8-K 1 arc02bc4.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 AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC4 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82904-15 Pooling and Servicing Agreement) (Commission (State or other File Number) Pending 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 September 25, 2002 a distribution was made to holders of AMORTIZING RESIDENTIAL COLLATERAL TRUST, Mortgage Pass-Through Certificates, Series 2002-BC4 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-BC4 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. AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC4 Trust By: Wells Fargo Bank, N. A. as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/25/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC4 Trust, relating to the September 25, 2002 distribution. EX-99.1

Amortizing Residential Collateral Mortgage Trus Mortgage Pass-Through Certificates Record Date: 78/31/02 Distribution Date: 89/2625/02 ARC Series: 2002-BC4 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 86358RW45 SEN 2.~~12688~~10000% ~~538~~533,~~419~~460,~~212~~137.2827 1933,~~017,913~~555.8324 46,~~959~~443,~~075~~047.0170 A-IO 86358RW52 SEN 6.00000% 0.00 1,097,401.90 0.00 M-1 86358RW60 MEZ 2.~~53688~~51000% 39,905,000.00 8983,~~985~~467.9596 0.00 M-2 86358RW78 MEZ 2.~~98688~~96000% 36,580,000.00 9790,~~120~~230.0667 0.00 M-3 86358RW86 MEZ 3.~~73688~~71000% 29,929,000.00 9992,~~414~~530.2949 0.00 B-1 86358RW94 SUB 4.~~08688~~06000% 12,304,000.00 4441,~~697~~628.7553 0.00 B-2 ARN02B4B2 SUB 7.75000% 4341,~~300~~307,~~869~~316.3723 ~~279~~266,~~651~~776.4542 12,~~993~~128,~~553~~996.1419 X ARC02BC3X SEN 0.00000% 4,324,064.45 0.00 0.00 R1 ARC02B3R1 RES 0.00000% 0.00 0.00 0.00 R2 ARC02B3R2 RES 0.00000% 0.00 0.00 0.00 R3 ARC02B3R3 RES 0.00000% 0.00 0.00 0.00 Totals ~~704~~697,~~762~~809,~~146~~517.1095 2,~~726~~605,~~185~~591.2321 68,~~952~~572,~~628~~043.1589

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~533~~527,~~460~~017,~~137~~089.2757 57,~~976~~376,~~988~~602.8494 0.00 A-IO 0.00 0.00 1,097,401.90 0.00 M-1 0.00 39,905,000.00 8983,~~985~~467.9596 0.00 M-2 0.00 36,580,000.00 9790,~~120~~230.0667 0.00 M-3 0.00 29,929,000.00 9992,~~414~~530.2949 0.00 B-1 0.00 12,304,000.00 4441,~~697~~628.7553 0.00 B-2 0.00 4139,~~307~~178,~~316~~320.2304 2,~~273~~395,~~204~~772.5961 0.00 X 0.00 4,324,064.45 0.00 0.00 R1 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~697~~689,~~809~~237,~~517~~474.9506 911,~~678~~177,~~813~~635.3810 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 542,050,000.00 ~~538~~533,~~419~~460,~~212~~137.2827 0.00 46,~~959~~443,~~075~~047.0170 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 39,905,000.00 39,905,000.00 0.00 0.00 0.00 0.00 M-2 36,580,000.00 36,580,000.00 0.00 0.00 0.00 0.00 M-3 29,929,000.00 29,929,000.00 0.00 0.00 0.00 0.00 B-1 12,304,000.00 12,304,000.00 0.00 0.00 0.00 0.00 B-2 44,740,000.00 4341,~~300~~307,~~869~~316.3723 0.00 12,~~993~~128,~~553~~996.1419 0.00 0.00 X 4,324,064.45 4,324,064.45 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 Totals 709,832,064.45 ~~704~~697,~~762~~809,~~146~~517.1095 0.00 68,~~952~~572,~~628~~043.1589 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 46,~~959~~443,~~075~~047.0170 ~~533~~527,~~460~~017,~~137~~089.2757 0.~~98415301~~97226656 46,~~959~~443,~~075~~047.0170 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 39,905,000.00 1.00000000 0.00 M-2 0.00 36,580,000.00 1.00000000 0.00 M-3 0.00 29,929,000.00 1.00000000 0.00 B-1 0.00 12,304,000.00 1.00000000 0.00 B-2 12,~~993~~128,~~553~~996.1419 4139,~~307~~178,~~316~~320.2304 0.~~92327484~~87568887 12,~~993~~128,~~553~~996.1419 X 0.00 4,324,064.45 1.00000000 0.00 R1 0.00 0.00 0.00000000 0.00 R2 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 68,~~952~~572,~~628~~043.1589 ~~697~~689,~~809~~237,~~517~~474.9506 0.~~98306283~~97098667 68,~~952~~572,~~628~~043.1589

