8-K 1 bsa02002.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 2002-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-13 Pooling and Servicing Agreement) (Commission 51-0423835 (State or other File Number) 51-0423843 jurisdiction 51-0423846 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 2002-2 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 2002-2 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 2002-2 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 2002-2 Trust, relating to the September 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Mortgage Pass-Through Certificates Record Date: 78/31/02 Distribution Date: 89/2625/02 BSA Series: 2002-2 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 07384YEP7 IO 5.00000% 0.00 162,500.00 0.00 A-1 07384YEM4 SEN 2.~~17000~~14000% ~~296~~286,~~163~~468,~~000~~018.0068 ~~482~~510,~~005~~867.2897 912,~~694~~216,~~981~~875.3234 A-2 07384YEN2 SEN 2.~~44000~~41000% 3837,~~969~~693,~~000~~338.0068 7175,~~313~~700.2779 1,~~275~~607,~~661~~491.3220 M-1 07384YEQ5 MEZ 2.~~64000~~61000% 18,510,000.00 3640,~~649~~259.8025 0.00 M-2 07384YER3 MEZ 3.~~34000~~31000% 16,562,000.00 4145,~~487~~683.8152 0.00 B 07384YES1 SUB 4.~~09000~~06000% 19,484,000.00 5965,~~767~~920.1787 0.00 B-IO 07384YEV4 IO 0.00000% 0.00 ~~1,751,848~~0.4400 0.00 OC BSA0202OC OC 0.00000% 315.60 0.00 0.00 R-1 07384YET9 RES 0.00000% 500.00 0.00 500.00 R-2 07384YEU6 RES 0.00000% 500.00 0.00 500.00 R-3 07384YEW2 RES 0.00000% 500.00 0.00 500.00 Totals ~~389~~378,~~688~~717,~~465~~672.6096 2900,~~605,571~~932.7740 1013,~~970~~824,~~792~~366.6454

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 162,500.00 0.00 A-1 0.00 ~~286~~274,~~468~~251,~~018~~144.6849 1012,~~176~~727,~~986~~743.6031 0.00 A-2 0.00 3736,~~693~~085,~~338~~847.6849 1,~~346~~683,~~974~~191.5999 0.00 M-1 0.00 18,510,000.00 3640,~~649~~259.8025 0.00 M-2 0.00 16,562,000.00 4145,~~487~~683.8152 0.00 B 0.00 19,484,000.00 5965,~~767~~920.1787 0.00 B-IO 0.00 0.00 ~~1,751,848~~0.4400 0.00 OC 0.00 ~~315~~1,627,441.6040 0.00 0.00 R-1 0.00 0.00 500.00 0.00 R-2 0.00 0.00 500.00 0.00 R-3 0.00 0.00 500.00 0.00 Totals 0.00 ~~378~~366,~~717~~520,~~672~~433.9638 1314,~~576~~725,~~364~~298.4194 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 A-1 296,163,000.00 ~~296~~286,~~163~~468,~~000~~018.0068 0.00 912,~~694~~216,~~981~~875.3234 0.00 0.00 A-2 38,969,000.00 3837,~~969~~693,~~000~~338.0068 0.00 1,~~275~~607,~~661~~491.3220 0.00 0.00 M-1 18,510,000.00 18,510,000.00 0.00 0.00 0.00 0.00 M-2 16,562,000.00 16,562,000.00 0.00 0.00 0.00 0.00 B 19,484,000.00 19,484,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 315.60 315.60 0.00 0.00 0.00 0.00 R-1 50.00 500.00 0.00 500.00 0.00 0.00 R-2 50.00 500.00 0.00 500.00 0.00 0.00 R-3 50.00 500.00 0.00 500.00 0.00 0.00 Totals 389,688,465.60 ~~389~~378,~~688~~717,~~465~~672.6096 0.00 1013,~~970~~824,~~792~~366.6454 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 A-1 912,~~694~~216,~~981~~875.3234 ~~286~~274,~~468~~251,~~018~~144.6849 0.~~96726471~~92601420 912,~~694~~216,~~981~~875.3234 A-2 1,~~275~~607,~~661~~491.3220 3736,~~693~~085,~~338~~847.6849 0.~~96726472~~92601420 1,~~275~~607,~~661~~491.3220 M-1 0.00 18,510,000.00 1.00000000 0.00 M-2 0.00 16,562,000.00 1.00000000 0.00 B 0.00 19,484,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 ~~315~~1,627,441.6040 15,156.~~00000000~~65842839 0.00 R-1 500.00 0.00 0.00000000 500.00 R-2 500.00 0.00 0.00000000 500.00 R-3 500.00 0.00 0.00000000 500.00 Totals 1013,~~970~~824,~~792~~366.6454 ~~378~~366,~~717~~520,~~672~~433.9638 0.~~97184727~~94054730 1013,~~970~~824,~~792~~366.6454

