8-K 1 bsa02ac2.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 2002-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-43091-12 Pooling and Servicing Agreement) (Commission 02-0606786 (State or other File Number) 01-0698820 jurisdiction IRS EIN 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 December 26, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset-Backed Certificates, Series 2002-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 Asset-Backed Certificates, Series 2002-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 2002-AC2 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: 1/7/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset-Backed Certificates, Series 2002-AC2 Trust, relating to the December 26, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities Asset-Backed Certificates Record Date: 1011/3130/02 Distribution Date: 1112/2526/02 BSA Series: 2002-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-1 07384YDD5 SEN 6.75000% 0.00 0.00 0.00 A-2 07384YDE3 SEN 4.70000% 1913,~~874~~274,~~766~~237.9266 7751,~~791~~809.4435 6,~~600~~810,~~529~~826.2634 A-3 07384YDF0 SEN 21.~~18000~~73000% 2315,~~281~~549,~~869~~820.3393 4222,~~267~~339.4744 7,~~732~~978,~~048~~396.40 A-4 07384YDG8 SEN 6.~~32000~~77000% 0.00 ~~122~~87,~~536~~420.8880 0.00 A-5 07384YDH6 SEN 21.~~33000~~88000% 2321,~~711~~322,~~557~~795.9506 4633,~~009~~289.5415 2,~~388~~464,~~762~~870.8839 A-6 07384YDJ2 SEN 6.~~17000~~62000% 0.00 ~~121~~117,~~836~~220.4230 0.00 A-7 07384YDK9 SEN 6.25000% 99,112,715.00 ~~515~~514,~~871~~410.2081 0.00 A-8 07384YDL7 SEN 0.50000% 0.00 41,~~269~~152.7087 0.00 A-9 07384YDM5 SEN 6.50000% 29,100,000.00 157,~~520~~074.9299 0.00 A-10 07384YDN3 SEN 0.50000% 0.00 12,~~116~~082.9969 0.00 PO 07384YDQ6 PO 0.00000% 1,~~364~~320,~~818~~048.6705 0.00 4495,~~770~~423.6128 X-1 07384YDP8 SEN 0.~~86917~~87567% 0.00 ~~161~~150,~~572~~113.3688 0.00 B-1 07384YDR4 SUB 7.00000% 9,~~406~~399,~~907~~852.9225 54,~~837~~641.4014 7,~~055~~162.6715 B-2 07384YDS2 SUB 7.00000% 5,~~209~~206,~~962~~055.9218 30,~~371~~262.3869 3,~~907~~966.7472 B-3 07384YDT0 SUB 7.00000% 4,~~631~~627,~~067~~593.0955 26,~~996~~900.7210 3,~~473~~525.5496 B-4 07384YDW3 SUB 7.00000% 1,~~736~~735,~~687~~384.5089 10,~~123~~087.9976 1,~~302~~322.6126 B-5 07384YDY9 SUB 7.00000% 2,~~026~~024,~~135~~615.4171 11,~~811~~769.3205 1,~~519~~542.7164 B-6 07384YEA0 SUB 7.00000% 3,~~763~~760,~~536~~713.7186 21,~~939~~860.4795 2,~~822~~865.8545 R-1 07384YDU7 RES 7.00000% 0.00 0.00 0.00 R-2 07384YDV5 RES 7.00000% 0.00 0.00 0.00 Totals ~~223~~206,~~220~~433,~~025~~832.4214 1,~~454~~342,~~873~~435.2097 1617,~~786~~369,~~193~~901.2759

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 0.00 0.00 0.00 A-2 0.00 136,~~274~~463,~~237~~411.6632 6,~~678~~862,~~320~~635.7069 0.00 A-3 0.00 157,~~549~~571,~~820~~424.9353 78,~~774~~000,~~315~~735.8784 0.00 A-4 0.00 0.00 ~~122~~87,~~536~~420.8880 0.00 A-5 0.00 2118,~~322~~857,~~795~~924.0667 2,~~434~~498,~~772~~159.4254 0.00 A-6 0.00 0.00 ~~121~~117,~~836~~220.4230 0.00 A-7 0.00 99,112,715.00 ~~515~~514,~~871~~410.2081 0.00 A-8 0.00 0.00 41,~~269~~152.7087 0.00 A-9 0.00 