8-K 1 mrf02bc1.txt OCTOBER 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): October 15, 2002 MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2002-BC1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-67192-02 Pooling and Servicing Agreement) (Commission 22-3844519 (State or other File Number) 22-3844520 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On October 15, 2002 a distribution was made to holders of MELLON RESIDENTIAL FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 2002-BC1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC1 Trust, relating to the October 15, 2002 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MELLON RESIDENTIAL FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2002-BC1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/24/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC1 Trust, relating to the October 15, 2002 distribution. EX-99.1

Mellon Residential Funding Corporation Mortgage Pass-Through Certificates Record Date: 89/3130/02 Distribution Date: 910/1615/02 MRF Series: 2002-BC1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A 585525FN3 SEN 2.~~15000~~19313% ~~131~~125,~~273~~735,~~648~~956.6058 ~~235~~229,~~198~~796.6208 56,~~537~~976,~~692~~009.0205 A-R 585525FQ6 SEN 5.~~57957~~57960% 0.00 0.00 0.00 X 585525FP8 SEN 3.~~34350~~29761% 0.00 ~~381~~361,~~535~~082.5725 0.00 B-1 585525FR4 SUB 2.~~78000~~82313% 1,617,000.00 3,~~746~~804.0517 0.00 B-2 585525FS2 SUB 3.~~18000~~22313% 808,000.00 2,~~141~~170.2024 0.00 B-3 585525FT0 SUB 3.~~78000~~82313% 647,000.00 2,~~038~~061.0530 0.00 B-4 585525FU7 SUB 5.~~57957~~57960% 1,295,000.00 6,021.2932 0.00 B-5 585525FV5 SUB 5.~~57957~~57960% 647,000.00 3,008.3233 0.00 B-6 585525FW3 SUB 5.~~57957~~57960% 647,716.59 3,011.6567 0.00 R MELLON02R SUB 0.00000% 0.00 0.00 0.00 Totals ~~136~~131,~~935~~397,~~365~~673.1917 ~~636~~610,~~700~~955.7536 56,~~537~~976,~~692~~009.0205

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~125~~118,~~735~~759,~~956~~947.5853 57,~~772~~205,~~890~~805.6413 0.00 A-R 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~381~~361,~~535~~082.5725 0.00 B-1 0.00 1,617,000.00 3,~~746~~804.0517 0.00 B-2 0.00 808,000.00 2,~~141~~170.2024 0.00 B-3 0.00 647,000.00 2,~~038~~061.0530 0.00 B-4 0.00 1,295,000.00 6,021.2932 0.00 B-5 0.00 647,000.00 3,008.3233 0.00 B-6 0.00 647,716.59 3,011.6567 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~131~~124,~~397~~421,~~673~~664.1712 67,~~174~~586,~~392~~964.7741 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A 156,109,000.00 ~~131~~125,~~273~~735,~~648~~956.6058 117,~~463~~310.7001 56,~~420~~858,~~228~~699.3204 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 1,617,000.00 1,617,000.00 0.00 0.00 0.00 0.00 B-2 808,000.00 808,000.00 0.00 0.00 0.00 0.00 B-3 647,000.00 647,000.00 0.00 0.00 0.00 0.00 B-4 1,295,000.00 1,295,000.00 0.00 0.00 0.00 0.00 B-5 647,000.00 647,000.00 0.00 0.00 0.00 0.00 B-6 647,716.63 647,716.59 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 161,770,816.63 ~~136~~131,~~935~~397,~~365~~673.1917 117,~~463~~310.7001 56,~~420~~858,~~228~~699.3204 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 56,~~537~~976,~~692~~009.0205 ~~125~~118,~~735~~759,~~956~~947.5853 0.~~80543695~~76075017 56,~~537~~976,~~692~~009.0205 A-R 0.00 0.00 0.00000000 0.00 X 0.00 0.00 0.00000000 0.00 B-1 0.00 1,617,000.00 1.00000000 0.00 B-2 0.00 808,000.00 1.00000000 0.00 B-3 0.00 647,000.00 1.00000000 0.00 B-4 0.00 1,295,000.00 1.00000000 0.00 B-5 0.00 647,000.00 1.00000000 0.00 B-6 0.00 647,716.59 0.99999994 0.00 R 0.00 0.00 0.00000000 0.00 Totals 56,~~537~~976,~~692~~009.0205 ~~131~~124,~~397~~421,~~673~~664.1712 0.~~81224584~~76912305 56,~~537~~976,~~692~~009.0205