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 A-1 296,163,000.00 ~~1000~~967.~~00000000~~26471126 0.00000000 3241.~~73528874~~25051185 0.00000000 A-2 38,969,000.00 ~~1000~~967.~~00000000~~26471503 0.00000000 3241.~~73528497~~25051195 0.00000000 M-1 18,510,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 16,562,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 19,484,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 315.60 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-2 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 R-3 50.00 ~~1000~~0.00000000 0.00000000 ~~1000~~0.00000000 0.00000000 (2) All classes are 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 A-1 0.00000000 3241.~~73528874~~25051185 ~~967~~926.~~26471126~~01420329 0.~~96726471~~92601420 3241.~~73528874~~25051185 A-2 0.00000000 3241.~~73528497~~25051195 ~~967~~926.~~26471503~~01420334 0.~~96726472~~92601420 3241.~~73528497~~25051195 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 15,~~000~~156,658.~~00000000~~42839037 15156.~~00000000~~65842839 0.00000000 R-1 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-2 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 R-3 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~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 5.00000% 39,000,000.00 162,500.00 0.00 0.00 A-1 296,163,000.00 2.~~17000~~14000% ~~296~~286,~~163~~468,~~000~~018.0068 ~~482~~510,~~005~~867.2897 0.00 0.00 A-2 38,969,000.00 2.~~44000~~41000% 3837,~~969~~693,~~000~~338.0068 7175,~~313~~700.2779 0.00 0.00 M-1 18,510,000.00 2.~~64000~~61000% 18,510,000.00 3640,~~649~~259.8025 0.00 0.00 M-2 16,562,000.00 3.~~34000~~31000% 16,562,000.00 4145,~~487~~683.8152 0.00 0.00 B 19,484,000.00 4.~~09000~~06000% 19,484,000.00 5965,~~767~~920.1787 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 315.60 0.00000% 315.60 0.00 0.00 0.00 R-1 50.00 0.00000% 500.00 0.00 0.00 0.00 R-2 50.00 0.00000% 500.00 0.00 0.00 0.00 R-3 50.00 0.00000% 500.00 0.00 0.00 0.00 Totals 389,688,465.60 ~~853~~900,~~723~~932.3340 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 0.00 162,500.00 0.00 39,000,000.00 A-1 0.00 0.00 ~~482~~510,~~005~~867.2897 0.00 ~~286~~274,~~468~~251,~~018~~144.6849 A-2 0.00 0.00 7175,~~313~~700.2779 0.00 3736,~~693~~085,~~338~~847.6849 M-1 0.00 0.00 3640,~~649~~259.8025 0.00 18,510,000.00 M-2 0.00 0.00 4145,~~487~~683.8152 0.00 16,562,000.00 B 0.00 0.00 5965,~~767~~920.1787 0.00 19,484,000.00 B-IO 0.00 0.00 ~~1,751,848~~0.4400 0.00 0.00 OC 0.00 0.00 0.00 0.00 ~~315~~1,627,441.6040 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 2900,~~605,571~~932.7740 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 5.00000% 1000.00000000 4.16666667 0.00000000 0.00000000 A-1 296,163,000.00 2.~~17000~~14000% ~~1000~~967.~~00000000~~26471126 1.~~62749999~~72495541 0.00000000 0.00000000 A-2 38,969,000.00 2.~~44000~~41000% ~~1000~~967.~~00000000~~26471503 1.~~83000000~~94259001 0.00000000 0.00000000 M-1 18,510,000.00 2.~~64000~~61000% 1000.00000000 12.~~98000000~~17500000 0.00000000 0.00000000 M-2 16,562,000.00 3.~~34000~~31000% 1000.00000000 2.~~50500000~~75833353 0.00000000 0.00000000 B 19,484,000.00 4.~~09000~~06000% 1000.00000000 3.~~06750000~~38333350 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 315.60 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% ~~1000~~0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination

