8-K 1 bsa01ac2.txt DECEMBER 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): December 26, 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 December 26, 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 Mortgage Asset-Backed Certificates, Series 2001-AC2 Trust, relating to the December 26, 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: 1/7/03 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 December 26, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Asset~~Mortgage Pass-~~Backed~~Through Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 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 21.~~08000~~63000% 145,~~933~~773,~~312~~027.0520 268,~~747~~103.2209 95,~~160~~773,~~284~~027.8520 I-A2 07384YAY2 SEN 4.91000% 62,927,000.00 257,476.31 03,373,293.0032 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 21.~~43000~~98000% ~~104~~87,~~933~~897,~~977~~560.4501 ~~212~~145,~~491~~030.3097 1714,~~036~~897,~~417~~396.4456 II-INV 07384YBE5 SEN 56.~~57000~~02000% 0.00 ~~487~~440,~~068~~952.5576 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% 26,381,000.00 141,797.8887 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 44,589.3837 0.00 B-IO BSAAC2BIO IO 0.00000% 1,849,617.39 ~~450~~329,~~298~~264.4585 0.00 P BSA01AC2P SUB 0.00000% 100.00 21,~~298~~781.6584 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 ~~338~~312,~~707~~510,~~006~~304.8960 2,~~361~~108,~~796~~026.9628 2624,~~196~~043,~~702~~717.2908

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 ~~5,773,027~~0.2000 95,~~187~~781,~~032~~130.0729 0.00 I-A2 0.00 6259,~~927~~553,~~000~~706.0068 ~~257~~3,~~476~~630,769.3163 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 8773,~~897~~000,~~560~~163.0145 1715,~~248~~042,~~908~~427.7453 0.00 II-INV 0.00 0.00 ~~487~~440,~~068~~952.5576 0.00 II-A-2 0.00 37,290,000.00 180,856.50 0.00 II-A-3 0.00 26,381,000.00 141,797.8887 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 44,589.3837 0.00 B-IO 0.00 1,849,617.39 ~~450~~329,~~298~~264.4585 0.00 P 0.00 100.00 21,~~298~~781.6584 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 ~~312~~288,~~510~~466,~~304~~587.6052 2826,~~558~~151,~~499~~743.2536 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 67,637,000.00 145,~~933~~773,~~312~~027.0520 0.00 95,~~160~~773,~~284~~027.8520 0.00 0.00 I-A2 62,927,000.00 62,927,000.00 0.00 03,373,293.0032 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 ~~104~~87,~~933~~897,~~977~~560.4501 0.00 1714,~~036~~897,~~417~~396.4456 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 ~~338~~312,~~707~~510,~~006~~304.8960 0.00 2624,~~196~~043,~~702~~717.2908 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 ~~9,160,284.85~~ 5,773,027.20 0.~~08535309~~00 90.00000000 5,~~160~~773,~~284~~027.8520 I-A2 03,373,293.0032 6259,~~927~~553,~~000~~706.0068 10.~~00000000~~94639355 03,373,293.0032 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 1714,~~036~~897,~~417~~396.4456 8773,~~897~~000,~~560~~163.0145 0.~~36047967~~29938345 1714,~~036~~897,~~417~~396.4456 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 2624,~~196~~043,~~702~~717.2908 ~~312~~288,~~510~~466,~~304~~587.6052 0.~~59135801~~54586049 2624,~~196~~043,~~702~~717.2908