29,100,000.00 157,~~520~~074.9299 0.00 A-10 0.00 0.00 12,~~116~~082.9969 0.00 PO 0.00 1,~~320~~224,~~048~~624.0578 4495,~~770~~423.6128 0.00 X-1 0.00 0.00 ~~161~~150,~~572~~113.3688 0.00 B-1 0.00 9,~~399~~392,~~852~~690.2509 61,~~893~~803.0729 0.00 B-2 0.00 5,~~206~~202,~~055~~088.1846 34,~~279~~229.1241 0.00 B-3 0.00 4,~~627~~624,~~593~~067.5558 30,~~470~~426.2606 0.00 B-4 0.00 1,~~735~~734,~~384~~062.8963 11,~~426~~410.6002 0.00 B-5 0.00 2,~~024~~023,~~615~~073.7106 13,~~331~~311.0369 0.00 B-6 0.00 3,~~760~~757,~~713~~848.8641 24,~~762~~726.3240 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 0.00 ~~206~~189,~~433~~063,~~832~~930.1453 18,~~241~~712,~~066~~337.4756 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 40,460,000.00 0.00 0.00 0.00 0.00 0.00 A-2 27,775,724.00 1913,~~874~~274,~~766~~237.9266 5753,~~758~~644.2268 6,~~542~~757,~~771~~181.0465 0.00 0.00 A-3 32,537,276.00 2315,~~281~~549,~~869~~820.3393 6762,~~659~~840.6391 7,~~664~~915,~~388~~555.7748 0.00 0.00 A-4 0.00 0.00 0.00 0.00 0.00 0.00 A-5 33,314,285.00 2321,~~711~~322,~~557~~795.9506 2019,~~902~~414.9727 2,~~367~~445,~~859~~456.9113 0.00 0.00 A-6 0.00 0.00 0.00 0.00 0.00 0.00 A-7 99,112,715.00 99,112,715.00 0.00 0.00 0.00 0.00 A-8 0.00 0.00 0.00 0.00 0.00 0.00 A-9 29,100,000.00 29,100,000.00 0.00 0.00 0.00 0.00 A-10 0.00 0.00 0.00 0.00 0.00 0.00 PO 1,505,268.84 1,~~364~~320,~~818~~048.6705 1,~~637~~610.8087 4393,~~132~~812.8141 0.00 0.00 X-1 0.00 0.00 0.00 0.00 0.00 0.00 B-1 9,447,600.00 9,~~406~~399,~~907~~852.9225 7,~~055~~162.6715 0.00 0.00 0.00 B-2 5,232,500.00 5,~~209~~206,~~962~~055.9218 3,~~907~~966.7472 0.00 0.00 0.00 B-3 4,651,100.00 4,~~631~~627,~~067~~593.0955 3,~~473~~525.5496 0.00 0.00 0.00 B-4 1,744,200.00 1,~~736~~735,~~687~~384.5089 1,~~302~~322.6126 0.00 0.00 0.00 B-5 2,034,900.00 2,~~026~~024,~~135~~615.4171 1,~~519~~542.7164 0.00 0.00 0.00 B-6 3,779,816.00 3,~~763~~760,~~536~~713.7186 2,~~822~~865.8545 0.00 0.00 0.00 R-1 50.00 0.00 0.00 0.00 0.00 0.00 R-2 50.00 0.00 0.00 0.00 0.00 0.00 Totals 290,695,484.84 ~~223~~206,~~220~~433,~~025~~832.4214 ~~168~~157,~~040~~895.7491 1617,~~618~~212,~~152~~005.5367 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 0.00 0.00 0.00000000 0.00 A-2 6,~~600~~810,~~529~~826.2634 136,~~274~~463,~~237~~411.6632 0.~~47790789~~23270001 6,~~600~~810,~~529~~826.2634 A-3 7,~~732~~978,~~048~~396.40 157,~~549~~571,~~820~~424.9353 0.~~47790789~~23270001 7,~~732~~978,~~048~~396.40 A-4 0.00 0.00 0.00000000 0.00 A-5 2,~~388~~464,~~762~~870.8839 2118,~~322~~857,~~795~~924.0667 0.~~64004961~~56606122 2,~~388~~464,~~762~~870.8839 A-6 0.00 0.00 0.00000000 0.00 A-7 0.00 99,112,715.00 1.00000000 0.00 A-8 0.00 0.00 0.00000000 0.00 A-9 0.00 29,100,000.00 1.00000000 0.00 A-10 0.00 0.00 0.00000000 0.00 PO 4495,~~770~~423.6128 1,~~320~~224,~~048~~624.0578 0.~~87695169~~81355885 4495,~~770~~423.6128 X-1 0.00 0.00 0.00000000 0.00 B-1 7,~~055~~162.6715 9,~~399~~392,~~852~~690.2509 0.~~99494604~~99418795 7,~~055~~162.6715 B-2 3,~~907~~966.7472 5,~~206~~202,~~055~~088.1846 0.~~99494604~~99418795 3,~~907~~966.7472 B-3 3,~~473~~525.5496 4,~~627~~624,~~593~~067.5558 0.