~~CERTIFICATEHOLDER~~Interest ~~ACCOUNT~~Distribution ~~STATEMENT~~Factors ~~CERTIFICATE~~Statement ~~ACCOUNT~~(continued) ~~Beginning~~Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-IO 0.0000000000 ~~Deposits~~0.00000000 ~~Payments~~4.16666667 of0.00000000 ~~Interest~~1000.00000000 ~~and~~A-1 ~~Principal~~0.00000000 ~~13,573,255~~0.1400000000 ~~Liquidations,~~1.72495541 ~~Insurance~~0.00000000 ~~Proceeds,~~926.01420329 ~~Reserve~~A-2 ~~Funds~~0.00000000 0.0000000000 ~~Proceeds~~1.94259001 ~~from~~0.00000000 ~~Repurchased~~926.01420334 ~~Loans~~M-1 0.0000000000 ~~Other~~0.00000000 ~~Amounts~~2.17500000 ~~(Servicer~~0.00000000 ~~Advances)~~1000.00000000 ~~120,668~~M-2 0.8900000000 ~~Realized~~0.00000000 ~~Losses~~2.75833353 0.0000000000 ~~Prepayment~~1000.00000000 ~~Penalties~~B 0.0000000000 ~~Total~~0.00000000 ~~Deposits~~3.38333350 ~~13,693,924~~0.0300000000 ~~Withdrawals~~1000.00000000 ~~Reimbursement~~B-IO ~~for~~0.00000000 ~~Servicer~~0.00000000 ~~Advances~~0.00000000 0.0000000000 ~~Payment~~0.00000000 ofOC ~~Service~~0.00000000 ~~Fee~~0.00000000 ~~117,559~~0.6200000000 ~~Payment~~0.00000000 of5156658.42839037 ~~Interest~~R-1 ~~and~~0.00000000 ~~Principal~~0.00000000 ~~13,576,364~~0.4100000000 ~~Total~~0.00000000 ~~Withdrawals~~0.00000000 ~~(Pool~~R-2 ~~Distribution~~0.00000000 ~~Amount~~0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) 13Amount Does Not Include Excess Special Hazard,~~693~~ Bankrupcy,~~924~~or Fraud Losses Unless Otherwise Disclosed.03 ~~Ending~~Please ~~Balance~~Refer 0to the Prospectus Supplement for a Full Description.00

~~PREPAYMENT/CURTAILMENT~~CERTIFICATEHOLDER ~~INTEREST~~ACCOUNT ~~SHORTFALL~~STATEMENT ~~Total~~CERTIFICATE ~~Prepayment/Curtailment~~ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest ~~Shortfall~~and Principal 14,~~625~~716,476.8477 ~~Servicing~~Liquidations, ~~Fee~~Insurance ~~Support~~Proceeds, 14Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 135,~~625~~567.8409 ~~Non-Supported~~Realized Losses 0.00 Prepayment~~/Curtailment~~ Penalties 0.00 Total Deposits 14,852,043.86 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 126,744.92 Payment of Interest ~~Shortfall~~and Principal 14,725,298.94 Total Withdrawals (Pool Distribution Amount) 14,852,043.86 Ending Balance 0.00

