~614.9536 180 Days 01 0 03 0 04 0201,762.0072 0.00 089,114.0034 0.00 0290,877.0006 Totals 7967 3735 813 0 ~~124~~115 76,~~054~~432,~~318~~253.6606 3,~~298~~164,~~807~~088.5476 ~~600~~855,~~236~~666.1293 0.00 10,~~953~~452,~~362~~008.3275 0-29 Days 3.~~361345~~322615% 0.000000% 0.000000% 3.~~361345~~322615% 3.~~171122~~342636% 0.000000% 0.000000% 3.~~171122~~342636% 30 Days 54.~~672269~~823151% 0.~~420168~~000000% 0.000000% 0.000000% 64.~~092437~~823151% 54.~~139225~~397201% 0.~~308676~~000000% 0.000000% 0.000000% 54.~~447901~~397201% 60 Days 1.~~890756~~286174% 0.~~000000~~214362% 0.~~000000~~107181% 0.000000% 1.~~890756~~607717% 1.~~619689~~336847% 0.~~000000~~082352% 0.~~000000~~085546% 0.000000% 1.~~619689~~504744% 90 Days 0.~~420168~~643087% 0.~~000000~~107181% 0.~~105042~~214362% 0.000000% 0.~~525210~~964630% 0.~~327538~~808835% 0.~~000000~~007722% 0.~~030734~~180773% 0.000000% 0.~~358272~~997330% 120 Days 0.~~315126~~321543% 0.~~105042~~000000% 0.~~315126~~321543% 0.000000% 0.~~735294~~643087% 0.~~441793~~298884% 0.~~040632~~000000% 0.~~475671~~134505% 0.000000% 0.~~958096~~433389% 150 Days 0.000000% 0.~~000000~~107181% 0.~~420168~~428725% 0.000000% 0.~~420168~~535906% 0.000000% 0.~~000000~~041809% 0.~~134157~~440936% 0.000000% 0.~~134157~~482745% 180 Days 0.~~000000~~107181% 0.000000% 0.~~000000~~321543% 0.000000% 0.~~000000~~428725% 0.~~000000~~221558% 0.000000% 0.~~000000~~097857% 0.000000% 0.~~000000~~319415% Totals 87.~~298319~~181136% 3.~~886555~~751340% 01.~~840336~~393355% 0.000000% 1312.~~025210~~325831% 7.~~528245~~063325% 3.~~520429~~474519% 0.~~640561~~939617% 0.000000% 11.~~689236~~477461%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~191~~184,~~329~~172.0622

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~920257~~910107% Weighted Average Net Coupon 8.~~498445~~487275% Weighted Average Pass-Through Rate 8.~~483445~~472275% Weighted Average Maturity(Stepdown Calculation ) ~~276~~275 Beginning Scheduled Collateral Loan Count 4,~~233~~163 Number Of Loans Paid In Full 70101 Ending Scheduled Collateral Loan Count 4,~~163~~062 Beginning Scheduled Collateral Balance ~~306~~298,~~192~~289,~~217~~199.2953 Ending Scheduled Collateral Balance ~~298~~288,~~289~~027,~~199~~741.5367 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2002 ~~298~~288,~~946~~658,~~451~~101.1227 Monthly P &I Constant 2,~~867~~795,~~302~~694.1114 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 ~~298~~288,~~289~~027,~~199~~741.5367 Scheduled Principal ~~591~~580,~~207~~653.6633 Unscheduled Principal 79,~~311~~680,~~810~~804.1053 Required Overcollateralization Amount 4,164,210.40 Overcollateralized Increase Amount 1719,~~099,918~~287.9505 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,164,210.40 Overcollateralized Amount 34,~~444~~164,~~923~~210.3540 Overcollateralized Deficiency Amount ~~719,287~~0.0500 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 1719,~~099,918~~287.9505 Excess Cash Amount 1,~~099~~030,~~918~~115.9501

Miscellaneous Reporting Rolling Avg 3-Month Del Percent 0.~~022729~~028554% Trigger Event Exists? NO

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed Fixed Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 9.~~138734~~146383 8.~~444390~~392975 8.~~920257~~910107 Weighted Average Net Rate 8.~~723927~~731270 87.~~007320~~953249 8.~~498445~~487275 Weighted Average Maturity ~~268~~267 ~~294~~293 ~~276~~275 Beginning Loan Count 3,~~264~~211 ~~969~~952 4,~~233~~163 Loans Paid In Full 5382 1719 70101 Ending Loan Count 3,~~211~~129 ~~952~~933 4,~~163~~062 Beginning Scheduled Balance ~~209~~204,~~848~~742,~~070~~713.9259 9693,~~344~~546,~~146~~485.3794 ~~306~~298,~~192~~289,~~217~~199.2953 Ending scheduled Balance ~~204~~197,~~742~~116,~~713~~069.5983 9390,~~546~~911,~~485~~671.9484 ~~298~~288,~~289~~027,~~199~~741.5367 Record Date 0607/3031/2002 0607/3031/2002 0607/3031/2002 Principal And Interest Constant 2,~~061~~015,~~706~~438.7360 ~~805~~780,~~595~~255.3854 2,~~867~~795,~~302~~694.1114 Scheduled Principal ~~463~~454,~~585~~675.2655 ~~127~~125,~~622~~977.4078 ~~591~~580,~~207~~653.6633 Unscheduled Principal 47,~~641~~171,~~772~~968.0721 2,~~670~~508,~~038~~836.0332 79,~~311~~680,~~810~~804.1053 Scheduled Interest 1,~~598~~560,~~121~~546.4713 ~~677~~654,~~972~~277.9876 2,~~276~~214,~~094~~823.4589 Servicing Fees 7270,~~538~~826.7221 3534,~~091~~278.0198 ~~107~~105,~~629~~105.7319 Master Servicing Fees 2,~~623~~559.0926 1,~~204~~169.2834 3,~~827~~728.3760 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 0.00 0.00 0.00 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 1,~~522~~487,~~959~~160.66 ~~641~~618,~~677~~829.6944 2,~~164~~105,~~637~~990.3510 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 Fee 0.00 0.00 0.00 Pass-Through Rate 8.~~708927~~716270 7.~~992320~~938249 8.~~483445~~472275

Filing Compare · BEAR STEARNS ASSET BACKED SEC TR ASSET BACK CERT SER 2002-1