8-K 1 arc02bc7.txt NOVEMBER 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): November 25, 2002 AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC7 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-92140-04 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN 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 November 25, 2002 a distribution was made to holders of AMORTIZING RESIDENTIAL COLLATERAL TRUST, Mortgage Pass-Through Certificates, Series 2002-BC7 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-BC7 Trust, relating to the November 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. AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC7 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: 12/3/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC7 Trust, relating to the November 25, 2002 distribution.

Amortizing Residential Collateral Mortgage Trust Mortgage Pass-Through Certificates Record Date: 910/3031/02 ~~Distribution Date: 10~~11/25/02 Distribution Date: ARC Series: 2002-BC7 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-1 86358R7H4 SEN 2.~~19375~~21000% ~~532~~530,~~603~~149,~~000~~429.0019 ~~973~~1,~~664~~008,903.8682 23,~~453~~087,~~570~~797.8106 A-2 86358R7J0 SEN 2.~~02375~~04000% ~~111~~110,~~420~~823,~~000~~247.0050 ~~187~~194,~~905~~679.1950 ~~596~~1,~~752~~858,311.5003 A-3 86358R7W1 SEN 2.~~26375~~28000% 59,260,000.00 ~~111~~116,~~791~~347.5213 0.00 A-IO 86358R7K7 SEN 6.00000% 0.00 1,365,195.37 0.00 A-SIO 86358R7L5 SEN 0.00000% 0.00 0.00 0.00 M-1 86358R7M3 SUB 2.~~61375~~63000% 49,643,000.00 ~~108~~112,~~128~~427.6661 0.00 M-2 86358R7N1 SUB 2.~~71375~~73000% 17,375,000.00 3940,~~292~~845.8473 0.00 M-3 86358R7P6 SUB 2.~~81375~~83000% 8,273,000.00 1920,~~398~~160.4684 0.00 M-4 86358R7Q4 SUB 3.~~21375~~23000% 6,206,000.00 1617,~~620~~261.4430 0.00 M-5 86358R7R2 SUB 3.~~41375~~43000% 10,342,000.00 2930,~~420~~546.8425 0.00 M-6 86358R7S0 SUB 3.~~61375~~63000% 4,137,000.00 12,~~458~~931.4057 0.00 B-1 86358R7T8 SUB 3.~~81375~~83000% 8,274,000.00 2627,~~295~~288.8111 0.00 B-2 86358R7U5 SUB 4.~~01375~~03000% 6,206,000.00 2021,~~757~~536.7854 0.00 B-3 86358R7V3 SUB 3.~~81375~~83000% 10,342,000.00 3234,~~868~~108.1749 0.00 X ARC02BC7X SUB 0.00000% 3,310,137.00 2,~~404~~325,~~195~~026.6190 0.00 P ARC02BC7P SEN 0.00000% 0.00 058,483.0075 0.00 R-1 ARC02B7R1 SEN 0.00000% 0.00 0.00 0.00 R-2 ARC02B7R2 SEN 0.00000% 0.00 0.00 0.00 R-3 ARC02B7R3 SEN 0.00000% 0.00 0.00 0.00 Totals ~~827~~824,~~391~~340,~~137~~813.0069 5,~~347~~385,~~993~~742.9591 34,~~050~~946,~~323~~108.3109

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~530~~527,~~149~~061,~~429~~632.1913 34,~~427~~096,~~235~~700.6788 0.00 A-2 0.00 ~~110~~108,~~823~~964,~~247~~936.5047 ~~784~~2,~~657~~052,990.6953 0.00 A-3 0.00 59,260,000.00 ~~111~~116,~~791~~347.5213 0.00 A-IO 0.00 0.00 1,365,195.37 0.00 A-SIO 0.00 0.00 0.00 0.00 M-1 0.00 49,643,000.00 ~~108~~112,~~128~~427.6661 0.00 M-2 0.00 17,375,000.00 3940,~~292~~845.8473 0.00 M-3 0.00 8,273,000.00 1920,~~398~~160.4684 0.00 M-4 0.00 6,206,000.00 1617,~~620~~261.4430 0.00 M-5 0.00 10,342,000.00 2930,~~420~~546.8425 0.00 M-6 0.00 4,137,000.00 12,~~458~~931.4057 0.00 B-1 0.00 8,274,000.00 2627,~~295~~288.8111 0.00 B-2 0.00 6,206,000.00 2021,~~757~~536.7854 0.00 B-3 0.00 10,342,000.00 3234,~~868~~108.1749 0.00 X 0.00 3,310,137.00 2,~~404~~325,~~195~~026.6190 0.00 P 0.00 0.00 058,483.0075 