8-K 1 msh02001.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 MORGAN STANLEY DEAN WITTER CREDIT CORP HELOC Asset-Backed Notes, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-65702-03 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, NA 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 MORGAN STANLEY DEAN WITTER CREDIT CORP, HELOC Asset-Backed Notes, Series 2002-1 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 HELOC Asset-Backed Notes, Series 2002-1 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. MORGAN STANLEY DEAN WITTER CREDIT CORP HELOC Asset-Backed Notes, Series 2002-1 Trust By: Wells Fargo Bank Minnesota, N.A. as Indenture Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/31/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of HELOC Asset-Backed Notes, Series 2002-1 Trust, relating to the October 25, 2002 distribution. EX-99.1

Morgan Stanley Dean Witter Credit Corp HELOC Trust Mortgage Pass-Through Certificates Record Date: 89/3130/02 ~~Distribution Date: 9~~10/25/02 Distribution Date: MSDWCC Series: 2002-1 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 Note 62474BAA0 SEN 2.~~16125~~16375% ~~472~~471,~~233~~420,~~000~~437.0032 ~~765~~850,~~460~~029.1898 ~~812~~855,~~562~~120.6816 Cert MSH02CERT SUB 0.00000% 0.00 0.00 0.00 OC OC 0.00000% ~~479~~813,042.9260 0.00 0.00 Totals 472,233,479.92 ~~765~~850,~~460~~029.1898 ~~812~~855,~~562~~120.6816

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses Note 0.00 ~~471~~470,~~420~~565,~~437~~317.3216 1,~~578~~705,~~022~~150.8614 0.00 Cert 0.00 0.00 0.00 0.00 OC 014,236.0037 ~~813~~1,~~042~~668,162.6076 0.00 014,236.0037 Totals 014,236.0037 472,233,479.92 1,~~578~~705,~~022~~150.8614 014,236.0037 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) Note 472,233,000.00 ~~472~~471,~~233~~420,~~000~~437.32 0.00 ~~812~~855,~~562~~120.6816 0.00 0.00 ~~0.00~~ Cert 0.00 0.00 0.00 0.00 0.00 0.00 OC 479.92 ~~479~~813,042.9260 0.00 0.00 0.00 014,236.0037 Totals 472,233,479.92 472,233,479.92 ~~812,562.68~~ 0.00 0855,120.0016 0.00 14,236.37 (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 Note ~~812~~855,~~562~~120.6816 ~~471~~470,~~420~~565,~~437~~317.3216 0.~~99827932~~99646852 ~~812~~855,~~562~~120.6816 Cert 0.00 0.00 0.00000000 0.00 OC 014,236.0037 ~~813~~1,~~042~~668,162.6076 13,~~694~~475.~~12110352~~91840307 0.00 Totals ~~812~~869,~~562~~356.6853 472,233,479.92 1.00000000 ~~812~~855,~~562~~120.6816

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion Note 472,233,000.00 ~~1000~~998.27931830 0.00000000 1.~~72068170~~81080136 0.00000000 ~~0.00000000~~ Cert 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 479.92 ~~1000~~1694121.~~00000000~~10351725 0.00000000 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 Note 0.00000000 1.~~72068170~~81080136 ~~998~~996.~~27931830~~46851694 0.~~99827932~~99646852 1.~~72068170~~81080136 Cert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 029,664.~~00000000~~04817470 029,664.~~00000000~~04817470 13,~~694~~475,~~121~~918.~~10351725~~4030671 ~~1694~~3475.~~12110352~~91840307 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 Note 472,233,000.00 2.~~16125~~16375% ~~472~~471,~~233~~420,~~000~~437.0032 ~~765~~850,~~460~~029.1898 0.00 0.00 Cert 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 479.92 0.00000% ~~479~~813,042.9260 0.00 0.00 0.00 Totals 472,233,479.92 ~~765~~850,~~460~~029.1898 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 Note 0.00 0.00 ~~765~~850,~~460~~029.1898 0.00 ~~471~~470,~~420~~565,~~437~~317.3216 Cert 0.00 0.00 0.00 0.00 0.00 OC 0.00 0.00 0.00 0.00 ~~813~~1,~~042~~668,162.6076 Totals 0.00 0.00 ~~765~~850,~~460~~029.1898 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 Note 472,233,000.00 2.~~16125~~16375% ~~1000~~998.~~00000000~~27931830 1.~~62093750~~80002240 0.00000000 0.00000000 Cert 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 479.92 0.00000% ~~1000~~1694121.~~00000000~~10351725 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 Note 0.00000000 0.00000000 1.~~62093750~~80002240 0.00000000 ~~998~~996.~~27931830~~46851694 Cert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~1694121~~3475918.~~10351725~~40306718 (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 1,~~808~~952,~~399~~739.7650 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 1,~~808~~952,~~399~~739.7650 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~230~~247,~~126~~589.9036 Payment of Interest and Principal 1,~~578~~705,~~022~~150.8614 Total Withdrawals (Pool Distribution Amount) 1,~~808~~952,~~149~~739.7650 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~178~~196,~~968~~268.3281 Credit Enhancer Premium 51,~~158~~070.5855 Owner Trustee Fee 0250.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~230~~247,~~126~~589.9036