~~SERVICING~~PREPAYMENT/CURTAILMENT ~~FEES~~INTEREST ~~Gross~~SHORTFALL ~~Servicing~~Total ~~Fee~~Prepayment/Curtailment ~~128,938.06~~Interest ~~Master~~Shortfall 0.00 Servicing Fee ~~3,247~~Support 0.4000 Non-Supported Prepayment/Curtailment Interest Shortfall ~~14,625~~0.~~84 Net Servicing Fee 117,559.62~~00

~~OTHER~~SERVICING ~~ACCOUNTS~~FEES ~~Beginning~~Gross ~~Current~~Servicing ~~Current~~Fee ~~Ending~~123,588.92 ~~Account~~Master ~~Type~~Servicing ~~Balance~~Fee ~~Withdrawals Deposits Balance Reserve Fund 150~~3,156.00 ~~150.00~~Supported ~~0.00~~Prepayment/Curtailment ~~0.00~~Interest ~~Financial~~Shortfall ~~Guaranty~~ 0.00 ~~0.00~~Net ~~0.00~~Servicing ~~0.00~~Fee ~~Reserve Fund 0~~126,744.~~00 0.00 0.00 0.00~~92

~~LOAN~~OTHER ~~STATUS~~ACCOUNTS ~~STRATIFICATION/CREDIT~~Beginning ~~ENHANCEMENT~~Current ~~STATEMENT~~Current ~~DELINQUENCY~~Ending ~~STATUS~~Account ~~DELINQUENT~~Type ~~BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal~~ Balance ~~Principal~~Withdrawals ~~Balance~~Deposits ~~Principal~~ Balance ~~Principal~~Reserve ~~Balance~~Fund ~~Principal Balance~~ 0~~-29 Days 118 0 0 118 6,543,695~~.~~43 0.~~00 0.00 ~~6,543,695.43 30 Days 129 9 1~~ 0 ~~139 11,352,696~~.~~49 480,546.86 81,711.01 0.~~00 ~~11,914,954.36 60 Days 25 1~~ 0 ~~0 26 1,179,484~~.~~28 57,514.48 0.~~00 ~~0.00~~Financial ~~1,236,998.76~~Guaranty ~~90 Days 4~~ 0 ~~0 0 4 896,520~~.~~47 0.~~00 0.00 0.00 ~~896,520.47 120 Days~~ 0 ~~0 0 0 0 0~~.00 ~~0.00~~Reserve ~~0.00~~Fund 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 158 128 1 0 287 13,428,701.24 7,081,756.77 81,711.01 0.00 20,592,169.02 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 3.230222% 0.000000% 0.000000% 3.230222% 1.726926% 0.000000% 0.000000% 1.726926% 30 Days 3.531344% 0.246373% 0.027375% 0.000000% 3.805092% 2.996054% 0.126820% 0.021564% 0.000000% 3.144437% 60 Days 0.684369% 0.027375% 0.000000% 0.000000% 0.711744% 0.311274% 0.015178% 0.000000% 0.000000% 0.326452% 90 Days 0.109499% 0.000000% 0.000000% 0.000000% 0.109499% 0.236598% 0.000000% 0.000000% 0.000000% 0.236598% 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 4.325212% 3.503969% 0.027375% 0.000000% 7.856556% 3.543926% 1.868924% 0.021564% 0.000000% 5.434413%