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 Totals 0.00 ~~824~~819,~~340~~394,~~813~~705.6960 810,~~398~~331,~~317~~851.2600 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-1 532,603,000.00 ~~532~~530,~~603~~149,~~000~~429.0019 0.00 23,~~453~~087,~~570~~797.8106 0.00 0.00 A-2 111,420,000.00 ~~111~~110,~~420~~823,~~000~~247.0050 0.00 ~~596~~1,~~752~~858,311.5003 0.00 0.00 A-3 59,260,000.00 59,260,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-SIO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 49,643,000.00 49,643,000.00 0.00 0.00 0.00 0.00 M-2 17,375,000.00 17,375,000.00 0.00 0.00 0.00 0.00 M-3 8,273,000.00 8,273,000.00 0.00 0.00 0.00 0.00 M-4 6,206,000.00 6,206,000.00 0.00 0.00 0.00 0.00 M-5 10,342,000.00 10,342,000.00 0.00 0.00 0.00 0.00 M-6 4,137,000.00 4,137,000.00 0.00 0.00 0.00 0.00 B-1 8,274,000.00 8,274,000.00 0.00 0.00 0.00 0.00 B-2 6,206,000.00 6,206,000.00 0.00 0.00 0.00 0.00 B-3 10,342,000.00 10,342,000.00 0.00 0.00 0.00 0.00 X 3,310,137.00 3,310,137.00 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 Totals 827,391,137.00 ~~827~~824,~~391~~340,~~137~~813.0069 0.00 34,~~050~~946,~~323~~108.3109 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-1 23,~~453~~087,~~570~~797.8106 ~~530~~527,~~149~~061,~~429~~632.1913 0.~~99539325~~98959569 23,~~453~~087,~~570~~797.8106 A-2 ~~596~~1,~~752~~858,311.5003 ~~110~~108,~~823~~964,~~247~~936.5047 0.~~99464412~~97796568 ~~596~~1,~~752~~858,311.5003 A-3 0.00 59,260,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 A-SIO 0.00 0.00 0.00000000 0.00 M-1 0.00 49,643,000.00 1.00000000 0.00 M-2 0.00 17,375,000.00 1.00000000 0.00 M-3 0.00 8,273,000.00 1.00000000 0.00 M-4 0.00 6,206,000.00 1.00000000 0.00 M-5 0.00 10,342,000.00 1.00000000 0.00 M-6 0.00 4,137,000.00 1.00000000 0.00 B-1 0.00 8,274,000.00 1.00000000 0.00 B-2 0.00 6,206,000.00 1.00000000 0.00 B-3 0.00 10,342,000.00 1.00000000 0.00 X 0.00 3,310,137.00 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 Totals 34,~~050~~946,~~323~~108.3109 ~~824~~819,~~340~~394,~~813~~705.6960 0.~~99631332~~99033537 34,~~050~~946,~~323~~108.3109

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 532,603,000.00 ~~1000~~995.~~00000000~~39324636 0.00000000 45.~~60675364~~79755852 0.00000000 A-2 111,420,000.00 ~~1000~~994.~~00000000~~64411686 0.00000000 516.~~35588314~~67843323 0.00000000 A-3 59,260,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 49,643,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 17,375,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 8,273,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 6,206,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 10,342,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 4,137,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 8,274,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 6,206,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 10,342,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,310,137.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 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 (2) All classes are 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-1 0.00000000 45.~~60675364~~79755852 ~~995~~989.~~39324636~~59568784 0.~~99539325~~98959569 45.~~60675364~~79755852 A-2 0.00000000 516.~~35588314~~67843323 ~~994~~977.~~64411686~~96568363 0.~~99464412~~97796568 516.