8-K 1 irw02a.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 IRWIN WHOLE LOAN HOME EQUITY TRUST Home Equity Loan-Backed Notes, Series 2002-A Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-12 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction 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 25, 2002 a distribution was made to holders of Irwin Whole Loan Home Equity Trust 2002-A, Home Equity Loan-Backed Notes, Series 2002-A. 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 Home Equity Loan- Backed Notes, Series 2002-A 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. Irwin Whole Loan Home Equity Trust 2002-A Home Equity Loan-Backed Notes, Series 2002-A. By: Wells Fargo Bank Minnesota, N.A. as Indenture Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 11/05/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan-Backed Notes, Series 2002-A, relating to the October 25, 2002 distribution.

Home Equity Loan-Backed Notes, Series 2002-A Irwin Whole Loan Home Equity Trust 2002-A Master Servicer Certificate ~~Remittance~~Payment Date: ~~September~~October 25, 2002 Certificate Summary Offered Note Distribution Summary Offered Note Distribution Summary Class of Beginning Note Interest Principal Aggregate Ending Note Notes Note Rate Balance Distribution Distribution Distribution Balance I A-1 2.~~08000~~08375% 4746,~~926~~276,~~053~~026.3020 8380,~~071~~356.8339 1,~~650~~543,~~027~~960.1049 1,~~733~~624,~~098~~316.9288 4644,~~276~~732,~~026~~065.2071 VFN 2.~~08000~~08375% - - - - - II A-1 1.~~96000~~96375% 2827,~~504~~020,~~635~~071.2978 4644,~~557~~217.5722 1,~~484~~861,~~563~~573.5135 1,~~531~~905,~~121~~790.0857 2725,~~020~~158,~~071~~498.7843 II A-2 4.84000% 29,248,000.00 117,966.93 - 117,966.93 29,248,000.00 II A-3 6.45000% 15,783,000.00 84,833.63 - 84,833.63 15,783,000.00 II A-IO (1) 10.00000% 9,879,000.00 82,325.00 NA 82,325.00 9,879,000.00 II M-1 6.50000% 8,645,000.00 46,827.08 - 46,827.08 8,645,000.00 II M-2 7.10000% 5,928,000.00 35,074.00 - 35,074.00 5,928,000.00 II B-1 7.50000% 7,162,000.00 44,762.50 - 44,762.50 7,162,000.00 Total ~~143~~140,~~196~~062,~~688~~097.5998 ~~541~~536,~~418~~362.5475 3,~~134~~405,~~590~~533.6084 3,~~676~~941,~~009~~896.1459 ~~140~~136,~~062~~656,~~097~~564.9914 Non-Offered Subordinate Note Distribution Summary Class of Beginning Note Interest Principal Aggregate Ending Note Notes Note Rate Balance Distribution Distribution Distribution Balance X-1 NA 1,~~614~~367,~~602~~824.1097 NA ~~246~~227,~~777~~570.1381 ~~246~~227,~~777~~570.1381 1,~~367~~140,~~824~~254.9716 X-2A NA ~~100~~206,~~208~~690.1513 - - - ~~206~~301,~~690~~526.1336 X-2B NA ~~400~~826,~~832~~760.6254 - - - ~~826~~1,~~760~~206,105.5342 II X-IO (1) 0.25000% 9594,~~771~~715,~~676~~561.0670 19,~~952~~732.4341 NA 19,~~952~~732.4341 9493,~~715~~223,~~561~~903.7080 Total ~~266~~247,~~729~~303.5622 (1) Class A-IO and Class II X-IO Note Balances are Notional LIBOR 1.