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 ~~220~~85.~~78613850~~35309372 0.00000000 ~~135~~85.~~43304478~~35309372 0.00000000 I-A2 62,927,000.00 1000.00000000 0.00000000 053.~~00000000~~60645383 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 ~~430~~360.~~34829885~~47966867 0.00000000 6961.~~86863018~~09621900 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.~~454545~~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 ~~135.43304478~~ 85.35309372 0.~~08535309~~00000000 ~~135~~0.~~43304478~~00000000 85.35309372 I-A2 0.00000000 053.~~00000000~~60645383 ~~1,000~~946.~~00000000~~39354617 10.~~00000000~~94639355 053.~~00000000~~60645383 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 6961.~~86863018~~09621900 ~~360~~299.~~47966867~~38344967 0.~~36047967~~29938345 6961.~~86863018~~09621900 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.~~45454~~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 21.~~08000~~63000% 145,~~933~~773,~~312~~027.0520 268,~~747~~103.2209 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 21.~~43000~~98000% ~~104~~87,~~933~~897,~~977~~560.4501 ~~212~~145,~~491~~030.3097 0.00 0.00 II-INV 0.00 56.~~57000~~02000% ~~104~~87,~~933~~897,~~977~~560.4501 ~~487~~440,~~068~~952.5576 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 1,~~909~~776,~~199~~979.8661 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 0.00 268,~~747~~103.2209 0.00 ~~5,773,027~~0.2000 I-A2 0.00 0.00 257,476.31 0.00 6259,~~927~~553,~~000~~706.0068 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 ~~212~~145,~~491~~030.3097 0.00 8773,~~897~~000,~~560~~163.0145 II-INV 0.00 0.00 ~~487~~440,~~068~~952.5576 0.00 8773,~~897~~000,~~560~~163.0145 II-A-2 0.00 0.00 180,856.50 0.00 37,290,000.00 II-A-3 0.00 0.00 141,797.8887 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 44,589.3837 0.00 7,927,000.00 B-IO 0.00 0.00 ~~450~~329,~~298~~264.4585 0.00 1,849,617.39 P 0.00 0.00 21,~~298~~781.6584 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,~~361~~108,~~796~~026.9628 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 21.~~08000~~63000% ~~220~~85.~~78613850~~35309372 0.~~39545249~~11980262 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 21.~~43000~~98000% ~~430~~360.~~34829885~~47966867 0.~~87145529~~59479144 0.00000000 0.00000000 II-INV 0.00 56.~~57000~~02000% ~~430~~360.~~34829885~~47966867 1.~~99753337~~80840634 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.~~4545454~~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.~~39545249~~11980262 0.00000000 850.~~35309372~~00000000 I-A2 0.00000000 0.00000000 4.09166669 0.00000000 ~~1000~~946.~~00000000~~39354617 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 0.~~87145529~~59479144 0.00000000 ~~360~~299.~~47966867~~38344967 II-INV 0.00000000 0.00000000 1.~~99753337~~80840634 0.00000000 ~~360~~299.~~47966867~~38344967 II-A-2 0.00000000 0.00000000 4.85000000 0.00000000 1000.00000000 II-A-3 0.00000000 0.00000000 5.~~37500019~~37499981 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.~~62500063~~62499937 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~40936222~~29933168.~~7272727~~18181818 0.00000000 168147035.45454544 P 0.00000000 0.00000000 ~~22986~~17818.~~50000000~~40000000 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 2826,~~488~~098,~~196~~443.2472 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~175~~180,~~039~~814.9915 Realized Losses 0(30,334.0044) Prepayment Penalties 0.00 Total Deposits 2826,~~663~~248,~~236~~923.2343 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~104~~97,~~736~~180.9807 Payment of Interest and Principal 2826,~~558~~151,~~499~~743.2536 Total Withdrawals (Pool Distribution Amount) 2826,~~663~~248,~~236~~923.2343 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~101~~94,~~914~~575.4582 Trustee Fee 2,~~822~~604.5325 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~104~~97,~~736~~180.9807