~~35588314~~67843323 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 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 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 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 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 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 (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-1 532,603,000.00 2.~~19375~~21000% ~~532~~530,~~603~~149,~~000~~429.0019 ~~973~~1,~~664~~008,903.8682 0.00 0.00 A-2 111,420,000.00 2.~~02375~~04000% ~~111~~110,~~420~~823,~~000~~247.0050 ~~187~~194,~~905~~679.1950 0.00 0.00 A-3 59,260,000.00 2.~~26375~~28000% 59,260,000.00 ~~111~~116,~~791~~347.5213 0.00 0.00 A-IO 0.00 6.00000% 273,039,075.00 1,365,195.38 0.00 0.00 A-SIO 0.00 0.00000% ~~827~~824,~~391~~340,~~137~~813.2469 0.00 0.00 0.00 M-1 49,643,000.00 2.~~61375~~63000% 49,643,000.00 ~~108~~112,~~128~~427.6661 0.00 0.00 M-2 17,375,000.00 2.~~71375~~73000% 17,375,000.00 3940,~~292~~845.8473 0.00 0.00 M-3 8,273,000.00 2.~~81375~~83000% 8,273,000.00 1920,~~398~~160.4684 0.00 0.00 M-4 6,206,000.00 3.~~21375~~23000% 6,206,000.00 1617,~~620~~261.4430 0.00 0.00 M-5 10,342,000.00 3.~~41375~~43000% 10,342,000.00 2930,~~420~~546.8425 0.00 0.00 M-6 4,137,000.00 3.~~61375~~63000% 4,137,000.00 12,~~458~~931.4057 0.00 0.00 B-1 8,274,000.00 3.~~81375~~83000% 8,274,000.00 2627,~~295~~288.8111 0.00 0.00 B-2 6,206,000.00 4.~~01375~~03000% 6,206,000.00 2021,~~757~~536.7854 0.00 0.00 B-3 10,342,000.00 3.~~81375~~83000% 10,342,000.00 3234,~~868~~108.1749 0.00 0.00 X 3,310,137.00 0.00000% 3,310,137.00 0.00 0.00 0.00 P 0.00 0.00000% 0.01 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 Totals 827,391,137.00 23,~~943~~002,~~798~~232.3527 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-1 0.00 0.00 ~~973~~1,~~664~~008,903.8682 0.00 ~~530~~527,~~149~~061,~~429~~632.1913 A-2 0.00 0.00 ~~187~~194,~~905~~679.1950 0.00 ~~110~~108,~~823~~964,~~247~~936.5047 A-3 0.00 0.00 ~~111~~116,~~791~~347.5213 0.00 59,260,000.00 A-IO 0.00 0.00 1,365,195.37 0.00 273,039,075.00 A-SIO 0.00 0.00 0.00 0.00 ~~824~~819,~~340~~394,~~813~~705.6960 M-1 0.00 0.00 ~~108~~112,~~128~~427.6661 0.00 49,643,000.00 M-2 0.00 0.00 3940,~~292~~845.8473 0.00 17,375,000.00 M-3 0.00 0.00 1920,~~398~~160.4684 0.00 8,273,000.00 M-4 0.00 0.00 1617,~~620~~261.4430 0.00 6,206,000.00 M-5 0.00 0.00 2930,~~420~~546.8425 0.00 10,342,000.00 M-6 0.00 0.00 12,~~458~~931.4057 0.00 4,137,000.00 B-1 0.00 0.00 2627,~~295~~288.8111 0.00 8,274,000.00 B-2 0.00 0.00 2021,~~757~~536.7854 0.00 6,206,000.00 B-3 0.00 0.00 3234,~~868~~108.1749 0.00 10,342,000.00 X 0.00 0.00 2,~~404~~325,~~195~~026.6190 0.00 3,310,137.00 P 0.00 0.00 058,483.0075 0.00 0.01 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 5,~~347~~385,~~993~~742.9591 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-1 532,603,000.00 2.~~19375~~21000% ~~1000~~995.~~00000000~~39324636 1.~~82812500~~89428865 0.00000000 0.00000000 A-2 111,420,000.00 2.~~02375~~04000% ~~1000~~994.~~00000000~~64411686 1.~~68645836~~74725812 0.00000000 0.00000000 A-3 59,260,000.00 2.~~26375~~28000% 1000.00000000 1.~~88645832~~96333328 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000002 0.00000000 0.00000000 A-SIO 0.00 0.00000% ~~1000~~996.~~00000000~~31332339 0.00000000 0.00000000 0.00000000 M-1 49,643,000.00 2.~~61375~~63000% 1000.00000000 2.~~17812501~~26472232 0.00000000 0.00000000 M-2 17,375,000.00 2.~~71375~~73000% 1000.00000000 2.~~26145842~~35083338 0.00000000 0.00000000 M-3 8,273,000.00 2.