~~99494605~~99418795 3,~~473~~525.5496 B-4 1,~~302~~322.6126 1,~~735~~734,~~384~~062.8963 0.~~99494604~~99418795 1,~~302~~322.6126 B-5 1,~~519~~542.7164 2,~~024~~023,~~615~~073.7106 0.~~99494605~~99418795 1,~~519~~542.7164 B-6 2,~~822~~865.8545 3,~~760~~757,~~713~~848.8641 0.~~99494628~~99418819 2,~~822~~865.8545 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 Totals 1617,~~786~~369,~~193~~901.2759 ~~206~~189,~~433~~063,~~832~~930.1453 0.~~71013773~~65038482 1617,~~786~~369,~~193~~901.2759

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 40,460,000.00 0.00000000 0.00000000 0.00000000 0.00000000 A-2 27,775,724.00 ~~715~~477.~~54451362~~90789036 21.~~07944967~~93135128 ~~235~~243.~~55717360~~27652629 0.00000000 A-3 32,537,276.00 ~~715~~477.~~54451362~~90789032 21.~~07944974~~93135129 ~~235~~243.~~55717356~~27652628 0.00000000 A-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-5 33,314,285.00 ~~711~~640.~~75347002~~04960815 0.~~62744765~~58276112 7173.~~07641392~~40563155 0.00000000 A-6 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-7 99,112,715.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-8 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-9 29,100,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-10 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO 1,505,268.84 ~~906~~876.~~69429522~~95168791 1.~~08804484~~07015435 2862.~~65455582~~32269446 0.00000000 X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 9,447,600.00 ~~995~~994.~~69286591~~94604450 0.~~74682141~~75809200 0.00000000 0.00000000 B-2 5,232,500.00 ~~995~~994.~~69286574~~94604491 0.~~74682083~~75809269 0.00000000 0.00000000 B-3 4,651,100.00 ~~995~~994.~~69286620~~94604502 0.~~74682118~~75809163 0.00000000 0.00000000 B-4 1,744,200.00 ~~995~~994.~~69286779~~94604403 0.~~74682376~~75808967 0.00000000 0.00000000 B-5 2,034,900.00 ~~995~~994.~~69286451~~94604649 0.~~74682294~~75809131 0.00000000 0.00000000 B-6 3,779,816.00 ~~995~~994.~~69309988~~94627781 0.~~74682207~~75809246 0.00000000 0.00000000 R-1 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000000 0.00000000 0.00000000 0.00000000 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 0.00000000 0.00000000 0.00000000 0.00000000 A-2 0.00000000 ~~237~~245.~~63662326~~20787793 ~~477~~232.~~90789036~~70001243 0.~~47790789~~23270001 ~~237~~245.~~63662326~~20787793 A-3 0.00000000 ~~237~~245.~~63662330~~20787788 ~~477~~232.~~90789032~~70001244 0.~~47790789~~23270001 ~~237~~245.~~63662330~~20787788 A-4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-5 0.00000000 7173.~~70386157~~98839237 ~~640~~566.~~04960815~~06121578 0.~~64004961~~56606122 7173.~~70386157~~98839237 A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-8 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-10 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO 0.00000000 2963.~~74260066~~39284881 ~~876~~813.~~95168791~~55884574 0.~~87695169~~81355885 2963.~~74260066~~39284881 X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~74682141~~75809200 994.~~94604450~~18795144 0.~~99494604~~99418795 0.~~74682141~~75809200 B-2 0.00000000 0.~~74682083~~75809269 994.