~~81000~~81375% Interest Period Begin 0809/2625/2002 Interest Period End 0910/24/2002 Number of Interest Accrual Days: 30 Days in Collection Period: 3130 Noteholder Distribution Factors Summary (Per $1,000 Original Principal Amount) Class of Original Note Interest Principal Aggregate Ending Note Notes Balance Distribution Distribution Distribution Factor I A-1 49,230,000.00 1.~~68742283~~63226470 3331.~~51669909~~36218751 3532.~~20412192~~99445221 ~~939~~908.~~99646971~~63428212 VFN - 0.00000000 0.00000000 0.00000000 0.00000000 II A-1 32,029,000.00 1.~~45360676~~38053706 4658.~~35060434~~12149445 4759.~~80421110~~50203151 ~~843~~785.~~61271921~~49122465 II A-2 29,248,000.00 4.03333333 0.00000000 4.03333333 1,000.00000000 II A-3 15,783,000.00 5.37500000 0.00000000 5.37500000 1,000.00000000 II A-IO 9,879,000.00 8.33333333 NA 8.33333333 NA II M-1 8,645,000.00 5.41666667 0.00000000 5.41666667 1,000.00000000 II M-2 5,928,000.00 5.91666667 0.00000000 5.91666667 1,000.00000000 II B-1 7,162,000.00 6.25000000 0.00000000 6.25000000 1,000.00000000 148,025,000.00

Pool Collections: Group I Group II Total Aggregate Collections (HELOCs) 21,~~023~~902,~~444~~608.9155 21,~~023~~902,~~444~~608.9155 Aggregate Collections (HELs) ~~560~~743,~~516~~466.0152 ~~560~~743,~~516~~466.0152 Aggregate Collections (HEL125s) 1,~~630~~798,~~027~~448.3727 1,~~630~~798,~~027~~448.3727 Total Aggregate Collections 21,~~023~~902,~~444~~608.9155 2,~~190~~541,~~543~~914.3879 4,~~213~~444,~~988~~523.2934 Interest Collections (HELOCs) ~~342~~337,~~247~~761.5715 ~~342~~337,~~247~~761.5715 Interest Collections (HELs) ~~207~~200,~~752~~433.2316 ~~207~~200,~~752~~433.2316 Interest Collections (HEL125s) ~~926~~901,~~676~~087.7928 ~~926~~901,~~676~~087.7928 Total Interest Collections ~~342~~337,~~247~~761.5715 1,~~134~~101,~~429~~520.0244 1,~~476~~439,~~676~~281.59 Principal Collections (HELOCs) 1,~~681~~564,~~197~~847.3440 1,~~681~~564,~~197~~847.3440 Principal Collections (HELs) ~~352~~543,~~763~~033.7836 ~~352~~543,~~763~~033.7836 Principal Collections (HEL125s) ~~703~~897,~~350~~360.5899 ~~703~~897,~~350~~360.5899 Total Principal Collections 1,~~681~~564,~~197~~847.3440 1,~~056~~440,~~114~~394.3635 23,~~737~~005,~~311~~241.7075 Additional Balances Created ~~135~~125,~~130~~713.9952 ~~135~~125,~~130~~713.9952 Additional Balances Purchased ~~135~~125,~~130~~713.9952 ~~135~~125,~~130~~713.9952 Additional Balance Differential - - Net Principal Collections 1,~~546~~439,~~066~~133.3588 1,~~056~~440,~~114~~394.3635 2,~~602~~879,~~180~~528.7123 Principal Collections Distribution Amount 1,~~546~~439,~~066~~133.3588 1,~~056~~440,~~114~~394.3635 2,~~602~~879,~~180~~528.7123 Recoveries - - - Mortgage Loans Repurchased - - - Insurance Proceeds - - - less Servicing Fee 4138,~~269~~649.6699 8278,~~470~~929.0563 ~~123~~117,~~739~~579.7162 Master Servicer Remittance 1,~~847~~738,~~044~~245.2604 2,~~108~~462,~~073~~985.3316 34,~~955~~201,~~117~~230.5920 Payments in Order of Priority Group I Group II Total Premium due to Enhancer 8,~~786~~503.4400 8,~~786~~503.4400 