~~81375~~83000% 1000.00000000 2.~~34479149~~43694428 0.00000000 0.00000000 M-4 6,206,000.00 3.~~21375~~23000% 1000.00000000 2.~~67812440~~78138898 0.00000000 0.00000000 M-5 10,342,000.00 3.~~41375~~43000% 1000.00000000 2.~~84479211~~95361149 0.00000000 0.00000000 M-6 4,137,000.00 3.~~61375~~63000% 1000.00000000 3.~~01145758~~12583273 0.00000000 0.00000000 B-1 8,274,000.00 3.~~81375~~83000% 1000.00000000 3.~~17812545~~29805535 0.00000000 0.00000000 B-2 6,206,000.00 4.~~01375~~03000% 1000.00000000 3.~~34479214~~47027715 0.00000000 0.00000000 B-3 10,342,000.00 3.~~81375~~83000% 1000.00000000 3.~~17812512~~29805550 0.00000000 0.00000000 X 3,310,137.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 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 (5) All classes are 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-1 0.00000000 0.00000000 1.~~82812500~~89428865 0.00000000 ~~995~~989.~~39324636~~59568784 A-2 0.00000000 0.00000000 1.~~68645836~~74725812 0.00000000 ~~994~~977.~~64411686~~96568363 A-3 0.00000000 0.00000000 1.~~88645832~~96333328 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 4.99999998 0.00000000 1000.00000000 A-SIO 0.00000000 0.00000000 0.00000000 0.00000000 ~~996~~990.~~31332339~~33536706 M-1 0.00000000 0.00000000 2.~~17812501~~26472232 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~26145842~~35083338 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~34479149~~43694428 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.~~67812440~~78138898 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 2.~~84479211~~95361149 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~01145758~~12583273 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~17812545~~29805535 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 3.~~34479214~~47027715 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.~~17812512~~29805550 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~726~~702.~~31302269~~39597334 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 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 (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 810,~~720~~600,~~082~~757.3303 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~246~~388,~~938~~270.7371 Realized Losses 0.00 Prepayment Penalties ~~149~~58,~~537~~483.2275 Total Deposits 911,~~116~~047,~~558~~511.2849 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~718~~715,~~241~~660.0249 Payment of Interest and Principal 810,~~398~~331,~~317~~851.2600 Total Withdrawals (Pool Distribution Amount) 911,~~116~~047,~~558~~511.2849 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~705~~702,~~140~~608.6140 Credit Risk Manager Fee 10,~~342~~304.3926 Securities Admin. Fee 2,~~758~~747.0283 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~718~~715,~~241~~660.0249

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 ~~226~~303 0 0 0 ~~226~~303 2637,~~344~~981,~~610~~448.0388 0.00 0.00 0.00 2637,~~344~~981,~~610~~448.0388 60 Days 3966 0 0 0 3966 57,~~014~~308,~~309~~546.3798 0.00 0.00 0.00 57,~~014~~308,~~309~~546.3798 90 Days 326 0 0 0 326 ~~277~~3,~~300~~651,267.0018 0.00 0.00 0.00 ~~277~~3,~~300~~651,267.0018 120 Days 03 0 0 0 03 0277,300.00 0.00 0.00 0.00 0277,300.00 150 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 ~~268~~398 0 0 0 ~~268~~398 3149,~~636~~218,~~219~~563.4004 0.00 0.00 0.00 3149,~~636~~218,~~219~~563.4004 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 45.