8-K 1 bsa01ac2.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 25, 2002 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset-Backed Certificates, Series 2001-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-43091-11 Pooling and Servicing Agreement) (Commission 52-2316429 (State or other File Number) 52-2316431 jurisdiction 52-2316430 of Incorporation) 52-2316434 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 October 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2001-AC2 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-AC2 Trust, relating to the October 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-AC2 Trust By: Wells Fargo Bank Minnesota, NA, Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/26/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2001-AC2 Trust, relating to the October 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Asset~~Mortgage Pass-~~Backed~~Through Certificates Record Date: 89/3130/02 Distribution Date: 910/25/02 BSA Series: 2001-AC2 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 07384YBC9 IO 8.00000% 0.00 134,800.00 0.00 I-A1 07384YAX4 SEN 2.~~06000~~06375% 2822,~~428~~515,~~096~~978.8035 4838,~~801~~722.5779 57,~~912~~582,~~118~~666.4530 I-A2 07384YAY2 SEN 4.91000% 62,927,000.00 257,476.3031 0.00 I-A3 07384YAZ9 SEN 5.72000% 13,090,000.00 62,395.67 0.00 I-A4 07384YBA3 SEN 6.16000% 21,231,000.00 108,985.80 0.00 I-A5 07384YBB1 SEN 6.38000% 25,685,000.00 136,558.58 0.00 II-F 07384YBD7 SEN 2.~~41000~~41375% ~~138~~123,~~752~~571,~~934~~510.7910 ~~278~~248,~~662~~558.1494 1518,~~181~~637,~~424~~532.6965 II-INV 07384YBE5 SEN 5.~~59000~~58625% 0.00 ~~646~~575,~~357~~251.4212 0.00 II-A-2 07384YBF2 SEN 5.82000% 37,290,000.00 180,856.50 0.00 II-A-3 07384YBG0 SEN 6.45000% 26,381,000.00 141,797.8788 0.00 M-1 07384YBH8 SUB 6.05000% 11,890,000.00 59,945.42 0.00 M-2 07384YBJ4 SUB 6.30000% 10,569,000.00 55,487.25 0.00 B 07384YBK1 SUB 6.75000% 7,927,000.00 44,589.3738 0.00 B-IO BSAAC2BIO IO 0.00000% 1,849,617.39 ~~523~~397,~~533~~374.4846 0.00 P BSA01AC2P SUB 0.00000% 100.00 187,~~018~~867.2790 0.00 R-1 BSA1AC2R1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA1AC2R2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA1AC2R3 RES 0.00000% 0.00 0.00 0.00 R-4 BSA1AC2R4 RES 0.00000% 0.00 0.00 0.00 Totals ~~386~~364,~~020~~927,~~748~~205.9884 2,~~698~~450,~~265~~668.6400 2126,~~093~~220,~~543~~198.1495

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 134,800.00 0.00 I-A1 0.00 2214,~~515~~933,~~978~~312.3505 57,~~960~~621,~~920~~389.0209 0.00 I-A2 0.00 62,927,000.00 257,476.3031 0.00 I-A3 0.00 13,090,000.00 62,395.67 0.00 I-A4 0.00 21,231,000.00 108,985.80 0.00 I-A5 0.00 25,685,000.00 136,558.58 0.00 II-F 0.00 ~~123~~104,~~571~~933,~~510~~977.1045 1518,~~460~~886,~~086~~091.8359 0.00 II-INV 0.00 0.00 ~~646~~575,~~357~~251.4212 0.00 II-A-2 0.00 37,290,000.00 180,856.50 0.00 II-A-3 0.00 26,381,000.00 141,797.8788 0.00 M-1 0.00 11,890,000.00 59,945.42 0.00 M-2 0.00 10,569,000.00 55,487.25 0.00 B 0.00 7,927,000.00 44,589.3738 0.00 B-IO 0.00 1,849,617.39 ~~523~~397,~~533~~374.4846 0.00 P 0.00 100.00 187,~~018~~867.2790 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 