~~94604491~~18795222 0.~~99494604~~99418795 0.~~74682083~~75809269 B-3 0.00000000 0.~~74682118~~75809163 994.~~94604502~~18795124 0.~~99494605~~99418795 0.~~74682118~~75809163 B-4 0.00000000 0.~~74682376~~75808967 994.~~94604403~~18795436 0.~~99494604~~99418795 0.~~74682376~~75808967 B-5 0.00000000 0.~~74682294~~75809131 994.~~94604649~~18795027 0.~~99494605~~99418795 0.~~74682294~~75809131 B-6 0.00000000 0.~~74682207~~75809246 994.~~94627781~~18818535 0.~~99494628~~99418819 0.~~74682207~~75809246 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 40,460,000.00 6.75000% 0.00 0.00 0.00 0.00 A-2 27,775,724.00 4.70000% 1913,~~874~~274,~~766~~237.9266 7751,~~842~~990.8476 0.00 0.00 A-3 32,537,276.00 21.~~18000~~73000% 2315,~~281~~549,~~869~~820.3393 4222,~~295~~417.4066 0.00 0.00 A-4 0.00 6.~~32000~~77000% 2315,~~281~~549,~~869~~820.3393 ~~122~~87,~~617~~726.8591 0.00 0.00 A-5 33,314,285.00 21.~~33000~~88000% 2321,~~711~~322,~~557~~795.9506 4633,~~039~~405.9471 0.00 0.00 A-6 0.00 6.~~17000~~62000% 2321,~~711~~322,~~557~~795.9506 ~~121~~117,~~916~~630.9375 0.00 0.00 A-7 99,112,715.00 6.25000% 99,112,715.00 516,212.06 0.00 0.00 A-8 0.00 0.50000% 99,112,715.00 41,296.96 0.00 0.00 A-9 29,100,000.00 6.50000% 29,100,000.00 157,625.00 0.00 0.00 A-10 0.00 0.50000% 29,100,000.00 12,125.00 0.00 0.00 PO 1,505,268.84 0.00000% 1,~~364~~320,~~818~~048.6705 0.00 0.00 0.00 X-1 0.00 0.~~86917~~87567% ~~223~~206,~~220~~433,~~026~~832.1481 ~~161~~150,~~679~~639.1252 0.00 0.00 B-1 9,447,600.00 7.00000% 9,~~406~~399,~~907~~852.9225 54,~~873~~832.6347 0.00 0.00 B-2 5,232,500.00 7.00000% 5,~~209~~206,~~962~~055.9218 30,~~391~~368.4566 0.00 0.00 B-3 4,651,100.00 7.00000% 4,~~631~~627,~~067~~593.0955 2726,~~014~~994.5630 0.00 0.00 B-4 1,744,200.00 7.00000% 1,~~736~~735,~~687~~384.5089 10,~~130~~123.6808 0.00 0.00 B-5 2,034,900.00 7.00000% 2,~~026~~024,~~135~~615.4171 11,~~819~~810.1226 0.00 0.00 B-6 3,779,816.00 7.00000% 3,~~763~~760,~~536~~713.7186 21,~~953~~937.9650 0.00 0.00 R-1 50.00 7.00000% 0.00 0.00 0.00 0.00 R-2 50.00 7.00000% 0.00 0.00 0.00 0.00 Totals 290,695,484.84 1,~~455~~347,~~834~~136.5060 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 0.00 0.00 0.00 A-2 51181.4041 0.00 7751,~~791~~809.4435 0.00 136,~~274~~463,~~237~~411.6632 A-3 2778.9322 0.00 4222,~~267~~339.4744 0.00 157,~~549~~571,~~820~~424.9353 A-4 80306.9711 0.00 ~~122~~87,~~536~~420.8880 0.00 157,~~549~~571,~~820~~424.9353 A-5 30116.4056 0.00 4633,~~009~~289.5415 0.00 2118,~~322~~857,~~795~~924.0667 A-6 80410.5045 0.00 ~~121~~117,~~836~~220.4230 0.00 2118,~~322~~857,~~795~~924.0667 A-7 ~~340~~1,801.8624 0.00 ~~515~~514,~~871~~410.2081 0.00 99,112,715.00 A-8 27144.2710 0.00 41,~~269~~152.7087 0.00 99,112,715.00 A-9 ~~104~~550.0801 0.00 157,~~520~~074.9299 0.00 29,100,000.00 A-10 842.0131 0.00 12,~~116~~082.9969 0.00 29,100,000.00 PO 0.00 0.00 0.00 0.00 1,~~320~~224,~~048~~624.0578 X-1 ~~106~~525.7663 0.00 ~~161~~150,~~572~~113.3688 0.00 ~~206~~189,~~433~~063,~~832~~931.8115 B-1 36191.2333 0.00 54,~~837~~641.4014 0.00 9,~~399~~392,~~852~~690.2509 B-2 20105.0797 0.00 30,~~371~~262.3869 0.00 5,~~206~~202,~~055~~088.1846 B-3 1794.8419 0.00 26,~~996~~900.7210 0.00 4,~~627~~624,~~593~~067.5558 B-4 635.6932 0.00 10,~~123~~087.9976 0.00 1,~~735~~734,~~384~~062.8963 B-5 741.8021 0.00 11,~~811~~769.3205 0.00 2,~~024~~023,~~615~~073.7106 B-6 1476.5055 0.00 21,~~939~~860.4795 0.00 3,~~760~~757,~~713~~848.8641 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 Totals ~~961~~4,700.3161 0.00 1,~~454~~342,~~873~~435.2097 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 40,460,000.