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0717,158.0001 0.00 ~~0.00~~ 717,158.01 0.00

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 011 04 0 0 015 01,052,009.0046 0568,206.0062 0.00 0.00 01,620,216.0008 60 Days 03 0 0 0 03 0115,142.0092 0.00 0.00 0.00 0115,142.0092 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 014 04 0 0 018 01,167,152.0038 0568,206.0062 0.00 0.00 01,735,359.00 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.~~000000~~151140% 0.~~000000~~054960% 0.000000% 0.000000% 0.~~000000~~206101% 0.~~000000~~222773% 0.~~000000~~120323% 0.000000% 0.000000% 0.~~000000~~343096% 60 Days 0.~~000000~~041220% 0.000000% 0.000000% 0.000000% 0.~~000000~~041220% 0.~~000000~~024383% 0.000000% 0.000000% 0.000000% 0.~~000000~~024383% 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.~~000000~~192361% 0.~~000000~~054960% 0.000000% 0.000000% 0.~~000000~~247321% 0.~~000000~~247156% 0.~~000000~~120323% 0.000000% 0.000000% 0.~~000000~~367479%

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 4.~~595353~~998314% Weighted Average Net Coupon 4.~~140574~~499572% Weighted Average Pass-Through Rate 4.~~009939~~369160% Weighted Average Maturity(Stepdown Calculation ) 0 Beginning Scheduled Collateral Loan Count 7,~~403~~368 Number Of Loans Paid In Full 3590 Ending Scheduled Collateral Loan Count 7,~~368~~278 Beginning Scheduled Collateral Balance 472,233,479.92 Ending Scheduled Collateral Balance 472,233,479.92 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2002 472,233,479.92 Monthly P &I Constant 0.00 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00

Principal Collections $0.00 Interest Collections $1,~~629~~756,~~431~~470.4368 Investor P & I Collections $1,~~629~~756,~~431~~470.4368 Substitute Adjustment Amount $0.00 Current Period Additional Balances $2920,~~065~~090,~~290~~196.5197 Credit Enhancement Draw Amount $0.00 Aggregate Unreimbursed Credit Enhancement $0.00 Sum of the Three Largest Loan Balances $9,564,~~711~~911.97

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Mixed Fixed Fixed & Mixed ARM Weighted Average Coupon Rate 0.000000 0.000000 4.595353 Weighted Average Net Rate 0.000000 0.000000 4.140574 Weighted Average Maturity 0 0 0 Beginning Loan Count 7,048 355 7,403 Loans Paid In Full 0 0 0 Ending Loan Count 0 0 0 Beginning Scheduled Balance 448,269,861.51 23,963,593.41 472,233,454.92 Ending scheduled Balance 0.00 0.00 0.00 Record Date 08/31/2002 08/31/2002 08/31/2002 Principal And Interest Constant 0.00 0.00 0.00 Scheduled Principal 0.00 0.00 0.00 Unscheduled Principal 0.00 0.00 0.00 Scheduled Interest 0.00 0.00 0.00 Servicing Fees 0.00 0.00 0.00 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 0.00 0.00 0.00 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties Special Servicing Fee

Filing Compare · MSDWCC HELOC TRUST 2002-1