8-K 1 bsa01ac1.txt SEPTEMBER 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): September 25, 2002 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2001-AC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-02 Pooling and Servicing Agreement) (Commission 52-2316422 (State or other File Number) 52-2316423 jurisdiction 52-2316421 of Incorporation) 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 September 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2001-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 2001-AC1 Trust, relating to the September 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 2001-AC1 Trust By: Wells Fargo Bank Minnesota, N.A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/1/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2001-AC1 Trust, relating to the September 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Mortgage Pass~~Asset-~~Through~~Backed Certificates Record Date: 78/31/02 Distribution Date: 89/2625/02 BSA Series: 2001-AC1 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-IO 07384YAS5 IO 8.00000% 0.00 161,333.33 0.00 I-A1 07384YAM8 SEN 1.~~98688~~96000% 95,~~931~~672,~~351~~451.0599 179,~~539~~265.9100 45,~~258~~056,~~899~~379.0611 I-A2 07384YAN6 SEN 5.64000% 40,056,000.00 188,263.20 0.00 I-A3 07384YAP1 SEN 6.35000% 16,107,000.00 85,232.8887 0.00 I-A4 07384YAQ9 SEN 6.90000% 24,405,000.00 140,328.75 0.00 I-A5 07384YAW6 SEN 7.~~34075~~25711% 13,250,000.00 8180,~~054~~130.0654 0.00 II-A 07384YAR7 SEN 7.00000% 6256,~~022~~180,~~900~~197.2760 ~~361~~327,~~800~~717.2582 57,~~842~~439,~~702~~405.6745 M-1 07384YAT3 SUB 6.85000% 4,841,000.00 27,634.04 0.00 M-2 07384YAU0 SUB 7.00000% 4,236,000.00 24,710.00 0.00 B 07384YAV8 SUB 7.00000% 3,025,000.00 17,645.83 0.00 B-IO BSA1ACBIO IO 0.00000% 605,159.64 ~~116~~117,~~572~~352.3618 0.00 P BSA01AC1P SUB 0.00000% 100.00 0.00 0.00 R-1 BSA01ACR1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA01ACR2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA01ACR3 RES 0.00000% 0.00 0.00 0.00 Totals ~~178~~168,~~479~~377,~~510~~909.9623 1,~~222~~179,~~114~~613.6156 1012,~~101~~495,~~601~~784.7356

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 161,333.33 0.00 I-A1 0.00 5616,~~672,451~~072.9988 45,~~276~~065,~~438~~644.9711 0.00 I-A2 0.00 40,056,000.00 188,263.20 0.00 I-A3 0.00 16,107,000.00 85,232.8887 0.00 I-A4 0.00 24,405,000.00 140,328.75 0.00 I-A5 0.00 13,250,000.00 8180,~~054~~130.0654 0.00 II-A 0.00 5648,~~180~~740,~~197~~792.6015 67,~~204~~767,~~502~~123.9227 0.00 M-1 0.00 4,841,000.00 27,634.04 0.00 M-2 0.00 4,236,000.00 24,710.00 0.00 B 0.00 3,025,000.00 17,645.83 0.00 B-IO 0.00 605,159.64 ~~116~~117,~~572~~352.3618 0.00 P 0.00 100.00 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 ~~168~~155,~~377~~882,~~909~~124.2367 1113,~~323~~675,~~716~~398.3412 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-IO 0.00 0.00 0.00 0.00 0.00 0.00 I-A1 38,552,000.00 95,~~931~~672,~~351~~451.0599 0.00 45,~~258~~056,~~899~~379.0611 0.00 0.00 I-A2 40,056,000.00 40,056,000.00 0.00 0.00 0.00 0.00 I-A3 16,107,000.00 16,107,000.00 0.00 0.00 0.00 0.00 I-A4 24,405,000.00 24,405,000.00 0.00 0.00 0.00 0.00 I-A5 13,250,000.00 13,250,000.00 0.00 0.00 0.00 0.00 II-A 97,591,000.00 6256,~~022~~180,~~900~~197.2760 0.00 57,~~842~~439,~~702~~405.6745 0.00 0.00 M-1 4,841,000.00 4,841,000.00 0.00 0.00 0.00 0.00 M-2 4,236,000.00 4,236,000.00 0.00 0.00 0.00 0.00 B 3,025,000.00 3,025,000.00 0.00 0.00 0.00 0.00 B-IO 756.67 605,159.64 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 242,063,856.67 ~~178~~168,~~479~~377,~~510~~909.9623 0.00 1012,~~101~~495,~~601~~784.7356 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-IO 0.00 0.00 0.00000000 0.00 I-A1 45,~~258~~056,~~899~~379.0611 5616,~~672,451~~072.9988 0.~~14713768~~01598031 45,~~258~~056,~~899~~379.0611 I-A2 0.00 40,056,000.00 1.00000000 0.00 I-A3 0.00 16,107,000.00 1.00000000 0.00 I-A4 0.00 24,405,000.00 1.00000000 0.00 I-A5 0.00 13,250,000.00 1.00000000 0.00 II-A 57,~~842~~439,~~702~~405.6745 5648,~~180~~740,~~197~~792.6015 0.~~57566986~~49943942 57,~~842~~439,~~702~~405.6745 M-1 0.00 4,841,000.00 1.00000000 0.00 M-2 0.00 4,236,000.00 1.00000000 0.00 B 0.00 3,025,000.00 1.00000000 0.00 B-IO 0.00 605,159.64 799.76692614 0.00 P 0.00 100.00 1.00000000 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 1012,~~101~~495,~~601~~784.7356 ~~168~~155,~~377~~882,~~909~~124.2367 0.~~69559294~~64397109 1012,~~101~~495,~~601~~784.7356