R-4 0.00 0.00 0.00 0.00 Totals 0.00 ~~364~~338,~~927~~707,~~205~~006.8489 2328,~~791~~670,~~808~~866.7895 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 67,637,000.00 2822,~~428~~515,~~096~~978.8035 0.00 57,~~912~~582,~~118~~666.4530 0.00 0.00 I-A2 62,927,000.00 62,927,000.00 0.00 0.00 0.00 0.00 I-A3 13,090,000.00 13,090,000.00 0.00 0.00 0.00 0.00 I-A4 21,231,000.00 21,231,000.00 0.00 0.00 0.00 0.00 I-A5 25,685,000.00 25,685,000.00 0.00 0.00 0.00 0.00 II-F 243,835,000.00 ~~138~~123,~~752~~571,~~934~~510.7910 0.00 1518,~~181~~637,~~424~~532.6965 0.00 0.00 II-INV 0.00 0.00 0.00 0.00 0.00 0.00 II-A-2 37,290,000.00 37,290,000.00 0.00 0.00 0.00 0.00 II-A-3 26,381,000.00 26,381,000.00 0.00 0.00 0.00 0.00 M-1 11,890,000.00 11,890,000.00 0.00 0.00 0.00 0.00 M-2 10,569,000.00 10,569,000.00 0.00 0.00 0.00 0.00 B 7,927,000.00 7,927,000.00 0.00 0.00 0.00 0.00 B-IO 11.00 1,849,617.39 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 R-4 0.00 0.00 0.00 0.00 0.00 0.00 Totals 528,462,111.00 ~~386~~364,~~020~~927,~~748~~205.9884 0.00 2126,~~093~~220,~~543~~198.1495 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 57,~~912~~582,~~118~~666.4530 2214,~~515~~933,~~978~~312.3505 0.~~33289440~~22078614 57,~~912~~582,~~118~~666.4530 I-A2 0.00 62,927,000.00 1.00000000 0.00 I-A3 0.00 13,090,000.00 1.00000000 0.00 I-A4 0.00 21,231,000.00 1.00000000 0.00 I-A5 0.00 25,685,000.00 1.00000000 0.00 II-F 1518,~~181~~637,~~424~~532.6965 ~~123~~104,~~571~~933,~~510~~977.1045 0.~~50678332~~43034830 1518,~~181~~637,~~424~~532.6965 II-INV 0.00 0.00 0.00000000 0.00 II-A-2 0.00 37,290,000.00 1.00000000 0.00 II-A-3 0.00 26,381,000.00 1.00000000 0.00 M-1 0.00 11,890,000.00 1.00000000 0.00 M-2 0.00 10,569,000.00 1.00000000 0.00 B 0.00 7,927,000.00 1.00000000 0.00 B-IO 0.00 1,849,617.39 168,147.03545455 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 R-4 0.00 0.00 0.00000000 0.00 Totals 2126,~~093~~220,~~543~~198.1495 ~~364~~338,~~927~~707,~~205~~006.8489 0.~~69054564~~64092960 2126,~~093~~220,~~543~~198.1495

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 67,637,000.00 ~~420~~332.~~30392832~~89439730 0.00000000 87112.~~40953103~~10825879 0.00000000 I-A2 62,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A3 13,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A4 21,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A5 25,685,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-F 243,835,000.00 ~~569~~506.~~04437341~~78331700 0.00000000 6276.~~26105641~~43501815 0.00000000 II-INV 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 37,290,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-3 26,381,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 11,890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,569,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 7,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 11.00 168147035.45454544 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 R-4 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 87112.~~40953103~~10825879 ~~332~~220.~~89439730~~78613850 0.~~33289440~~22078614 87112.~~40953103~~10825879 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-F 0.00000000 6276.