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 542,050,000.00 ~~993~~984.~~30174759~~15300668 0.00000000 911.~~14874091~~88644535 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 39,905,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 36,580,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 29,929,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 12,304,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 44,740,000.00 ~~967~~923.~~83346826~~27483751 0.00000000 4447.~~55863076~~58596759 0.00000000 X 4,324,064.45 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are 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 911.~~14874091~~88644535 ~~984~~972.~~15300668~~26656133 0.~~98415301~~97226656 911.~~14874091~~88644535 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 4447.~~55863076~~58596759 ~~923~~875.~~27483751~~68886992 0.~~92327484~~87568887 4447.~~55863076~~58596759 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 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 542,050,000.00 2.~~12688~~10000% ~~538~~533,~~419~~460,~~212~~137.2827 1933,~~017,913~~555.8324 0.00 0.00 A-IO 0.00 6.00000% 219,480,381.00 1,097,401.90 0.00 0.00 M-1 39,905,000.00 2.~~53688~~51000% 39,905,000.00 8983,~~985~~467.9596 0.00 0.00 M-2 36,580,000.00 2.~~98688~~96000% 36,580,000.00 9790,~~120~~230.0667 0.00 0.00 M-3 29,929,000.00 3.~~73688~~71000% 29,929,000.00 9992,~~414~~530.2949 0.00 0.00 B-1 12,304,000.00 4.~~08688~~06000% 12,304,000.00 4441,~~697~~628.7553 0.00 0.00 B-2 44,740,000.00 7.75000% 4341,~~300~~307,~~869~~316.3723 ~~279~~266,~~651~~776.4542 0.00 0.00 X 4,324,064.45 0.00000% 4,324,064.45 0.00 0.00 0.00 R1 0.00 0.00000% 0.00 0.00 0.00 0.00 R2 0.00 0.00000% 0.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 709,832,064.45 2,~~726~~605,~~185~~591.2321 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 0.0001 0.00 1933,~~017,913~~555.8324 0.00 ~~533~~527,~~460~~017,~~137~~089.2757 A-IO 0.0001 0.00 1,097,401.90 0.00 219,480,381.00 M-1 0.00 0.00 8983,~~985~~467.9596 0.00 39,905,000.00 M-2 0.00 0.00 9790,~~120~~230.0667 0.00 36,580,000.00 M-3 0.00 0.00 9992,~~414~~530.2949 0.00 29,929,000.00 B-1 0.00 0.00 4441,~~697~~628.7553 0.00 12,304,000.00 B-2 0.00 0.00 ~~279~~266,~~651~~776.4542 0.00 4139,~~307~~178,~~316~~320.2304 X 0.00 0.00 0.00 0.00 4,324,064.45 R1 0.00 0.00 0.00 0.00 0.00 R2 0.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.0002 0.00 2,~~726~~605,~~185~~591.2321 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 542,050,000.00 2.~~12688~~10000% ~~993~~984.~~30174759~~15300668 1.~~87789656~~72226776 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 4.99999998 0.00000000 0.00000000 M-1 39,905,000.00 2.~~53688~~51000% 1000.00000000 2.~~25500439~~09166671 0.00000000 0.00000000 M-2 36,580,000.00 2.~~98688~~96000% 1000.00000000 2.~~65500437~~46666676 0.00000000 0.00000000 M-3 29,929,000.00 3.~~73688~~71000% 1000.00000000 3.~~32167095~~09166661 0.00000000 0.00000000 B-1 12,304,000.00 4.~~08688~~06000% 1000.00000000 3.~~63278202~~38333306 0.00000000 0.00000000 B-2 44,740,000.00 7.75000% ~~967~~923.~~83346826~~27483751 65.~~25059119~~96281672 0.00000000 0.00000000 X 4,324,064.45 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are 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~~00000002 0.00000000 1.~~87789656~~72226776 0.00000000 ~~984~~972.~~15300668~~26656133 A-IO 0.~~00000000~~00000005 0.00000000 4.99999998 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 2.~~25500439~~09166671 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~65500437~~46666676 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 3.~~32167095~~09166661 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~63278202~~38333306 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 65.~~25059119~~96281672 0.00000000 ~~923~~875.~~27483751~~68886992 X 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 R1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3 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 911,~~843~~269,~~552~~874.5465 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5292,~~334~~465.5370 Realized Losses 0.00 Prepayment Penalties 72102,~~605~~825.3077 Total Deposits 911,~~968~~465,~~492~~166.3712 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~289~~287,~~678~~531.9902 Payment of Interest and Principal 911,~~678~~177,~~813~~635.3810 Total Withdrawals (Pool Distribution Amount) 911,~~968~~465,~~492~~166.3712 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~278~~276,~~654~~589.6632 Credit Risk Manager's Fee 8,~~268~~206.2728 Securities Administrator Fee 2,~~756~~735.0642 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~289~~287,~~678~~531.9902