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 38,552,000.00 ~~257~~147.~~60923039~~13768391 0.00000000 ~~110~~131.~~47154648~~15737471 0.00000000 I-A2 40,056,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A3 16,107,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A4 24,405,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A5 13,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A 97,591,000.00 ~~635~~575.~~53914060~~66986300 0.00000000 5976.~~86927760~~23044594 0.00000000 M-1 4,841,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 4,236,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 3,025,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 756.67 799766.92613689 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 Per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 0.00000000 ~~110~~131.~~47154648~~15737471 ~~147~~15.~~13768391~~98030919 0.~~14713768~~01598031 ~~110~~131.~~47154648~~15737471 I-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 I-A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A 0.00000000 5976.~~86927760~~23044594 ~~575~~499.~~66986300~~43941706 0.~~57566986~~49943942 5976.~~86927760~~23044594 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 799,766.92613689 799.76692614 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 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 A-IO 0.00 8.00000% 24,200,000.00 161,333.33 0.00 0.00 I-A1 38,552,000.00 1.~~98688~~96000% 0.00 179,~~539~~265.9100 0.00 0.00 I-A2 40,056,000.00 5.64000% 0.00 188,263.20 0.00 0.00 I-A3 16,107,000.00 6.35000% 0.00 85,232.88 0.00 0.00 I-A4 24,405,000.00 6.90000% 0.00 140,328.75 0.00 0.00 I-A5 13,250,000.00 7.~~34075~~25711% 0.00 8180,~~054~~130.0654 0.00 0.00 II-A 97,591,000.00 7.00000% 0.00 ~~361~~327,~~800~~717.2582 0.00 0.00 M-1 4,841,000.00 6.85000% 0.00 27,634.04 0.00 0.00 M-2 4,236,000.00 7.00000% 0.00 24,710.00 0.00 0.00 B 3,025,000.00 7.00000% 0.00 17,645.83 0.00 0.00 B-IO 756.67 0.00000% 0.00 0.00 0.00 0.00 P 100.00 0.00000% 0.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 242,063,856.67 1,~~105~~062,~~542~~261.2539 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-IO 0.00 0.00 161,333.33 0.00 24,200,000.00 I-A1 0.00 0.00 179,~~539~~265.9100 0.00 0.00 I-A2 0.00 0.00 188,263.20 0.00 0.00 I-A3 0.00 0.00 85,232.8887 0.00 0.00 I-A4 0.00 0.00 140,328.75 0.00 0.00 I-A5 0.00 0.00 8180,~~054~~130.0654 0.00 0.00 II-A 0.00 0.00 ~~361~~327,~~800~~717.2582 0.00 0.00 M-1 0.00 0.00 27,634.04 0.00 0.00 M-2 0.00 0.00 24,710.00 0.00 0.00 B 0.00 0.00 17,645.83 0.00 0.00 B-IO 0.00 0.00 ~~116~~117,~~572~~352.3618 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 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,~~222~~179,~~114~~613.6156 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-IO 0.00 8.00000% 1000.00000000 6.66666653 0.00000000 0.00000000 I-A1 38,552,000.00 1.~~98688~~96000% 0.00000000 0.~~45496758~~24032476 0.00000000 0.00000000 I-A2 40,056,000.00 5.64000% 0.00000000 4.70000000 0.00000000 0.00000000 I-A3 16,107,000.00 6.35000% 0.00000000 5.29166698 0.00000000 0.00000000 I-A4 24,405,000.00 6.90000% 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 13,250,000.00 7.~~34075~~25711% 0.00000000 6.~~11728755~~04758792 0.00000000 0.00000000 II-A 97,591,000.00 7.00000% 0.00000000 3.~~70731164~~35807421 0.00000000 0.00000000 M-1 4,841,000.00 6.85000% 0.00000000 5.70833299 0.00000000 0.00000000 M-2 4,236,000.00 7.00000% 0.00000000 5.83333333 0.00000000 0.00000000 B 3,025,000.00 7.00000% 0.00000000 5.83333223 0.00000000 0.00000000 B-IO 756.67 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 All denominations are per $1,000.