~~26105641~~43501815 ~~506~~430.~~78331700~~34829885 0.~~50678332~~43034830 6276.~~26105641~~43501815 II-INV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 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 168,147,035.4545454 168147.03545455 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 R-4 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% 20,220,000.00 134,800.00 0.00 0.00 I-A1 67,637,000.00 2.~~06000~~06375% 2822,~~428~~515,~~096~~978.8035 4838,~~801~~722.5779 0.00 0.00 I-A2 62,927,000.00 4.91000% 62,927,000.00 257,476.31 0.00 0.00 I-A3 13,090,000.00 5.72000% 13,090,000.00 62,395.67 0.00 0.00 I-A4 21,231,000.00 6.16000% 21,231,000.00 108,985.80 0.00 0.00 I-A5 25,685,000.00 6.38000% 25,685,000.00 136,558.58 0.00 0.00 II-F 243,835,000.00 2.~~41000~~41375% ~~138~~123,~~752~~571,~~934~~510.7910 ~~278~~248,~~662~~558.1494 0.00 0.00 II-INV 0.00 5.~~59000~~58625% ~~138~~123,~~752~~571,~~934~~510.7910 ~~646~~575,~~357~~251.4212 0.00 0.00 II-A-2 37,290,000.00 5.82000% 37,290,000.00 180,856.50 0.00 0.00 II-A-3 26,381,000.00 6.45000% 26,381,000.00 141,797.88 0.00 0.00 M-1 11,890,000.00 6.05000% 11,890,000.00 59,945.42 0.00 0.00 M-2 10,569,000.00 6.30000% 10,569,000.00 55,487.25 0.00 0.00 B 7,927,000.00 6.75000% 7,927,000.00 44,589.38 0.00 0.00 B-IO 11.00 0.00000% 1,849,617.39 0.00 0.00 0.00 P 100.00 0.00000% 100.00 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 R-4 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 528,462,111.00 2,~~156~~045,~~713~~425.9264 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 0.00 134,800.00 0.00 20,220,000.00 I-A1 0.00 0.00 4838,~~801~~722.5779 0.00 2214,~~515~~933,~~978~~312.3505 I-A2 0.00 0.00 257,476.3031 0.00 62,927,000.00 I-A3 0.00 0.00 62,395.67 0.00 13,090,000.00 I-A4 0.00 0.00 108,985.80 0.00 21,231,000.00 I-A5 0.00 0.00 136,558.58 0.00 25,685,000.00 II-F 0.00 0.00 ~~278~~248,~~662~~558.1494 0.00 ~~123~~104,~~571~~933,~~510~~977.1045 II-INV 0.00 0.00 ~~646~~575,~~357~~251.4212 0.00 ~~123~~104,~~571~~933,~~510~~977.1045 II-A-2 0.00 0.00 180,856.50 0.00 37,290,000.00 II-A-3 0.00 0.00 141,797.8788 0.00 26,381,000.00 M-1 0.00 0.00 59,945.42 0.00 11,890,000.00 M-2 0.00 0.00 55,487.25 0.00 10,569,000.00 B 0.00 0.00 44,589.3738 0.00 7,927,000.00 B-IO 0.00 0.00 ~~523~~397,~~533~~374.4846 0.00 1,849,617.39 P 0.00 0.00 187,~~018~~867.2790 0.00 100.00 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 R-4 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~698~~450,~~265~~668.6400 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 6.66666667 0.00000000 0.00000000 I-A1 67,637,000.00 2.~~06000~~06375% ~~420~~332.~~30392832~~89439730 0.~~72152180~~57250898 0.00000000 0.00000000 I-A2 62,927,000.00 4.91000% 1000.00000000 4.09166669 0.00000000 0.00000000 I-A3 13,090,000.00 5.72000% 1000.00000000 4.76666692 0.00000000 0.00000000 I-A4 21,231,000.00 6.16000% 1000.00000000 5.13333333 0.00000000 0.00000000 I-A5 25,685,000.00 6.38000% 1000.00000000 5.31666654 0.00000000 0.00000000 II-F 243,835,000.00 2.~~41000~~41375% ~~569~~506.~~04437341~~78331700 1.~~14283077~~01937351 0.00000000 0.00000000 II-INV 0.00 5.~~59000~~58625% ~~569~~506.~~04437341~~78331700 2.