~~017778~~413614% 0.000000% 0.000000% 0.000000% 45.~~017778~~413614% 34.~~194270~~632690% 0.000000% 0.000000% 0.000000% 34.~~194270~~632690% 60 Days 01.~~693333~~179203% 0.000000% 0.000000% 0.000000% 01.~~693333~~179203% 0.~~607982~~891441% 0.000000% 0.000000% 0.000000% 0.~~607982~~891441% 90 Days 0.~~053333~~464535% 0.000000% 0.000000% 0.000000% 0.~~053333~~464535% 0.~~033622~~445354% 0.000000% 0.000000% 0.000000% 0.~~033622~~445354% 120 Days 0.~~000000~~053600% 0.000000% 0.000000% 0.000000% 0.~~000000~~053600% 0.~~000000~~033823% 0.000000% 0.000000% 0.000000% 0.~~000000~~033823% 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 47.~~764444~~110952% 0.000000% 0.000000% 0.000000% 47.~~764444~~110952% 36.~~835875~~003309% 0.000000% 0.000000% 0.000000% 36.~~835875~~003309%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 Arm Loans 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 5455 0 0 0 5455 34,~~904~~704,~~476~~338.5153 0.00 0.00 0.00 34,~~904~~704,~~476~~338.5153 60 Days 10 0 0 0 10 ~~616~~596,~~339~~137.6664 0.00 0.00 0.00 ~~616~~596,~~339~~137.6664 90 Days 05 0 0 0 05 0411,656.0089 0.00 0.00 0.00 0411,656.0089 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 6470 0 0 0 6470 45,~~520~~712,~~816~~133.1706 0.00 0.00 0.00 45,~~520~~712,~~816~~133.1706 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 5.~~070423~~193579% 0.000000% 0.000000% 0.000000% 5.~~070423~~193579% 45.~~366291~~301679% 0.000000% 0.000000% 0.000000% 45.~~366291~~301679% 60 Days 0.~~938967~~944287% 0.000000% 0.000000% 0.000000% 0.~~938967~~944287% 0.~~689239~~671833% 0.000000% 0.000000% 0.000000% 0.~~689239~~671833% 90 Days 0.~~000000~~472144% 0.000000% 0.000000% 0.000000% 0.~~000000~~472144% 0.~~000000~~463928% 0.000000% 0.000000% 0.000000% 0.~~000000~~463928% 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 6.~~009390~~610009% 0.000000% 0.000000% 0.000000% 6.~~009390~~610009% 56.~~055530~~437440% 0.000000% 0.000000% 0.000000% 56.~~055530~~437440% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 Fixed Loan 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 ~~151~~216 0 0 0 ~~151~~216 1726,~~353~~456,~~109~~585.3366 0.00 0.00 0.00 1726,~~353~~456,~~109~~585.3366 60 Days 2051 0 0 0 2051 25,~~228~~188,~~703~~255.3757 0.00 0.00 0.00 25,~~228~~188,~~703~~255.3757 90 Days 015 0 0 0 015 01,616,456.0019 0.00 0.00 0.00 01,616,456.0019 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 ~~171~~282 0 0 0 ~~171~~282 1933,~~581~~261,~~812~~297.7042 0.00 0.00 0.00 1933,~~581~~261,~~812~~297.7042 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 35.~~836382~~511610% 0.000000% 0.000000% 0.000000% 35.~~836382~~511610% 34.~~243515~~966899% 0.000000% 0.000000% 0.000000% 34.~~243515~~966899% 60 Days 01.~~508130~~301352% 0.000000% 0.000000% 0.000000% 01.~~508130~~301352% 0.~~416573~~974031% 0.000000% 0.000000% 0.000000% 0.~~416573~~974031% 90 Days 0.~~000000~~382751% 0.000000% 0.000000% 0.000000% 0.~~000000~~382751% 0.~~000000~~303470% 0.000000% 0.000000% 0.000000% 0.~~000000~~303470% 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 47.~~344512~~195713% 0.000000% 0.000000% 0.000000% 47.~~344512~~195713% 36.~~660088~~244400% 0.000000% 0.000000% 0.000000% 36.