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-IO 0.00000000 0.00000000 6.66666653 0.00000000 1000.00000000 I-A1 0.00000000 0.00000000 0.~~45496758~~24032476 0.00000000 0.00000000 I-A2 0.00000000 0.00000000 4.70000000 0.00000000 0.00000000 I-A3 0.00000000 0.00000000 5.~~29166698~~29166636 0.00000000 0.00000000 I-A4 0.00000000 0.00000000 5.75000000 0.00000000 0.00000000 I-A5 0.00000000 0.00000000 6.~~11728755~~04758792 0.00000000 0.00000000 II-A 0.00000000 0.00000000 3.~~70731164~~35807421 0.00000000 0.00000000 M-1 0.00000000 0.00000000 5.70833299 0.00000000 0.00000000 M-2 0.00000000 0.00000000 5.83333333 0.00000000 0.00000000 B 0.00000000 0.00000000 5.83333223 0.00000000 0.00000000 B-IO 0.00000000 0.00000000 ~~154059~~155090.~~70898807~~30356694 0.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 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 (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 1113,~~270~~581,~~934~~512.7645 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~119~~128,~~711~~268.1432 Realized Losses ~~(31,029~~0.~~20)~~00 Prepayment Penalties 0.00 Total Deposits 1113,~~359~~709,~~616~~780.7077 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 3534,~~900~~382.3665 Payment of Interest and Principal 1113,~~323~~675,~~716~~398.3412 Total Withdrawals (Pool Distribution Amount) 1113,~~359~~709,~~616~~780.7077 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~1,282~~696.8709 Servicing Fee Support ~~1,282~~696.8709 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 3735,~~183~~078.2374 Trustee Fee 0.00 Supported Prepayment/Curtailment Interest Shortfall ~~1,282~~696.8709 Net Servicing Fee 3534,~~900~~382.3665

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 3 0 0 3 476,~~898~~693.7780 0.00 0.00 476,~~898~~693.7780 30 Days 2728 0 0 0 2728 45,~~769~~033,~~141~~408.1105 0.00 0.00 0.00 45,~~769~~033,~~141~~408.1105 60 Days 1816 1 0 0 1917 42,~~293~~804,~~428~~870.5315 160,~~722~~633.8211 0.00 0.00 42,~~454~~965,~~151~~503.3526 90 Days 32 0 18 0 410 ~~522~~651,~~495~~953.9261 0.00 ~~104~~1,~~031~~776,398.2036 0.00 ~~626~~2,~~527~~428,351.1297 120 Days 10 0 43 0 53 ~~108,436~~0.0100 0.00 ~~906~~538,~~082~~191.2361 0.00 1538,~~014,518~~191.2461 150 Days 21 01 3 0 5 ~~228~~169,~~099~~306.7351 0108,436.0001 ~~452~~736,~~114~~775.4672 0.00 ~~680~~1,~~214~~014,518.1924 180+ Days 3 2 113 11 5 1923 ~~557~~589,~~807~~370.2449 ~~153~~263,~~472~~761.9987 12,~~975~~519,~~476~~128.8277 ~~668~~750,~~386~~791.8860 34,~~355~~123,~~143~~052.9373 Totals 5350 57 1927 5 8289 109,~~479~~248,~~408~~908.5481 ~~791~~1,~~094~~009,524.5879 35,~~437~~570,~~704~~494.7146 ~~668~~750,~~386~~791.8860 1516,~~376~~579,~~594~~719.7166 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.~~308325~~323625% 0.000000% 0.000000% 0.~~308325~~323625% 0.~~282974~~305511% 0.000000% 0.000000% 0.~~282974~~305511% 30 Days 23.~~774923~~020496% 0.000000% 0.000000% 0.000000% 23.~~774923~~020496% 23.