~~65079837~~35918191 0.00000000 0.00000000 II-A-2 37,290,000.00 5.82000% 1000.00000000 4.85000000 0.00000000 0.00000000 II-A-3 26,381,000.00 6.45000% 1000.00000000 5.37500019 0.00000000 0.00000000 M-1 11,890,000.00 6.05000% 1000.00000000 5.04166695 0.00000000 0.00000000 M-2 10,569,000.00 6.30000% 1000.00000000 5.25000000 0.00000000 0.00000000 B 7,927,000.00 6.75000% 1000.00000000 5.62500063 0.00000000 0.00000000 B-IO 11.00 0.00000% 168147035.45454544 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 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 R-4 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 6.66666667 0.00000000 1000.00000000 I-A1 0.00000000 0.00000000 0.~~72152180~~57250898 0.00000000 ~~332~~220.~~89439730~~78613850 I-A2 0.00000000 0.00000000 4.~~09166653~~09166669 0.00000000 1000.00000000 I-A3 0.00000000 0.00000000 4.76666692 0.00000000 1000.00000000 I-A4 0.00000000 0.00000000 5.13333333 0.00000000 1000.00000000 I-A5 0.00000000 0.00000000 5.31666654 0.00000000 1000.00000000 II-F 0.00000000 0.00000000 1.~~14283077~~01937351 0.00000000 ~~506~~430.~~78331700~~34829885 II-INV 0.00000000 0.00000000 2.~~65079837~~35918191 0.00000000 ~~506~~430.~~78331700~~34829885 II-A-2 0.00000000 0.00000000 4.85000000 0.00000000 1000.00000000 II-A-3 0.00000000 0.00000000 5.~~37499981~~37500019 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 5.04166695 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 5.25000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.~~62499937~~62500063 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~47593952~~36124950.~~72727273~~90909091 0.00000000 168147035.45454544 P 0.00000000 0.00000000 ~~180182~~78679.~~70000000~~00000000 0.00000000 1000.00000000 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 R-4 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 2328,~~728~~666,~~082~~849.1552 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~169~~163,~~262~~434.7964 Realized Losses 16(44,~~377~~947.7209) Prepayment Penalties 0.00 Total Deposits 2328,~~913~~785,~~722~~337.6607 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~121~~114,~~913~~470.8812 Payment of Interest and Principal 2328,~~791~~670,~~808~~866.7895 Total Withdrawals (Pool Distribution Amount) 2328,~~913~~785,~~722~~337.6607 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~118~~111,~~697~~429.0308 Trustee Fee 3,~~216~~041.8504 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~121~~114,~~913~~470.8812

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 12 0 0 12 ~~317~~441,~~203~~479.3862 0.00 0.00 ~~317~~441,~~203~~479.3862 30 Days 4126 0 0 0 4126 85,~~258~~910,~~675~~194.9763 0.00 0.00 0.00 85,~~258~~910,~~675~~194.9763 60 Days 2017 0 1 0 2118 32,~~514~~952,~~877~~188.3143 0.00 200,~~644~~541.0612 0.00 3,~~715~~152,~~521~~729.3755 90 Days 510 0 53 01 1014 1,~~143~~670,~~762~~149.5432 0.00 ~~791~~685,~~109~~013.1137 0163,579.0026 12,~~934~~518,~~871~~741.6595 120 Days 29 1 32 0 612 ~~506~~1,~~616~~790,768.0309 ~~125~~134,~~978~~732.9831 ~~651~~238,~~577~~587.9283 0.00 12,~~284~~164,~~172~~088.9323 150 Days 02 0 51 0 53 0545,767.0074 0.00 1221,~~003,527~~452.9476 0.00 1767,~~003,527~~220.9450 180+ Days 23 21 1922 12 2428 ~~437~~704,~~401~~616.4058 ~~455~~298,~~322~~780.3798 4,~~270~~772,~~095~~926.2074 ~~398~~542,~~798~~001.5134 56,~~561~~318,~~617~~325.4864 Totals 7067 4 3329 13 ~~108~~103 13,~~861~~573,~~333~~684.2579 ~~898~~874,~~504~~992.7391 6,~~916~~118,~~954~~521.2382 ~~398~~705,~~798~~580.5160 2221,~~075~~272,~~590~~780.7212 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.