~~OTHER~~LOAN ~~INFORMATION~~STATUS ~~Current~~STRATIFICATION/CREDIT ~~Period~~ENHANCEMENT ~~Class~~STATEMENT ADELINQUENCY ~~Insufficient~~STATUS ~~Funds~~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 ~~Principal~~0.00 ~~Balance~~0.00 of0.00 ~~Contaminated~~30 ~~Properties~~Days 142 0 0 0 142 11,016,421.08 0.00 ~~Periodic~~0.00 ~~Advance~~0.00 11,016,421.08 60 Days 41 0 0 0 41 3,662,693.83 0.00 0.00 0.00 3,662,693.83 90 Days 10 0 0 0 10 431,330.91 0.00 0.00 0.00 431,330.91 120 Days 3 0 0 0 3 413,~~668~~399.8905 0.00 0.00 0.00 413,399.05 150 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 196 0 0 0 196 15,523,844.87 0.00 0.00 0.00 15,523,844.87 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 3.972028% 0.000000% 0.000000% 0.000000% 3.972028% 3.002096% 0.000000% 0.000000% 0.000000% 3.002096% 60 Days 1.146853% 0.000000% 0.000000% 0.000000% 1.146853% 0.998124% 0.000000% 0.000000% 0.000000% 0.998124% 90 Days 0.279720% 0.000000% 0.000000% 0.000000% 0.279720% 0.117542% 0.000000% 0.000000% 0.000000% 0.117542% 120 Days 0.083916% 0.000000% 0.000000% 0.000000% 0.083916% 0.112656% 0.000000% 0.000000% 0.000000% 0.112656% 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 5.482517% 0.000000% 0.000000% 0.000000% 5.482517% 4.230419% 0.000000% 0.000000% 0.000000% 4.230419%

~~COLLATERAL~~OTHER ~~STATEMENT~~INFORMATION ~~Collateral~~Current ~~Description~~Period ~~Fixed~~Class &A ~~Mixed~~Insufficient ~~ARM~~Funds Weighted Average Gross Coupon 8.430605% Weighted Average Net Coupon 8.033556% Weighted Average Pass-Through Rate 8.023555% Weighted Average Maturity(Stepdown Calculation ) 290 Beginning Scheduled Collateral Loan Count 3,741 Number Of Loans Paid In Full 88 Ending Scheduled Collateral Loan Count 3,653 Beginning Scheduled Collateral Balance 389,688,465.60 Ending Scheduled Collateral Balance 378,717,672.96 Ending Actual Collateral Balance at 31-Jul-2002 378,921,652.49 Monthly P &I Constant 3,389,161.70 Special Servicing Fee 0.00 ~~Prepayment~~Principal ~~Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled~~ Balance ~~for~~of ~~Premium~~Contaminated ~~Loans~~Properties ~~378,717,672.96 Scheduled Principal 651,404.75 Unscheduled Principal 10,319,236.73 Required Overcollateralization Amount 1,948,441.58 Overcollateralized Increase Amount~~ 0.00 ~~Overcollateralized~~Periodic ~~reduction~~Advance ~~Amount 0.00 Specified O/C Amount 1~~135,~~948,441~~567.~~58 Overcollateralized Amount 315.60 Overcollateralized Deficiency Amount 1,948,125.98 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 1,751,848.44~~09

~~Stated~~COLLATERAL ~~Principal~~STATEMENT ~~Balances~~Collateral ofDescription ~~the~~ Fixed & Mixed ARM Weighted Average Gross Coupon 8.411979% Weighted Average Net Coupon 8.020377% Weighted Average Pass-Through Rate ~~Mortgage~~8.010377% Weighted Average Maturity(Stepdown Calculation ) 289 Beginning Scheduled Collateral Loan Count 3,653 Number Of Loans ~~268~~Paid In Full 78 Ending Scheduled Collateral Loan Count 3,~~349~~575 Beginning Scheduled Collateral Balance 378,~~277~~717,672.6596 ~~Stated~~Ending ~~Principal~~Scheduled Collateral Balance of366,520,433.38 ~~the~~Ending ~~Adjustable~~Actual ~~Rate~~Collateral ~~Mortgage~~Balance at 31-Aug-2002 366,957,651.19 Monthly P &I Constant 3,278,459.78 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 ~~110~~366,~~368~~520,~~395~~433.3138 Scheduled Principal 621,781.66 Unscheduled Principal 11,575,457.92 Required Overcollateralization Amount 1,948,441.58 Overcollateralized Increase Amount 1,627,126.96 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,948,441.58 Overcollateralized Amount 1,627,441.40 Overcollateralized Deficiency Amount 321,000.18 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 1,627,126.96 Excess Cash Amount 1,627,126.96

Filing Compare · BEAR STEARNS ASSET BACKED CERT SERS 2002-2