~~829829~~225889% 0.000000% 0.000000% 0.000000% 23.~~829829~~225889% 60 Days 1.~~849949~~725998% 0.~~102775~~107875% 0.000000% 0.000000% 1.~~952724~~833873% 21.~~547559~~797629% 0.~~095367~~102949% 0.000000% 0.000000% 21.~~642926~~900578% 90 Days 0.~~308325~~215750% 0.000000% 0.~~102775~~862999% 0.000000% 01.~~411100~~078749% 0.~~310029~~417834% 0.000000% 01.~~061728~~138486% 0.000000% 01.~~371758~~556320% 120 Days 0.~~102775~~000000% 0.000000% 0.~~411100~~323625% 0.000000% 0.~~513875~~323625% 0.~~064342~~000000% 0.000000% 0.~~537635~~344925% 0.000000% 0.~~601977~~344925% 150 Days 0.~~205550~~107875% 0.~~000000~~107875% 0.~~308325~~323625% 0.000000% 0.~~513875~~539374% 0.~~135346~~108508% 0.~~000000~~069496% 0.~~268268~~472196% 0.000000% 0.~~403614~~650200% 180+ Days 0.~~205550~~323625% 0.~~102775~~215750% 1.~~130524~~402373% 0.~~513875~~539374% 12.~~952724~~481122% 0.~~330982~~377725% 0.~~091065~~169044% 1.~~172174~~614499% 0.~~396596~~481179% 12.~~990816~~642447% Totals 5.~~447071~~393743% 0.~~513875~~755124% 12.~~952724~~912621% 0.~~513875~~539374% 89.~~427544~~600863% 65.~~218087~~927585% 0.~~469406~~647000% 23.~~039805~~570106% 0.~~396596~~481179% 910.~~123893~~625870% Delinquencies are stratified according to the information provided by the servicer. All 90 day delinquencies reported are actually 90+ day delinquencies.

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 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 3 0 0 3 476,~~898~~693.7780 0.00 0.00 476,~~898~~693.7780 30 Days 2122 0 0 0 2122 23,~~547~~012,~~927~~282.9064 0.00 0.00 0.00 23,~~547~~012,~~927~~282.9064 60 Days 1213 1 0 0 1314 1,~~833~~487,~~199~~849.4508 160,~~722~~633.8211 0.00 0.00 1,~~993~~648,~~922~~482.2719 90 Days 31 0 15 0 46 ~~522~~198,~~495~~205.9227 0.00 ~~104~~638,~~031~~026.2035 0.00 ~~626~~836,~~527~~231.1262 120 Days 10 0 3 0 43 ~~108,436~~0.0100 0.00 ~~372~~538,~~676~~191.1161 0.00 ~~481~~538,~~112~~191.1261 150 Days 21 01 2 0 4 ~~228~~169,~~099~~306.7351 0108,436.0001 ~~130~~203,~~051~~369.8360 0.00 ~~358~~481,~~151~~112.5612 180 Days 12 12 89 4 1417 ~~215~~246,~~155~~718.3358 ~~153~~263,~~472~~761.9987 1,~~021~~243,~~485~~074.2759 ~~272~~355,~~676~~081.3204 12,~~662~~108,~~789~~636.9108 Totals 4039 57 1419 4 6369 5,~~455~~114,~~314~~362.3408 ~~791~~1,~~094~~009,524.5879 12,~~628~~622,~~244~~662.4115 ~~272~~355,~~676~~081.3204 89,~~147~~101,~~329~~630.6506 0-29 Days 0.~~364078~~377834% 0.000000% 0.000000% 0.~~364078~~377834% 0.~~446926~~468963% 0.000000% 0.000000% 0.~~446926~~468963% 30 Days 2.~~548544~~770781% 0.000000% 0.000000% 0.000000% 2.~~548544~~770781% 2.~~387791~~963432% 0.000000% 0.000000% 0.000000% 2.~~387791~~963432% 60 Days 1.~~456311~~637280% 0.~~121359~~125945% 0.000000% 0.000000% 1.~~577670~~763224% 1.~~717983~~463720% 0.~~150621~~158028% 0.000000% 0.000000% 1.~~868604~~621748% 90 Days 0.~~364078~~125945% 0.000000% 0.~~121359~~629723% 0.000000% 0.~~485437~~755668% 0.~~489657~~194991% 0.000000% 0.