~~060864~~128617% 0.000000% 0.000000% 0.~~060864~~128617% 0.~~086864~~130255% 0.000000% 0.000000% 0.~~086864~~130255% 30 Days 21.~~495435~~672026% 0.000000% 0.000000% 0.000000% 21.~~495435~~672026% 21.~~261593~~743749% 0.000000% 0.000000% 0.000000% 21.~~261593~~743749% 60 Days 1.~~217285~~093248% 0.000000% 0.~~060864~~064309% 0.000000% 1.~~278150~~157556% 0.~~962530~~871016% 0.000000% 0.~~054945~~059168% 0.000000% 10.~~017475~~930184% 90 Days 0.~~304321~~643087% 0.000000% 0.~~304321~~192926% 0.~~000000~~064309% 0.~~608643~~900322% 0.~~313213~~492762% 0.000000% 0.~~216641~~202107% 0.~~000000~~048263% 0.~~529854~~743132% 120 Days 0.~~121729~~578778% 0.~~060864~~064309% 0.~~182593~~128617% 0.000000% 0.~~365186~~771704% 0.~~138734~~528350% 0.~~034499~~039752% 0.~~178431~~070393% 0.000000% 0.~~351664~~638495% 150 Days 0.~~000000~~128617% 0.000000% 0.~~304321~~064309% 0.000000% 0.~~304321~~192926% 0.~~000000~~161024% 0.000000% 0.~~274811~~065338% 0.000000% 0.~~274811~~226361% 180+ Days 0.~~121729~~192926% 0.~~121729~~064309% 1.~~156421~~414791% 0.~~060864~~128617% 1.~~460743~~800643% 0.~~119780~~207891% 0.~~124688~~088153% 1.~~169342~~408209% 0.~~109209~~159913% 1.~~523018~~864164% Totals 4.~~260499~~308682% 0.~~243457~~257235% 21.~~008521~~864952% 0.~~060864~~192926% 6.~~573341~~623794% 34.~~795850~~004792% 0.~~246051~~258159% 1.~~894170~~805214% 0.~~109209~~208175% 6.~~045279~~276340% Delinquencies are stratified according to the ~~informaiton~~information provided by the ~~servicer~~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 01 0 0 01 0124,276.0024 0.00 0.00 0124,276.0024 30 Days 2918 0 0 0 2918 32,~~572~~605,~~661~~412.9495 0.00 0.00 0.00 32,~~572~~605,~~661~~412.9495 60 Days 1714 0 1 0 1815 21,~~508~~811,~~786~~863.4568 0.00 200,~~644~~541.0612 0.00 2,~~709~~012,~~430~~404.5180 90 Days 49 0 42 01 812 ~~809~~1,~~975~~356,299.7644 0.00 ~~495~~295,~~279~~966.8364 0163,579.0026 1,~~305~~815,~~255~~845.5934 120 Days 17 1 32 0 510 ~~132~~1,~~826~~122,327.6625 ~~125~~134,~~978~~732.9831 ~~651~~238,~~577~~587.9283 0.00 ~~910~~1,~~383~~495,647.5639 150 Days 02 0 31 0 3 0545,767.0074 0.00 ~~320~~221,~~017~~452.9676 0.00 ~~320~~767,~~017~~220.9650 180 Days 2 10 1315 01 1618 ~~437~~373,~~401~~167.4034 ~~156,541~~0.3900 1,~~763~~915,~~721~~076.5639 0143,202.0083 2,~~357~~431,~~664~~446.3556 Totals 5352 2 2421 02 7977 7,~~461~~814,~~652~~838.2140 ~~282~~259,~~520~~008.3755 32,~~431~~871,~~241~~624.3374 0306,782.0009 11,~~175~~252,~~413~~253.9178 0-29 Days 0.~~000000~~093809% 0.000000% 0.000000% 0.~~000000~~093809% 0.~~000000~~082812% 0.000000% 0.000000% 0.~~000000~~082812% 30 Days 21.~~612613~~688555% 0.000000% 0.000000% 0.000000% 21.~~612613~~688555% 21.~~266071~~736135% 0.000000% 0.000000% 0.000000% 21.~~266071~~736135% 60 Days 1.~~531532~~313321% 0.000000% 0.