Depositor Administrative Services Fee 1,~~198~~159.1550 2,~~394~~367.2989 3,~~592~~527.4439 Class A Interest Distribution 8380,~~071~~356.8339 ~~331~~329,~~683~~342.1378 ~~414~~409,~~754~~699.9617 II M-1 Interest Distribution 46,827.08 46,827.08 II M-2 Interest Distribution 35,074.00 35,074.00 II B-1 Interest Distribution 44,762.50 44,762.50 Class A Principal Collection Distribution 1,~~546~~439,~~066~~133.3588 1,~~056~~440,~~114~~394.3635 2,~~602~~879,~~180~~528.7123 II M-1 Principal Collection Distribution - - II M-2 Principal Collection Distribution - - II B-1 Principal Collection Distribution - - Class A Liquidation Loss Distribution -560.95 -51,263.55 -51,824.50 II M-1 Liquidation Loss Distribution - - II M-2 Liquidation Loss Distribution - - II B-1 Liquidation Loss Distribution - - II X-IO Interest Distribution 19,~~952~~732.4341 19,~~952~~732.4341 Class A Overcollateralization Increase ~~103~~104,~~960~~265.7566 ~~428~~369,~~449~~915.1545 ~~532~~474,~~409~~181.8911 II M-1 Overcollateralization Increase - - II M-2 Overcollateralization Increase - - II B-1 Overcollateralization Increase - - Other Unpaid Enhancer Expenses - - - Other Unpaid Expenses - - - X-1 Principal Distribution ~~103~~104,~~960~~265.7566 ~~142~~123,~~816~~305.3815 ~~246~~227,~~777~~570.1381 X-2A Distribution - - - X-2B Distribution - - - Total Distributions 1,~~847~~738,~~044~~245.2604 2,~~108~~462,~~073~~985.3316 34,~~955~~201,~~117~~230.5920 Excess Spread ~~207~~209,~~921~~092.4927 ~~591~~564,~~217~~216.9655 ~~799~~773,~~139~~308.4583

Pool Summary Group I Group II Total Beginning Pool Balance (HELOCs) 4746,~~926~~379,~~053~~986.3095 4746,~~926~~379,~~053~~986.3095 Beginning Pool Balance (HELs) 21,~~452~~099,~~109~~346.8406 21,~~452~~099,~~109~~346.8406 Beginning Pool Balance (HEL125s) 7473,~~319~~616,~~566~~215.2264 7473,~~319~~616,~~566~~215.2264 Total Beginning Pool Balance 4746,~~926~~379,~~053~~986.30 95 94,~~771~~715,~~676~~561.0670 ~~143~~141,~~697~~095,~~729~~548.3665 Ending Pool Balance (HELOCs) 4644,~~379~~940,~~986~~292.9512 4644,~~379~~940,~~986~~292.9512 Ending Pool Balance (HELs) 2120,~~099~~538,~~346~~714.0622 2120,~~099~~538,~~346~~714.0622 Ending Pool Balance (HEL125s) 7372,~~616~~685,~~215~~189.6458 7372,~~616~~685,~~215~~189.6458 Total Ending Pool Balance 4644,~~379~~940,~~986~~292.9512 9493,~~715~~223,~~561~~903.7080 ~~141~~138,~~095~~164,~~548~~195.6592 Beginning Loan Count (HELOCs) 1,~~049~~017 1,~~049~~017 Beginning Loan Count (HELs) ~~477~~469 ~~477~~469 Beginning Loan Count (HEL125s) 1,~~749~~731 1,~~749~~731 Total Beginning Loan Count 1,~~049~~017 2,~~226~~200 3,~~275~~217 Ending Loan Count (HELOCs) ~~1,017~~980 ~~1,017~~980 Ending Loan Count (HELs) ~~469~~458 ~~469~~458 Ending Loan Count (HEL125s) 1,~~731~~711 1,~~731~~711 Total Ending Loan Count ~~1,017~~980 2,~~200~~169 3,~~217~~149 Loans Removed from the Trust Group I Group II Total Number of Loans - - - Principal Balance - - - Loss Summary Group I Group II Total Current Liquidation Losses (HELOCs) -560.95 -560.95 Current Liquidation Losses (HELs) -17,598.48 -17,598.48 Current Liquidation Losses (HEL125s) -33,665.07 -33,665.07 Total Current Liquidation Losses -560.95 -51,263.55 -51,824.50 12 Month Liquidation Losses (HELOCs) -560.95 -560.95 12 Month Liquidation Losses (HELs) -17,598.48 -17,598.48 12 Month Liquidation Losses (HEL125s) -33,665.07 -33,665.07 Total 12 Month Liquidation Losses -560.95 -51,263.55 -51,824.50 Aggregate Liquidation Losses (HELOCs) -560.95 -560.95 Aggregate Liquidation Losses (HELs) -17,598.48 -17,598.48 Aggregate Liquidation Losses (HEL125s) -33,665.07 -33,665.07 Total Aggregate Liquidation Losses -560.95 -51,263.55 -51,824.50 Annulalized Group I Loss Percentage 0.0001% Rolling 12-Month Loss Percentage 0.00% Cumulative Liquidation Loss Percentage 0.00% 0.0005%

Overcollateralization Summary Group I Group II Total Base Overcollateralization Target 1,575,360.00 5,433,725.00 7,009,085.00 180 Days Past Due, REO & Foreclosure Loans 21,243.89 NA 21,243.89 Total Overcollateralization Target Amount 1,596,603.89 5,433,725.00 7,030,328.89 Beginning Overcollateralization Amount -103,960.75 ~~501~~929,~~040~~489.7792 ~~501~~1,~~040~~033,450.7767 Overcollateralization Increase Amount ~~103~~104,~~960~~265.7566 ~~428~~369,~~449~~915.1545 ~~532~~474,~~409~~181.8911 Overcollateralization Release Amount - - - Ending Overcollateralization Amount ~~103~~208,~~960~~226.7541 ~~929~~1,~~489~~299,405.9237 1,~~033~~507,~~450~~631.6678 Group I Group II Cumulative Liquidation Loss Percentage 0.00% 0.0005% Loss Test Satisfied? Yes Yes Loss Test Targets: Group I Group II Collection Periods 1 to 24 1.50% Collection Periods 25 to 48 3.35% 9.50% Collection Periods 49 to 60 4.00% 11.25% Collection Periods 61 to 84 4.50% 11.75% Collection Periods 85+ 4.50% 12.25% Senior Enhancement Percentage 23.2293% 17.75% of the Senior Enhancement Percentage 2.7381% 3-Mo. Rolling Average 60-Day Delinquency % 0.4368% Group II Delinquency Test Satisfied? Yes Annualized Interest Collections Rate 8.~~569~~739% Annulalized Group I Loss Percentage 0.~~000~~015% Group I Excess Cash Rate 8.~~569~~724% Group I Initial Excess Spread Rate 5.462% Group I Excess Cash Rate Test Satisfied? Yes Balance of 3 Largest Group I Loans 1,086,282.47 ~~Overcollaterlization~~Overcollateralization Targets Group I Group II ~~Totals~~Total Initial Principal Balance 49,230,000.00 98,795,000.00 148,025,000.00 Initial Target (% of Initial Principal Balance) 3.20% 5.50% Step-down Target (% of Current Balance) 6.40% 11.00% Triggered Target (% of Initial Principal Balance) 4.80% Step-down Date January 25, 2005 July 25, 2005 3-Mo. Rolling Average 90-Day Delinquency % 0.2220% Net Loan Rate 7.~~344~~351% Rapid Amortization Event: None Servicing Default: None