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 ~~123~~239,~~221~~241.0228 0.00 0.00 ~~123~~239,~~221~~241.0228 30 Days 2823 0 1 0 024 29 4,~~761~~739,~~820~~008.7936 ~~316,576.40~~ 0.00 200,332.70 0.00 54,~~078~~939,~~397~~341.1906 60 Days 1520 01 0 0 1521 3,~~909~~926,~~683~~235.6913 0316,364.0044 0.00 0.00 34,~~909~~242,~~683~~599.6957 90 Days 811 10 30 0 1211 12,~~448~~534,~~333~~959.3346 ~~122,274~~0.00 ~~432,012~~0.4300 0.00 2,~~002~~534,~~619~~959.7646 120 Days 4 10 45 0 9 ~~814~~589,~~244~~152.9565 ~~123,902~~0.2600 ~~630~~1,~~884~~060,871.7434 0.00 1,~~569~~650,~~031~~023.9599 150 Days 12 12 85 0 109 ~~137~~450,~~402~~162.2219 ~~134~~256,~~257~~620.7886 1733,~~460,298~~844.1389 0.00 1,~~731~~440,~~958~~627.1394 180+ Days 104 12 2225 46 37 1648,~~730,978~~386.9506 ~~296~~668,~~965~~275.7771 45,~~878~~247,~~408~~032.5087 1,~~037~~303,~~535~~114.7276 7,~~943~~866,~~888~~809.9440 Totals 6664 67 3736 46 113 12,~~802~~887,~~463~~903.9385 1,~~117~~480,~~197~~502.2329 7,~~401~~242,~~603~~081.80 1,~~037~~303,~~535~~114.7276 22,~~358~~913,~~800~~602.6870 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.~~068213~~146199% 0.000000% 0.000000% 0.~~068213~~146199% 0.~~039408~~082891% 0.000000% 0.000000% 0.~~039408~~082891% 30 Days 1.~~909959~~681287% 0.~~068213~~000000% 0.~~000000~~073099% 0.000000% 1.~~978172~~754386% 1.~~522895~~641948% 0.~~101245~~000000% 0.~~000000~~069410% 0.000000% 1.~~624140~~711358% 60 Days 1.~~023192~~461988% 0.~~000000~~073099% 0.000000% 0.000000% 1.~~023192~~535088% 1.~~250370~~360342% 0.~~000000~~109612% 0.000000% 0.000000% 1.~~250370~~469955% 90 Days 0.~~545703~~804094% 0.~~068213~~000000% 0.~~204638~~000000% 0.000000% 0.~~818554~~804094% 0.~~463197~~878300% 0.~~039105~~000000% 0.~~138163~~000000% 0.000000% 0.~~640465~~878300% 120 Days 0.~~272851~~292398% 0.~~068213~~000000% 0.~~272851~~365497% 0.000000% 0.~~613915~~657895% 0.~~260407~~204127% 0.~~039626~~000000% 0.~~201765~~367565% 0.000000% 0.~~501798~~571692% 150 Days 0.~~068213~~146199% 0.~~068213~~146199% 0.~~545703~~365497% 0.000000% 0.~~682128~~657895% 0.~~043943~~155970% 0.~~042937~~088913% 0.~~467023~~254259% 0.000000% 0.~~553904~~499142% 180+ Days 0.~~682128~~292398% 0.~~068213~~146199% 1.~~500682~~827485% 0.~~272851~~438596% 2.~~523874~~704678% 0.~~553591~~224650% 0.~~094974~~231541% 1.~~560181~~817965% 0.~~331818~~451497% 2.~~540563~~725652% Totals 4.~~502046~~678363% 0.~~409277~~511696% 2.~~523874~~631579% 0.~~272851~~438596% 78.~~708049~~260234% 4.~~094402~~465336% 0.~~357295~~512957% 2.~~367133~~509200% 0.~~331818~~451497% 7.~~150648~~938990% Delinquencies are stratified according to the information provided by the 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 12 0 0 12 ~~123~~239,~~221~~241.0228 0.00 0.00 ~~123~~239,~~221~~241.0228 30 Days 2117 0 01 0 2118 2,~~229~~152,~~759~~043.9152 0.00 0200,332.0070 0.00 2,~~229~~352,~~759~~376.9122 60 Days 713 0 0 0 713 1,~~039~~489,~~106~~231.4618 0.00 0.00 0.00 1,~~039~~489,~~106~~231.4618 90 Days 7 10 30 0 117 ~~980~~966,~~851~~055.4124 ~~122,274~~0.00 ~~432,012~~0.4300 0.00 1966,~~535,137~~055.8424 120 Days 34 10 4 0 8 ~~499~~589,~~495~~152.5765 ~~123,902~~0.2600 ~~630~~593,~~884~~728.7477 0.00 1,~~254~~182,~~282~~881.5742 150 Days 1 12 65 0 8 ~~137~~136,~~402~~681.2289 ~~134~~256,~~257~~620.7886 ~~792~~733,~~722~~844.7889 0.00 1,~~064~~127,~~382~~147.7864 180 Days 93 0 1619 23 2725 1318,~~401,306~~899.5618 0.00 2,~~377~~861,~~849~~544.46 ~~297~~155,~~803~~569.0972 43,~~076~~336,~~959~~013.1136 Totals 4845 4 29 23 8381 65,~~287~~652,~~922~~063.1366 ~~503~~495,~~655~~862.0614 4,~~233~~389,~~469~~450.4182 ~~297~~155,~~803~~569.0972 1110,~~322~~692,~~849~~946.6934 0-29 Days 0.