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund ~~866~~838,~~837~~954.5034 2738,~~883~~625.1609 0.00 ~~838~~800,~~954~~329.3425 Reserve Fund 1,000.00 0.00 0.00 1,000.00

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 36 0 0 36 ~~218~~588,~~775~~178.2598 0.00 0.00 ~~218~~588,~~775~~178.2598 30 Days 3860 1 01 0 3962 56,~~086~~283,~~533~~711.0559 6187,~~621~~924.0380 0123,962.0036 0.00 56,~~148~~495,~~154~~598.0875 60 Days 76 02 517 0 1225 ~~581~~564,~~232~~248.4111 087,710.0004 ~~301~~3,~~431~~076,552.9593 0.00 ~~882~~3,~~664~~728,511.3608 90 Days 1 0 07 0 18 72104,~~131~~975.7500 0.00 0406,414.0065 0.00 72511,~~131~~389.7565 120 Days 01 0 0 0 01 072,131.0075 0.00 0.00 0.00 072,131.0075 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 4668 49 525 0 55102 57,~~739~~025,~~897~~066.2145 ~~280~~763,~~396~~813.2882 ~~301~~3,~~431~~606,929.9594 0.00 611,~~321~~395,~~725~~810.4421 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.~~065445~~132129% 0.000000% 0.000000% 0.~~065445~~132129% 0.~~033306~~090428% 0.000000% 0.000000% 0.~~033306~~090428% 30 Days 01.~~828970~~321295% 0.~~021815~~022022% 0.~~000000~~022022% 0.000000% 01.~~850785~~365338% 0.~~774364~~966075% 0.~~009381~~013518% 0.~~000000~~019058% 0.000000% 0.~~783745~~998652% 60 Days 0.~~152705~~132129% 0.~~000000~~044043% 0.~~109075~~374367% 0.000000% 0.~~261780~~550540% 0.~~088486~~086749% 0.~~000000~~013485% 0.~~045889~~472998% 0.000000% 0.~~134375~~573232% 90 Days 0.~~021815~~022022% 0.000000% 0.~~000000~~154151% 0.000000% 0.~~021815~~176173% 0.~~010981~~016139% 0.000000% 0.~~000000~~062483% 0.000000% 0.~~010981~~078622% 120 Days 0.~~000000~~022022% 0.000000% 0.000000% 0.000000% 0.~~000000~~022022% 0.~~000000~~011090% 0.000000% 0.000000% 0.000000% 0.~~000000~~011090% 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 1.~~003490~~497468% 0.~~087260~~198194% 0.~~109075~~550540% 0.000000% 12.~~199825~~246201% 01.~~873830~~080053% 0.~~042687~~117431% 0.~~045889~~554540% 0.000000% 01.~~962407~~752024%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5292,~~334~~465.5370

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 8.~~923131~~921221% Weighted Average Net Coupon 8.~~417605~~415652% Weighted Average Pass-Through Rate 8.~~412604~~410652% Weighted Average Maturity(Stepdown Calculation ) ~~340~~339 Beginning Scheduled Collateral Loan Count 4,~~615~~584 Number Of Loans Paid In Full 3143 Ending Scheduled Collateral Loan Count 4,~~584~~541 Beginning Scheduled Collateral Balance ~~661~~656,~~461~~502,~~276~~201.7372 Ending Scheduled Collateral Balance ~~656~~650,~~502~~059,~~201~~154.7202 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2002 ~~656~~650,~~866~~436,~~217~~947.9410 Monthly P &I Constant 5,~~341~~314,~~887~~401.3561 Special Servicing Fee 0.00 Prepayment Penalties 72102,~~605~~825.3077 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~656~~650,~~502~~059,~~201~~154.7202 Scheduled Principal ~~432~~433,~~958~~734.4202 Unscheduled Principal 46,~~526~~009,~~116~~313.5968 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,324,064.45 Overcollateralized Amount 4,324,064.45 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,~~172~~254,~~716~~321.1375

Libor Rate Used 1.~~83688~~8100%

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERTS SER 2002 BC4