~~660088~~244400% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 Arm Loans 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 1,~~053~~025,~~036~~676.4694 0.00 0.00 0.00 1,~~053~~025,~~036~~676.4694 60 Days 12 0 0 0 12 97125,~~500~~006.0021 0.00 0.00 0.00 97125,~~500~~006.0021 90 Days 1 0 0 0 1 4997,~~000~~500.00 0.00 0.00 0.00 4997,~~000~~500.00 120 Days 01 0 0 0 01 049,000.00 0.00 0.00 0.00 049,000.00 150 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 1214 0 0 0 1214 1,~~199~~297,~~536~~183.4615 0.00 0.00 0.00 1,~~199~~297,~~536~~183.4615 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 7.142857% 0.000000% 0.000000% 0.000000% 7.142857% 3.~~948421~~849001% 0.000000% 0.000000% 0.000000% 3.~~948421~~849001% 60 Days 01.~~714286~~428571% 0.000000% 0.000000% 0.000000% 01.~~714286~~428571% 0.~~365582~~469104% 0.000000% 0.000000% 0.000000% 0.~~365582~~469104% 90 Days 0.714286% 0.000000% 0.000000% 0.000000% 0.714286% 0.~~183728~~365883% 0.000000% 0.000000% 0.000000% 0.~~183728~~365883% 120 Days 0.~~000000~~714286% 0.000000% 0.000000% 0.000000% 0.~~000000~~714286% 0.~~000000~~183880% 0.000000% 0.000000% 0.000000% 0.~~000000~~183880% 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 810.~~571429~~000000% 0.000000% 0.000000% 0.000000% 810.~~571429~~000000% 4.~~497731~~867867% 0.000000% 0.000000% 0.000000% 4.~~497731~~867867% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 4 Fixed Loan 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 1122 0 0 0 1122 45,~~033~~794,~~987~~847.7375 0.00 0.00 0.00 45,~~033~~794,~~987~~847.7375 60 Days 83 0 0 0 83 21,~~071~~399,~~766~~147.3456 0.00 0.00 0.00 21,~~071~~399,~~766~~147.3456 90 Days 25 0 0 0 25 ~~228~~1,~~300~~525,654.0010 0.00 0.00 0.00 ~~228~~1,~~300~~525,654.0010 120 Days 02 0 0 0 02 0228,300.00 0.00 0.00 0.00 0228,300.00 150 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 2132 0 0 0 2132 68,~~334~~947,~~054~~949.0741 0.00 0.00 0.00 68,~~334~~947,~~054~~949.0741 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 24.~~272727~~592902% 0.000000% 0.000000% 0.000000% 24.~~272727~~592902% 23.~~323144~~372659% 0.000000% 0.000000% 0.000000% 23.~~323144~~372659% 60 Days 10.~~652893~~626305% 0.000000% 0.000000% 0.000000% 10.~~652893~~626305% 10.~~193115~~814318% 0.000000% 0.000000% 0.000000% 10.~~193115~~814318% 90 Days 01.~~413223~~043841% 0.000000% 0.000000% 0.000000% 01.~~413223~~043841% 0.~~131476~~887946% 0.000000% 0.000000% 0.000000% 0.~~131476~~887946% 120 Days 0.~~000000~~417537% 0.000000% 0.000000% 0.000000% 0.~~000000~~417537% 0.~~000000~~132873% 0.000000% 0.000000% 0.000000% 0.~~000000~~132873% 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 46.~~338843~~680585% 0.000000% 0.000000% 0.000000% 46.~~338843~~680585% 35.~~647736~~207796% 0.000000% 0.000000% 0.000000% 35.~~647736~~207796%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~246~~388,~~938~~270.7371

COLLATERAL STATEMENT Collateral Description Fixed Mixed & 6 Month LIBOR Weighted Average Gross Coupon 8.~~798114~~796730% Weighted Average Net Coupon 7.~~775418~~773937% Weighted Average Pass-Through Rate 7.~~771419~~769937% Weighted Average Maturity(Stepdown Calculation ) ~~353~~352 Beginning Scheduled Collateral Loan Count 5,~~642~~625 Number Of Loans Paid In Full 1728 Ending Scheduled Collateral Loan Count 5,~~625~~597 Beginning Scheduled Collateral Balance ~~827~~824,~~391~~340,~~137~~813.0069 Ending Scheduled Collateral Balance ~~824~~819,~~340~~394,~~813~~705.6960 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~824~~819,~~745~~857,~~810~~269.5524 Monthly P &I Constant 6,~~586~~566,~~550~~069.1130 Special Servicing Fee 0.00 Prepayment Penalties ~~149~~58,~~537~~483.2275 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~824~~819,~~340~~394,~~813~~705.6960 Scheduled Principal ~~520~~523,~~315~~149.4266 Unscheduled Principal 24,~~530~~422,~~008~~958.1343 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.2400 Specified O/C Amount 3,310,137.00 Overcollateralized Amount 3,310,137.00 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 2,~~404~~325,~~195~~026.3690

