8-K 1 msh02001.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 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 November 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 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. 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: 12/4/02 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 November 25, 2002 distribution.

Morgan Stanley Dean Witter Credit Corp HELOC Trust Mortgage Pass-Through Certificates Record Date: ~~9/30/02~~ 10/2531/02 Distribution Date: 11/25/02 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.~~16375~~18000% ~~471~~470,~~420~~585,~~437~~200.3250 ~~850~~883,~~029~~393.9800 ~~855~~5,~~120~~054,434.1678 Cert MSH02CERT SUB 0.00000% 011,993,129.0011 045,499.0037 0106,602.0039 OC OC 0.00000% ~~813~~1,~~042~~648,279.6042 0.00 0.00 Totals ~~472~~484,~~233~~226,~~479~~609.9203 ~~850~~928,~~029~~892.9837 ~~855~~5,~~120~~161,037.1617

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses Note 0.00 ~~470~~465,~~565~~530,~~317~~765.1672 15,~~705~~937,~~150~~827.1478 0.00 Cert 0.00 011,886,526.0072 0152,101.0076 0.00 OC ~~14,236~~0.3700 12,~~668~~505,~~162~~209.7632 0.00 ~~14,236~~0.3700 Totals ~~14,236~~0.3700 ~~472~~479,~~233~~922,~~479~~501.9276 16,~~705~~089,~~150~~929.1454 ~~14,236~~0.3700 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 ~~471~~470,~~420~~585,~~437~~200.3250 0.00 ~~855~~5,~~120~~054,434.1678 0.00 0.00 Cert 0.00 011,993,129.0011 0.00 0106,602.0039 0.00 0.00 OC 479.92 ~~813~~1,~~042~~648,279.6042 0.00 0.00 0.00 ~~14,236~~0.3700 Totals 472,233,479.92 ~~472~~484,~~233~~226,~~479~~609.9203 0.00 ~~855~~5,~~120~~161,037.1617 0.00 ~~14,236~~0.3700 (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 ~~855~~5,~~120~~054,434.1678 ~~470~~465,~~565~~530,~~317~~765.1672 0.~~99646852~~98580736 ~~855~~5,~~120~~054,434.1678 Cert 0106,602.0039 011,886,526.0072 0.00000000 0106,602.0039 OC ~~14,236~~0.3700 12,~~668~~505,~~162~~209.7632 35,~~475~~220.~~91840307~~05609268 0.00 Totals ~~869~~5,~~356~~161,037.5317 ~~472~~479,~~233~~922,~~479~~501.9276 1.~~00000000~~01628225 ~~855~~5,~~120~~161,037.1617

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion Note 472,233,000.00 ~~998~~996.~~27931830~~51062188 0.00000000 110.~~81080136~~70326466 0.00000000 Cert 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 479.92 ~~1694121~~3434487.~~10351725~~87297883 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 110.~~81080136~~70326466 ~~996~~985.~~46851694~~80735722 0.~~99646852~~98580736 110.~~81080136~~70326466 Cert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC ~~29,664~~0.~~04817470~~00000000 ~~29,664~~0.~~04817470~~00000000 35,~~475~~220,~~918~~056.~~4030671~~09268211 ~~3475~~5220.~~91840307~~05609268 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.~~16375~~18000% ~~471~~470,~~420~~585,~~437~~200.3250 ~~850~~883,~~029~~393.9800 0.00 0.00 Cert 0.00 0.00000% 011,993,129.0011 0.00 0.00 0.00 OC 479.92 0.00000% ~~813~~1,~~042~~648,279.6042 0.00 0.00 0.00 Totals 472,233,479.92 ~~850~~883,~~029~~393.9800 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 ~~850~~883,~~029~~393.9800 0.00 ~~470~~465,~~565~~530,~~317~~765.1672 Cert 0.00 0.00 045,499.0037 0.00 011,886,526.0072 OC 0.00 0.00 0.00 0.00 12,~~668~~505,~~162~~209.7632 Totals 0.00 0.00 ~~850~~928,~~029~~892.9837 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.~~16375~~18000% ~~998~~996.~~27931830~~51062188 1.~~80002240~~87067189 0.00000000 0.00000000 Cert 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 479.92 0.00000% ~~1694121~~3434487.~~10351725~~87297883 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.~~80002240~~87067189 0.00000000 ~~996~~985.~~46851694~~80735722 Cert 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 ~~3475918~~5220056.~~40306718~~09268211 (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 16,~~952~~343,~~739~~291.5064 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 16,~~952~~343,~~739~~291.5064 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~247~~253,~~589~~362.3610 Payment of Interest and Principal 16,~~705~~089,~~150~~929.1454 Total Withdrawals (Pool Distribution Amount) 16,~~952~~343,~~739~~291.5064 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~196~~202,~~268~~132.8104 Credit Enhancer Premium 5150,~~070~~980.5506 Owner Trustee Fee 250.00 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~247~~253,~~589~~362.3610