~~090090~~093809% 0.000000% 1.~~621622~~407129% 1.~~591275~~207348% 0.000000% 0.~~127265~~133632% 0.000000% 1.~~718540~~340980% 90 Days 0.~~360360~~844278% 0.000000% 0.~~360360~~187617% 0.~~000000~~093809% 01.~~720721~~125704% 0.~~513752~~903780% 0.000000% 0.~~314147~~197219% 0.~~000000~~109002% 01.~~827899~~210001% 120 Days 0.~~090090~~656660% 0.~~090090~~093809% 0.~~270270~~187617% 0.000000% 0.~~450450~~938086% 0.~~084249~~747871% 0.~~079906~~089780% 0.~~413283~~158985% 0.000000% 0.~~577439~~996635% 150 Days 0.~~000000~~187617% 0.000000% 0.~~270270~~093809% 0.000000% 0.~~270270~~281426% 0.~~000000~~363676% 0.000000% 0.~~202981~~147567% 0.000000% 0.~~202981~~511243% 180 Days 0.~~180180~~187617% 0.~~090090~~000000% 1.~~171171~~407129% 0.~~000000~~093809% 1.~~441441~~688555% 0.~~277435~~248663% 0.~~099291~~000000% 1.~~118695~~276125% 0.~~000000~~095424% 1.~~495421~~620211% Totals 4.~~774775~~878049% 0.~~180180~~187617% 21.~~162162~~969981% 0.~~000000~~187617% 7.~~117117~~223265% 45.~~732783~~207472% 0.~~179197~~172592% 21.~~176371~~913527% 0.~~000000~~204426% 7.~~088351~~498018% 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 1 0 0 1 317,203.38 0.00 0.00 317,203.38 30 Days 128 0 0 0 128 43,~~686~~304,~~014~~781.0368 0.00 0.00 0.00 43,~~686~~304,~~014~~781.0368 60 Days 3 0 0 0 3 1,~~006~~140,~~090~~324.8675 0.00 0.00 0.00 1,~~006~~140,~~090~~324.8675 90 Days 1 0 1 0 2 ~~333~~313,~~786~~849.7888 0.00 ~~295~~389,~~829~~046.2873 0.00 ~~629~~702,~~616~~896.0661 120 Days 12 0 0 0 12 ~~373~~668,~~789~~440.3784 0.00 0.00 0.00 ~~373~~668,~~789~~440.3784 150 Days 0 0 20 0 20 0.00 0.00 ~~683,509~~0.9800 0.00 ~~683,509~~0.9800 180 Days 01 1 67 1 810 0331,449.0024 298,780.98 2,~~506~~857,~~373~~850.6435 398,798.51 3,~~203~~886,~~953~~879.1308 Totals 1715 2 98 1 2926 65,~~399~~758,~~681~~846.0439 615,984.36 3,~~485~~246,~~712~~897.9008 398,798.51 10,~~900~~020,~~176~~526.8134 0-29 Days 0.~~187617~~204499% 0.000000% 0.000000% 0.~~187617~~204499% 0.~~152860~~167951% 0.000000% 0.000000% 0.~~152860~~167951% 30 Days 21.~~251407~~635992% 0.000000% 0.000000% 0.000000% 21.~~251407~~635992% 21.~~258191~~749799% 0.000000% 0.000000% 0.000000% 21.~~258191~~749799% 60 Days 0.~~562852~~613497% 0.000000% 0.000000% 0.000000% 0.~~562852~~613497% 0.~~484835~~603773% 0.000000% 0.000000% 0.000000% 0.~~484835~~603773% 90 Days 0.~~187617~~204499% 0.000000% 0.~~187617~~204499% 0.000000% 0.~~375235~~408998% 0.~~160852~~166176% 0.000000% 0.~~142560~~205990% 0.000000% 0.~~303412~~372166% 120 Days 0.~~187617~~408998% 0.000000% 0.000000% 0.000000% 0.~~187617~~408998% 0.~~180129~~353923% 0.000000% 0.000000% 0.000000% 0.~~180129~~353923% 150 Days 0.000000% 0.000000% 0.~~375235~~000000% 0.000000% 0.~~375235~~000000% 0.000000% 0.000000% 0.~~329384~~000000% 0.000000% 0.~~329384~~000000% 180 Days 0.~~000000~~204499% 0.~~187617~~204499% 1.~~125704~~431493% 0.~~187617~~204499% 12.~~500938~~044990% 0.~~000000~~175494% 0.~~143983~~158197% 1.~~207822~~513160% 0.~~192181~~211154% 12.~~543985~~058005% Totals 3.~~189493~~067485% 0.~~375235~~408998% 1.~~688555~~635992% 0.~~187617~~204499% 5.~~440901~~316973% 3.~~084007~~049165% 0.~~296843~~326148% 1.~~679765~~719151% 0.~~192181~~211154% 5.~~252796~~305617%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~169~~163,~~262~~434.7964