~~Group~~Libor ~~Level Collateral Statement Group Group~~ 1 ~~Arm Loans Group 2 Fixed Loan Group 3 Arm Loans Collateral Description 6 Month LIBOR ARM Fixed 30 Year 6 Month LIBOR ARM Weighted Average Coupon Rate 9~~.~~238713~~83000% ~~8.899641~~PMI ~~8.642715~~Payment ~~Weighted Average Net Rate 8.464862 7.768445 8.079508 Weighted Average Maturity 353 353 353 Beginning Loan Count 1~~$333,~~067 3,949 141 Loans Paid In Full 2 13 1 Ending Loan Count 1,065 3,936 140 Beginning Scheduled Balance 89,598,814~~054.64 536,993,294.27 26,747,960.25 Ending scheduled Balance 89,374,523.27 534,764,014.65 26,654,565.97 Record Date 09/30/2002 09/30/2002 09/30/2002 Principal And Interest Constant 764,083.42 4,294,935.82 212,842.83 Scheduled Principal 74,268.62 312,396.10 20,197.00 Unscheduled Principal 150,022.75 1,916,883.52 73,197.28 Scheduled Interest 689,814.80 3,982,539.72 192,645.83 Servicing Fees 57,780.13 506,204.14 12,553.87 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 298.68 1,790.01 89.16 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 631,735.99 3,474,545.57 180,002.80 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 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 8.460862 7.764445 8.075508

Group Level Collateral Statement Group Group 41 Arm Loans Group 2 Fixed Loan ~~Total~~Group 3 Arm Loans Collateral Description ~~Fixed~~6 30Month ~~Year~~LIBOR ARM Fixed ~~Mixed~~30 &Year 6 ~~Mont~~Month LIBOR ARM Weighted Average Coupon Rate 9.237808 8.~~281944~~898374 8.~~798114~~636182 Weighted Average Net Rate 78.~~395291~~464775 7.~~775418~~765840 8.072800 Weighted Average Maturity ~~353~~352 ~~353~~352 352 Beginning Loan Count ~~485~~1,065 53,~~642~~936 140 Loans Paid In Full 16 17 0 Ending Loan Count ~~484~~1,059 53,~~625~~919 140 Beginning Scheduled Balance ~~174~~89,~~051~~374,~~068~~523.0827 ~~827~~534,~~391~~764,~~137~~014.2465 26,654,565.97 Ending scheduled Balance ~~173~~88,~~547~~678,~~709~~360.8042 ~~824~~532,~~340~~372,~~813~~380.6944 26,632,388.39 Record Date 0910/3031/2002 0910/3031/2002 10/31/2002 Principal And Interest Constant 1762,~~314,688~~930.0412 64,~~586~~279,~~550~~250.1160 212,174.27 Scheduled Principal ~~113~~74,~~453~~909.7056 ~~520~~313,~~315~~808.4281 20,346.21 Unscheduled Principal ~~389~~621,~~904~~253.5829 2,~~530~~077,~~008~~825.1340 1,831.37 Scheduled Interest 1688,~~201,234~~020.3456 63,~~066~~965,~~234~~441.6979 191,828.06 Servicing Fees ~~128~~57,~~602~~574.4751 ~~705~~504,~~140~~698.6177 12,513.90 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 ~~580~~297.1792 21,~~758~~782.0255 88.85 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 1630,~~072,051~~148.7013 53,~~358~~458,~~336~~960.0647 179,225.31 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 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 78.~~391291~~460775 7.~~771419~~761840 8.068800

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERT SER 2002-BC7