~~097493~~627679% 0.000000% 0.~~587150~~822670% 120 Days 0.~~121359~~000000% 0.000000% 0.~~364078~~377834% 0.000000% 0.~~485437~~377834% 0.~~101621~~000000% 0.000000% 0.~~349253~~529464% 0.000000% 0.~~450874~~529464% 150 Days 0.~~242718~~125945% 0.~~000000~~125945% 0.~~242718~~251889% 0.000000% 0.~~485437~~503778% 0.~~213764~~166561% 0.~~000000~~106677% 0.~~121878~~200072% 0.000000% 0.~~335642~~473310% 180 Days 0.~~121359~~251889% 0.~~121359~~251889% 01.~~970874~~133501% 0.~~485437~~503778% 12.~~699029~~141058% 0.~~201633~~242717% 0.~~143827~~259484% 01.~~957285~~222915% 0.~~255539~~349323% 12.~~558284~~074440% Totals 4.~~854369~~911839% 0.~~606796~~881612% 12.~~699029~~392947% 0.~~485437~~503778% 78.~~645631~~690176% 5.~~112448~~031421% 0.~~741374~~993153% 12.~~525909~~580130% 0.~~255539~~349323% 78.~~635271~~954027% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 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 6 0 0 0 6 2,~~221~~021,~~213~~125.2141 0.00 0.00 0.00 2,~~221~~021,~~213~~125.2141 60 Days 63 0 0 0 63 21,~~460~~317,~~229~~021.0807 0.00 0.00 0.00 21,~~460~~317,~~229~~021.0807 90 Days 01 0 03 0 04 0453,748.0034 0.00 01,138,372.0001 0.00 01,592,120.0035 120 Days 0 0 10 0 10 0.00 0.00 ~~533,406~~0.1200 0.00 ~~533,406~~0.1200 150 Days 0 0 1 0 1 0.00 0.00 ~~322~~533,~~062~~406.6312 0.00 ~~322~~533,~~062~~406.6312 180 Days 1 0 34 1 56 342,651.91 0.00 ~~953~~1,~~991~~276,054.5518 395,710.56 12,~~692~~014,~~354~~416.0265 Totals 1311 0 58 1 1920 54,~~024~~134,~~094~~546.2073 0.00 12,~~809~~947,~~460~~832.3031 395,710.56 7,~~229~~478,~~265~~089.0660 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 4.~~026846~~511278% 0.000000% 0.000000% 0.000000% 4.~~026846~~511278% 3.~~592767~~716453% 0.000000% 0.000000% 0.000000% 3.~~592767~~716453% 60 Days 42.~~026846~~255639% 0.000000% 0.000000% 0.000000% 42.~~026846~~255639% 32.~~979370~~421743% 0.000000% 0.000000% 0.000000% 32.~~979370~~421743% 90 Days 0.~~000000~~751880% 0.000000% 02.~~000000~~255639% 0.000000% 03.~~000000~~007519% 0.~~000000~~834354% 0.000000% 02.~~000000~~093243% 0.000000% 02.~~000000~~927597% 120 Days 0.000000% 0.000000% 0.~~671141~~000000% 0.000000% 0.~~671141~~000000% 0.000000% 0.000000% 0.~~862774~~000000% 0.000000% 0.~~862774~~000000% 150 Days 0.000000% 0.000000% 0.~~671141~~751880% 0.000000% 0.~~671141~~751880% 0.000000% 0.000000% 0.~~520930~~980829% 0.000000% 0.~~520930~~980829% 180 Days 0.~~671141~~751880% 0.000000% 23.~~013423~~007519% 0.~~671141~~751880% 34.~~355705~~511278% 0.~~554232~~630070% 0.000000% 12.~~543062~~346413% 0.~~640054~~727634% 23.~~737348~~704117% Totals 8.~~724832~~270677% 0.000000% 36.~~355705~~015038% 0.~~671141~~751880% 1215.~~751678~~037594% 87.~~126370~~602620% 0.000000% 25.~~926765~~420485% 0.~~640054~~727634% 1113.~~693189~~750738%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~119~~128,~~711~~268.1432