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 156,109,000.00 ~~840~~805.~~91018839~~43694841 0.~~75244669~~75146218 3443.~~72079329~~93532109 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 1,617,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 808,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 647,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-4 1,295,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-5 647,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-6 647,716.63 999.99993824 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) Per $1000 Denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 3544.~~47323998~~68678327 ~~805~~760.~~43694841~~75016514 0.~~80543695~~76075017 3544.~~47323998~~68678327 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-6 0.00000000 0.00000000 999.99993824 0.99999994 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A 156,109,000.00 2.~~15000~~19313% ~~131~~125,~~273~~735,~~648~~956.6058 ~~235~~229,~~198~~796.6208 0.00 0.00 A-R 100.00 5.~~57957~~57960% 0.00 0.00 0.00 0.00 X 0.00 3.~~34350~~29761% ~~136~~131,~~935~~397,~~365~~673.1917 ~~381~~361,~~535~~082.5725 0.00 0.00 B-1 1,617,000.00 2.~~78000~~82313% 1,617,000.00 3,~~746~~804.0517 0.00 0.00 B-2 808,000.00 3.~~18000~~22313% 808,000.00 2,~~141~~170.2024 0.00 0.00 B-3 647,000.00 3.~~78000~~82313% 647,000.00 2,~~038~~061.0530 0.00 0.00 B-4 1,295,000.00 5.~~57957~~57960% 1,295,000.00 6,021.2932 0.00 0.00 B-5 647,000.00 5.~~57957~~57960% 647,000.00 3,008.3233 0.00 0.00 B-6 647,716.63 5.~~57957~~57960% 647,716.59 3,011.6567 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 161,770,816.63 ~~636~~610,~~700~~955.7536 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A 0.00 0.00 ~~235~~229,~~198~~796.6208 0.00 ~~125~~118,~~735~~759,~~956~~947.5853 A-R 0.00 0.00 0.00 0.00 0.00 X 0.00 0.00 ~~381~~361,~~535~~082.5725 0.00 ~~131~~124,~~397~~421,~~673~~664.1712 B-1 0.00 0.00 3,~~746~~804.0517 0.00 1,617,000.00 B-2 0.00 0.00 2,~~141~~170.2024 0.00 808,000.00 B-3 0.00 0.00 2,~~038~~061.0530 0.00 647,000.00 B-4 0.00 0.00 6,021.2932 0.00 1,295,000.00 B-5 0.00 0.00 3,008.3233 0.00 647,000.00 B-6 0.00 0.00 3,011.6567 0.00 647,716.59 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 ~~636~~610,~~700~~955.7536 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A 156,109,000.00 2.~~15000~~19313% ~~840~~805.~~91018839~~43694841 1.~~50663075~~47202327 0.00000000 0.00000000 A-R 100.00 5.~~57957~~57960% 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 3.~~34350~~29761% ~~846~~812.~~47755413~~24584203 2.~~35849443~~23206050 0.00000000 0.00000000 B-1 1,617,000.00 2.~~78000~~82313% 1000.00000000 2.~~31666667~~35260977 0.00000000 0.00000000 B-2 808,000.00 3.~~18000~~22313% 1000.00000000 2.~~65000000~~68594059 0.00000000 0.00000000 B-3 647,000.00 3.~~78000~~82313% 1000.00000000 3.~~15000000~~18593509 0.00000000 0.00000000 B-4 1,295,000.00 5.~~57957~~57960% 1000.00000000 4.~~64964479~~64966795 0.00000000 0.00000000 B-5 647,000.00 5.~~57957~~57960% 1000.00000000 4.~~64964451~~64965997 0.00000000 0.00000000 B-6 647,716.63 5.~~57957~~57960% 999.99993824 4.~~64964131~~64967219 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1000 Denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A 0.00000000 0.00000000 1.~~50663075~~47202327 0.00000000 ~~805~~760.~~43694841~~75016514 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 2.~~35849443~~23206050 0.00000000 ~~812~~769.~~24584203~~12305144 B-1 0.00000000 0.00000000 2.~~31666667~~35260977 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.~~65000000~~68594059 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.~~15000000~~18593509 0.00000000 1000.00000000 B-4 0.00000000 0.00000000 4.~~64964479~~64966795 0.00000000 1000.00000000 B-5 0.00000000 0.00000000 4.~~64964451~~64965997 0.00000000 1000.00000000 B-6 0.00000000 0.00000000 4.~~64964131~~64967219 0.00000000 999.99993824 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 67,~~203~~616,~~892~~528.8388 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~1,310~~0.3900 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 67,~~205~~616,~~203~~528.2288 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 3029,~~810~~564.4547 Payment of Interest and Principal 67,~~174~~586,~~392~~964.7741 Total Withdrawals (Pool Distribution Amount) 67,~~205~~616,~~203~~528.2288 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 2827,~~528~~374.2051 Trustee Fee 2,~~282~~189.2596 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 3029,~~810~~564.4547

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 ~~111,048~~0.00 0.00 0.00 0.00 ~~111,048~~0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 10 0 0 0 10 ~~111,048~~0.00 0.00 0.00 0.00 ~~111,048~~0.00 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 0.~~483092~~000000% 0.000000% 0.000000% 0.000000% 0.~~483092~~000000% 0.~~084513~~000000% 0.000000% 0.000000% 0.000000% 0.~~084513~~000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~483092~~000000% 0.000000% 0.000000% 0.000000% 0.~~483092~~000000% 0.~~084513~~000000% 0.000000% 0.000000% 0.000000% 0.~~084513~~000000%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~1,310~~0.3900

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.06181585% 100,000.00 0.~~07610485~~08037186% Fraud 3,235,416.00 1.99999979% 3,235,416.00 2.~~46230844~~60036387% Special Hazard 5,661,716.00 3.49983768% 5,661,716.00 4.~~30884038~~55042620% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 5.~~849573~~849599% Weighted Average Net Coupon 5.~~599573~~599599% Weighted Average Pass-Through Rate 5.~~579573~~579599% Weighted Average Maturity(Stepdown Calculation ) ~~266~~265 Beginning Scheduled Collateral Loan Count ~~216~~207 Number Of Loans Paid In Full 98 Ending Scheduled Collateral Loan Count ~~207~~199 Beginning Scheduled Collateral Balance ~~136~~131,~~935~~397,~~365~~673.1917 Ending Scheduled Collateral Balance ~~131~~124,~~397~~421,~~673~~664.1712 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2002 ~~131~~124,~~397~~421,~~673~~664.1712 Monthly P &I Constant ~~784~~757,~~974~~829.9185 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 ~~131~~124,~~397~~421,~~673~~664.1712 Scheduled Principal 117,~~463~~310.7001 Unscheduled Principal 56,~~420~~858,~~228~~699.3204

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