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty ~~717,158~~0.0100 0.00 ~~717~~787,~~158~~605.0127 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 1110 4 01 0 15 1879,~~052,009~~014.4695 ~~568~~559,~~206~~364.6286 029,245.0055 0.00 1,~~620~~467,~~216~~625.0836 60 Days 34 0 0 0 34 ~~115~~116,~~142~~343.9268 0.00 0.00 0.00 ~~115~~116,~~142~~343.9268 90 Days 02 0 0 0 02 078,550.0055 0.00 0.00 0.00 078,550.0055 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 1416 4 01 0 1821 1,~~167~~073,~~152~~909.3818 ~~568~~559,~~206~~364.6286 029,245.0055 0.00 1,~~735~~662,~~359~~519.0059 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.~~151140~~142066% 0.~~054960~~056826% 0.~~000000~~014207% 0.000000% 0.~~206101~~213098% 0.~~222773~~183158% 0.~~120323~~116553% 0.~~000000~~006094% 0.000000% 0.~~343096~~305805% 60 Days 0.~~041220~~056826% 0.000000% 0.000000% 0.000000% 0.~~041220~~056826% 0.~~024383~~024242% 0.000000% 0.000000% 0.000000% 0.~~024383~~024242% 90 Days 0.~~000000~~028413% 0.000000% 0.000000% 0.000000% 0.~~000000~~028413% 0.~~000000~~016367% 0.000000% 0.000000% 0.000000% 0.~~000000~~016367% 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.~~192361~~227305% 0.~~054960~~056826% 0.~~000000~~014207% 0.000000% 0.~~247321~~298338% 0.~~247156~~223767% 0.~~120323~~116553% 0.~~000000~~006094% 0.000000% 0.~~367479~~346414%

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 45.~~998314~~053463% Weighted Average Net Coupon 4.~~499572~~552544% Weighted Average Pass-Through Rate 4.~~369160~~425586% Weighted Average Maturity(Stepdown Calculation ) 0 Beginning Scheduled Collateral Loan Count 7,~~368~~278 Number Of Loans Paid In Full 90239 Ending Scheduled Collateral Loan Count 7,~~278~~039 Beginning Scheduled Collateral Balance ~~472~~484,~~233~~226,~~479~~609.9203 Ending Scheduled Collateral Balance ~~472~~479,~~233~~922,~~479~~501.9276 Ending Actual Collateral Balance at 3031-~~Sep~~Oct-2002 ~~472~~479,~~233~~922,~~479~~501.9276 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 $04,304,107.0027 Interest Collections $1,~~756~~837,~~470~~052.6833 Investor P & I Collections $15,~~756~~989,~~470~~057.6884 Substitute Adjustment Amount $0.00 Current Period Additional Balances $2021,~~090~~442,~~196~~255.9743 Credit Enhancement Draw Amount $0.00 Aggregate Unreimbursed Credit Enhancement $0.00 Sum of the Three Largest Loan Balances $98,~~564~~164,~~911~~711.97 Required Overcollateralization Amount $7,098,124.78

Filing Compare · MSDWCC HELOC TRUST 2002-1