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~716014~~641298% Weighted Average Net Coupon 8.~~347027~~274883% Weighted Average Pass-Through Rate 8.~~337027~~264883% Weighted Average Maturity(Stepdown Calculation ) ~~328~~327 Beginning Scheduled Collateral Loan Count 1,~~714~~643 Number Of Loans Paid In Full 7188 Ending Scheduled Collateral Loan Count 1,~~643~~555 Beginning Scheduled Collateral Balance ~~386~~364,~~020~~927,~~748~~205.9884 Ending Scheduled Collateral Balance ~~364~~338,~~927~~707,~~205~~006.8489 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2002 ~~365~~338,~~170~~936,~~756~~078.9308 Monthly P &I Constant 32,~~044~~859,~~342~~957.8271 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount ~~(16~~44,~~377~~947.~~72)~~09 Cumulative Realized Loss 348,~~793~~740.1625 Ending Scheduled Balance for Premium Loans ~~364~~338,~~927~~707,~~205~~006.8489 Scheduled Principal ~~262~~249,~~227~~872.8149 Unscheduled Principal 2025,~~831~~970,~~315~~326.3346 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,849,617.39 Overcollateralized Amount 1,849,617.39 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount ~~525~~450,~~174~~189.0345

Miscellaneous Reporting 3 Month Rolling Delinquency Avg 3.~~291955~~816459%

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.~~923705~~782132 8.~~563455~~431370 8.~~716014~~641298 Weighted Average Net Rate 8.~~569100~~433837 8.~~183905~~051186 8.~~347027~~274883 Weighted Average Maturity ~~318~~317 ~~333~~332 ~~328~~327 Beginning Loan Count 1,~~143~~110 ~~571~~533 1,~~714~~643 Loans Paid In Full 3344 3844 7188 Ending Loan Count 1,~~110~~066 ~~533~~489 1,~~643~~555 Beginning Scheduled Balance ~~163~~157,~~472~~560,~~126~~008.4500 ~~222~~207,~~548~~367,~~622~~197.5384 ~~386~~364,~~020~~927,~~748~~205.9884 Ending scheduled Balance ~~157~~149,~~560~~977,~~008~~341.0070 ~~207~~188,~~367~~729,~~197~~665.8419 ~~364~~338,~~927~~707,~~205~~006.8489 Record Date 0809/3130/2002 0809/3130/2002 0809/3130/2002 Principal And Interest Constant 1,~~306~~265,~~364~~988.8311 1,~~737~~593,~~977~~969.9960 32,~~044~~859,~~342~~957.8271 Scheduled Principal ~~116~~112,~~558~~894.8012 ~~145~~136,~~669~~978.0137 ~~262~~249,~~227~~872.8149 Unscheduled Principal 57,~~795~~469,~~559~~772.6518 1518,~~035~~500,~~755~~554.6828 2025,~~831~~970,~~315~~326.3346 Scheduled Interest 1,~~215~~153,~~647~~093.5799 1,~~588~~456,~~154~~991.2423 2,~~803~~610,~~801~~085.8122 Servicing Fees 4845,~~306~~731.7815 7065,~~390~~697.2593 ~~118~~111,~~697~~429.0308 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~362~~312.2699 1,~~854~~728.5905 3,~~216~~041.8504 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,~~165~~106,~~978~~049.5385 1,~~515~~389,~~909~~565.4025 2,~~681~~495,~~887~~615.9310 Realized Loss Amount 44,947.09 0.00 ~~(16~~44,~~377~~947.~~72)~~09 ~~(16,377.72)~~ Cumulative Realized Loss 044,947.0009 3,793.16 348,~~793~~740.1625 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.~~559100~~423837 8.~~173905~~041186 8.~~337027~~264883

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2001-AC2