~~098522~~208768% 0.000000% 0.000000% 0.~~098522~~208768% 0.~~087462~~181637% 0.000000% 0.000000% 0.~~087462~~181637% 30 Days 21.~~068966~~774530% 0.000000% 0.~~000000~~104384% 0.000000% 21.~~068966~~878914% 1.~~582686~~633875% 0.000000% 0.~~000000~~152097% 0.000000% 1.~~582686~~785972% 60 Days 01.~~689655~~356994% 0.000000% 0.000000% 0.000000% 01.~~689655~~356994% 01.~~737559~~130655% 0.000000% 0.000000% 0.000000% 01.~~737559~~130655% 90 Days 0.~~689655~~730689% 0.~~098522~~000000% 0.~~295567~~000000% 0.000000% 10.~~083744~~730689% 0.~~696209~~733449% 0.~~086790~~000000% 0.~~306643~~000000% 0.000000% 10.~~089642~~733449% 120 Days 0.~~295567~~417537% 0.~~098522~~000000% 0.~~394089~~417537% 0.000000% 0.~~788177~~835073% 0.~~354542~~447297% 0.~~087946~~000000% 0.~~447803~~450771% 0.000000% 0.~~890291~~898068% 150 Days 0.~~098522~~104384% 0.~~098522~~208768% 0.~~591133~~521921% 0.000000% 0.~~788177~~835073% 0.~~097528~~103772% 0.~~095296~~194832% 0.~~562675~~557150% 0.000000% 0.~~755500~~855753% 180 Days 0.~~886700~~313152% 0.000000% 1.~~576355~~983299% 0.~~197044~~313152% 2.~~660099~~609603% 0.~~994649~~242115% 0.000000% 12.~~687800~~172543% 0.~~211381~~118112% 2.~~893829~~532769% Totals 4.~~729064~~697286% 0.~~394089~~417537% 23.~~857143~~027140% 0.~~197044~~313152% 8.~~177340~~455115% 4.~~463173~~291162% 0.~~357495~~376469% 3.~~004920~~332560% 0.~~211381~~118112% 8.~~036969~~118302% 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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 76 10 0 0 86 2,~~532~~586,~~060~~964.8884 ~~316,576~~0.4000 0.00 0.00 2,~~848~~586,~~637~~964.2884 60 Days 87 01 0 0 8 2,~~870~~437,~~577~~003.2395 0316,364.0044 0.00 0.00 2,~~870~~753,~~577~~368.2339 90 Days 14 0 0 0 14 ~~467~~1,~~481~~568,904.9222 0.00 0.00 0.00 ~~467~~1,~~481~~568,904.9222 120 Days 1 0 0 1 0 1 ~~314,749.38~~ 0.00 0.00 467,142.57 0.00 ~~314~~467,~~749~~142.3857 150 Days 1 0 0 2 0 21 313,480.30 0.00 0.00 ~~667,575.35~~ 0.00 ~~667~~313,~~575~~480.3530 180 Days 1 12 6 23 1012 329,~~672~~486.3988 ~~296~~668,~~965~~275.7771 2,~~500~~385,~~559~~488.0441 ~~739~~1,~~732~~147,545.6304 34,~~866~~530,~~929~~796.8304 Totals 1819 23 87 23 3032 67,~~514~~235,~~541~~840.8019 ~~613~~984,~~542~~640.1715 32,~~168~~852,~~134~~630.3998 ~~739~~1,~~732~~147,545.6304 1112,~~035~~220,~~950~~656.9936 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~552106~~463415% 0.~~221729~~000000% 0.000000% 0.000000% 1.~~773836~~463415% 1.~~473863~~648724% 0.~~184273~~000000% 0.000000% 0.000000% 1.~~658136~~648724% 60 Days 1.~~773836~~707317% 0.~~000000~~243902% 0.000000% 0.000000% 1.~~773836~~951220% 1.~~670907~~553151% 0.~~000000~~201625% 0.000000% 0.000000% 1.~~670907~~754776% 90 Days 0.~~221729~~975610% 0.000000% 0.000000% 0.000000% 0.~~221729~~975610% 0.~~272112~~999894% 0.000000% 0.000000% 0.000000% 0.~~272112~~999894% 120 Days 0.~~221729~~000000% 0.000000% 0.~~000000~~243902% 0.000000% 0.~~221729~~243902% 0.~~183209~~000000% 0.000000% 0.~~000000~~297719% 0.000000% 0.~~183209~~297719% 150 Days 0.~~000000~~243902% 0.000000% 0.~~443459~~000000% 0.000000% 0.~~443459~~243902% 0.~~000000~~199787% 0.000000% 0.~~388582~~000000% 0.000000% 0.~~388582~~199787% 180 Days 0.~~221729~~243902% 0.~~221729~~487805% 1.~~330377~~463415% 0.~~443459~~731707% 2.~~217295~~926829% 0.~~191896~~209989% 0.~~172858~~425905% 1.~~455526~~520319% 0.~~430584~~731353% 2.~~250864~~887566% Totals 34.~~991131~~634146% 0.~~443459~~731707% 1.~~773836~~707317% 0.~~443459~~731707% 67.~~651885~~804878% 34.~~791987~~611545% 0.~~357131~~627531% 1.~~844109~~818038% 0.~~430584~~731353% 67.~~423810~~788467%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~175~~180,~~039~~814.9915