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~675463~~656900% Weighted Average Net Coupon 8.~~425463~~406900% Weighted Average Pass-Through Rate 8.~~425463~~406900% Weighted Average Maturity(Stepdown Calculation ) ~~322~~321 Beginning Scheduled Collateral Loan Count ~~1,015~~973 Number Of Loans Paid In Full 4246 Ending Scheduled Collateral Loan Count ~~973~~927 Beginning Scheduled Collateral Balance ~~178~~168,~~479~~377,~~510~~909.9623 Ending Scheduled Collateral Balance ~~168~~155,~~377~~882,~~909~~124.2367 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2002 ~~168~~156,~~531~~031,~~070~~640.4270 Monthly P &I Constant 1,~~420~~340,~~972~~718.3022 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount ~~31,029~~0.2000 Cumulative Realized Loss 31,029.20 Ending Scheduled Balance for Premium Loans ~~168~~155,~~377~~882,~~909~~124.2367 Scheduled Principal ~~124~~117,~~026~~510.5020 Unscheduled Principal 912,~~977~~378,~~575~~274.2336 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~31,029~~0.2000 Overcollateralized reduction Amount 0.00 Specified O/C Amount 605,159.64 Overcollateralized Amount 605,159.64 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~31,029~~0.2000 Excess Cash Amount ~~147~~117,~~601~~352.5618

Miscellaneous Reporting 3 Month Rolling Delinquency Average 45.~~468766~~688388%

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.~~794738~~696317 8.~~479766~~588859 8.~~675463~~656900 Weighted Average Net Rate 8.~~544738~~446317 8.~~229766~~338859 8.~~425463~~406900 Weighted Average Maturity ~~316~~315 ~~330~~329 ~~322~~321 Beginning Loan Count ~~853~~824 ~~162~~149 ~~1,015~~973 Loans Paid In Full 2930 1316 4246 Ending Loan Count ~~824~~794 ~~149~~133 ~~973~~927 Beginning Scheduled Balance ~~110~~106,~~892~~615,~~350~~504.5540 6761,~~587~~762,~~160~~404.4183 ~~178~~168,~~479~~377,~~510~~909.9623 Ending scheduled Balance ~~106~~101,~~615~~559,~~504~~125.4029 6154,~~762~~322,~~404~~999.8338 ~~168~~155,~~377~~882,~~909~~124.2367 Record Date 0708/31/2002 0708/31/2002 0708/31/2002 Principal And Interest Constant ~~891~~858,~~987~~122.5020 ~~528~~482,~~984~~596.8002 1,~~420~~340,~~972~~718.3022 Scheduled Principal 7976,~~263~~971.2332 4440,~~763~~538.2788 ~~124~~117,~~026~~510.5020 Unscheduled Principal 4,~~197~~979,~~582~~407.9279 57,~~779~~398,~~992~~866.3157 912,~~977~~378,~~575~~274.2336 Scheduled Interest ~~812~~772,~~724~~635.2718 ~~477~~442,~~602~~057.7814 1,~~290~~214,~~327~~692.0532 Servicing Fees 2322,~~102~~211.57 1412,~~080~~867.6617 3735,~~183~~078.2374 Master Servicing Fees 0.00 0.00 0.00 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 ~~789~~750,~~621~~423.7061 ~~463~~429,~~522~~189.1297 1,~~253~~179,~~143~~613.8258 Realized Loss Amount ~~31,029~~0.2000 0.00 ~~31,029~~0.2000 Cumulative Realized Loss 31,029.20 0.00 31,029.20 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.~~544738~~446317 8.~~229766~~338859 8.~~425463~~406900

Filing Compare · BEAR STEARNS AS BCK SEC TR 2001-AC1 AS-BCK CER SER 2001-AC1