Delinquency Summary Group I Group II Group II Group II Grand HELOCs HELs HEL 125s Total Total Current Loans # Balance # Balance # Balance # Balance # Balance Bankrupt 34 7490,~~686~~338.3147 1 24,~~348~~235.2463 35 97168,~~231~~272.1184 46 ~~121~~192,~~579~~508.3547 710 ~~196~~282,~~265~~846.6694 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 34 7490,~~686~~338.3147 1 24,~~348~~235.2463 35 97168,~~231~~272.1184 46 ~~121~~192,~~579~~508.3547 710 ~~196~~282,~~265~~846.6694 30 - 59 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 122 ~~380~~70,~~958~~772.1293 24 ~~150~~155,~~739~~918.6224 511 ~~143~~364,~~769~~713.8952 715 ~~294~~520,~~509~~631.5176 1917 ~~675~~591,~~467~~404.6369 Bankrupt -1 -49,772.57 - - 2 7480,~~142~~031.9931 2 7480,~~142~~031.9931 23 74129,~~142~~803.9988 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 123 ~~380~~120,~~958~~545.1250 24 ~~150~~155,~~739~~918.6224 713 ~~217~~444,~~912~~744.8883 917 ~~368~~600,~~652~~663.5007 2120 ~~749~~721,~~610~~208.6257 60 - 89 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 3 136,181.04 - - 21 3734,~~034~~607.6898 81 ~~272~~34,~~277~~607.3698 104 ~~$309~~170,~~312~~789.0402 ~~10 309,312.04~~ Bankrupt - - - - -1 -34,960.94 -1 -34,960.94 -1 -34,960.94 REO - - - - - - - - - - Foreclosure - - -1 -83,854.00 - - -1 -83,854.00 -1 -83,854.00 Total -3 -136,181.04 21 3783,~~034~~854.6800 82 ~~272~~69,~~277~~568.3692 103 ~~309~~153,~~312~~422.0492 106 ~~309~~289,~~312~~603.0496 90 - 119 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent ~~1 29,295.37~~ - - 62 ~~232~~37,~~255~~034.8468 67 ~~232~~237,~~255~~518.8438 79 ~~261~~274,~~551~~553.2106 9 274,553.06 Bankrupt - - - - 3- ~~76,447.09~~- 3- ~~76,447.09~~- 3- ~~76,447.09~~- REO - - - - - - - - - - Foreclosure 1- ~~21,243.89~~- - - - - - - 1- ~~21,243.89~~- Total - - 2 5037,~~539~~034.2668 -7 ~~- 9 308~~237,~~702~~518.9338 9 ~~308~~274,~~702~~553.9306 119 ~~359~~274,~~242~~553.1906 120 - 149 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent ~~1 62,000.00~~ - - 15 19205,~~898~~589.2882 15 19205,~~898~~589.2882 25 81205,~~898~~589.2882 Bankrupt - - -4 ~~- 1 47~~103,~~400~~113.0011 14 47103,~~400~~113.0011 14 47103,~~400~~113.0011 REO - - - - - - - - ~~- -~~ Foreclosure - - - - - - - - Total - - ~~Total 1 62,000.00~~ - - 29 67308,~~298~~702.2893 29 67308,~~298~~702.2893 39 ~~129~~308,~~298~~702.2893 150 - 179 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent -1 -62,000.00 - - -1 -19,898.28 -1 -19,898.28 -2 -81,898.28 Bankrupt - - - - -1 -47,400.00 -1 -47,400.00 -1 -47,400.00 REO - - - - - - - - - - Foreclosure -1 -21,243.89 - - - - - - -1 -21,243.89 Total -2 -83,243.89 - - -2 -67,298.28 -2 -67,298.28 -4 -150,542.17 180 or More Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - - - - - - - - - Bankrupt - - - - - - - - - - REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total - - - - - - - - - - Total Bankrupt 35 74140,~~686~~111.3104 1 24,~~348~~235.2463 913 ~~295~~433,~~221~~778.1920 1014 ~~319~~458,~~569~~013.4383 1319 ~~394~~598,~~255~~124.7487 Total REO - - - - - - - - - - Total Foreclosure 1 21,243.89 -1 -83,854.00 - - -1 -83,854.00 12 21105,~~243~~097.89

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC IR WH LN HM EQ TR 2002-A