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~632880~~641204% Weighted Average Net Coupon 8.~~271809~~278044% Weighted Average Pass-Through Rate 8.~~261809~~268045% Weighted Average Maturity(Stepdown Calculation ) ~~326~~325 Beginning Scheduled Collateral Loan Count 1,~~555~~466 Number Of Loans Paid In Full 8998 Ending Scheduled Collateral Loan Count 1,~~466~~368 Beginning Scheduled Collateral Balance ~~338~~312,~~707~~510,~~006~~304.8960 Ending Scheduled Collateral Balance ~~312~~288,~~510~~466,~~304~~587.6052 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~312~~288,~~682~~621,~~176~~148.7625 Monthly P &I Constant 2,~~657~~452,~~978~~074.7704 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 030,334.0044 Cumulative Realized Loss 738,~~893~~228.6408 Ending Scheduled Balance for Premium Loans ~~312~~288,~~510~~466,~~304~~587.6052 Scheduled Principal ~~232~~216,~~291~~533.4627 Unscheduled Principal 2523,~~964~~827,~~410~~183.8381 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 030,334.0044 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,849,617.39 Overcollateralized Amount 1,849,617.39 Overcollateralized Deficiency Amount 030,334.0044 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 030,334.0044 Excess Cash Amount ~~452~~361,~~597~~381.1012

Miscellaneous Reporting 3 Month Rolling Delinquency Avg 45.~~522723~~342966%

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 98.~~067084~~732396 8.~~477648~~462643 8.~~632880~~641204 Weighted Average Net Rate 8.~~720088~~384090 8.~~105391~~087301 8.~~271809~~278044 Weighted Average Maturity ~~316~~315 ~~331~~330 ~~326~~325 Beginning Loan Count 1,~~066~~015 ~~489~~451 1,~~555~~466 Loans Paid In Full 5157 3841 8998 Ending Loan Count ~~1,015~~958 ~~451~~410 1,~~466~~368 Beginning Scheduled Balance ~~149~~140,~~977~~817,~~341~~056.7085 ~~188~~171,~~729~~693,~~665~~247.1975 ~~338~~312,~~707~~510,~~006~~304.8960 Ending scheduled Balance ~~140~~131,~~817~~651,~~056~~941.8523 ~~171~~156,~~693~~814,~~247~~646.7529 ~~312~~288,~~510~~466,~~304~~587.6052 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant 1,~~200~~126,~~025~~289.6039 1,~~457~~325,~~953~~784.1765 2,~~657~~452,~~978~~074.7704 Scheduled Principal ~~107~~101,~~657~~564.9613 ~~124~~114,~~633~~969.5014 ~~232~~216,~~291~~533.4627 Unscheduled Principal 9,~~052~~063,~~626~~551.8949 1614,~~911~~763,~~783~~632.9432 2523,~~964~~827,~~410~~183.8381 Scheduled Interest 1,~~133~~024,~~214~~725.2526 1,~~333~~210,~~319~~815.6751 2,~~466~~235,~~533~~540.9277 Servicing Fees 4340,~~367~~872.9283 5853,~~546~~702.5399 ~~101~~94,~~914~~575.4582 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~249~~173.7947 1,~~572~~430.7478 2,~~822~~604.5325 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 1982,~~088,596~~678.5496 1,~~273~~155,~~200~~681.4074 2,~~361~~138,~~796~~360.9470 Realized Loss Amount 030,334.0044 0.00 030,334.0044 Cumulative Realized Loss 434,~~100~~434.4892 3,793.16 738,~~893~~228.6408 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.~~710088~~374090 8.~~095391~~077301 8.~~261809~~268045

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