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000 A-2 27,775,724.00 4.70000% ~~715~~477.~~54451362~~90789036 21.~~80254945~~87180575 0.00000000 0.00000000 A-3 32,537,276.00 21.~~18000~~73000% ~~715~~477.~~54451362~~90789032 10.~~29990599~~68898392 0.00000000 0.00000000 A-4 0.00 6.~~32000~~77000% ~~715~~477.~~54451362~~90789032 32.~~76853459~~69619712 0.00000000 0.00000000 A-5 33,314,285.00 21.~~33000~~88000% ~~711~~640.~~75347002~~04960815 1.~~38198794~~00274432 0.00000000 0.00000000 A-6 0.00 6.~~17000~~62000% ~~711~~640.~~75347002~~04960815 3.~~65959918~~53094026 0.00000000 0.00000000 A-7 99,112,715.00 6.25000% 1000.00000000 5.20833336 0.00000000 0.00000000 A-8 0.00 0.50000% 1000.00000000 0.41666662 0.00000000 0.00000000 A-9 29,100,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000 A-10 0.00 0.50000% 1000.00000000 0.41666667 0.00000000 0.00000000 PO 1,505,268.84 0.00000% ~~906~~876.~~69429522~~95168791 0.00000000 0.00000000 0.00000000 X-1 0.00 0.~~86917~~87567% ~~767~~710.~~88267119~~13773139 0.~~55618036~~51820385 0.00000000 0.00000000 B-1 9,447,600.00 7.00000% ~~995~~994.~~69286591~~94604450 5.~~80820843~~80385177 0.00000000 0.00000000 B-2 5,232,500.00 7.00000% ~~995~~994.~~69286574~~94604491 5.~~80820831~~80385284 0.00000000 0.00000000 B-3 4,651,100.00 7.00000% ~~995~~994.~~69286620~~94604502 5.~~80820881~~80385285 0.00000000 0.00000000 B-4 1,744,200.00 7.00000% ~~995~~994.~~69286779~~94604403 5.~~80821007~~80385277 0.00000000 0.00000000 B-5 2,034,900.00 7.00000% ~~995~~994.~~69286451~~94604649 5.~~80820679~~80385277 0.00000000 0.00000000 B-6 3,779,816.00 7.00000% ~~995~~994.~~69309988~~94627781 5.~~80820865~~80385394 0.00000000 0.00000000 R-1 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000 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 0.00000000 0.00000000 0.00000000 A-2 0.~~00185054~~00653124 0.00000000 21.~~80069891~~86527451 0.00000000 ~~477~~232.~~90789036~~70001243 A-3 0.~~00085840~~00240401 0.00000000 10.~~29904759~~68657991 0.00000000 ~~477~~232.~~90789032~~70001244 A-4 0.~~00248853~~00940798 0.00000000 32.~~76604606~~68678915 0.00000000 ~~477~~232.~~90789032~~70001244 A-5 0.~~00091252~~00349880 0.00000000 10.~~38107542~~99924552 0.00000000 ~~640~~566.~~04960815~~06121578 A-6 0.~~00241638~~01232054 0.00000000 3.~~65718250~~51861972 0.00000000 ~~640~~566.~~04960815~~06121578 A-7 0.~~00343911~~01817365 0.00000000 5.~~20489425~~19015961 0.00000000 1000.00000000 A-8 0.~~00027514~~00145390 0.00000000 0.~~41639158~~41521282 0.00000000 1000.00000000 A-9 0.~~00357663~~01890069 0.00000000 5.~~41309003~~39776598 0.00000000 1000.00000000 A-10 0.~~00027526~~00145395 0.00000000 0.~~41639141~~41521271 0.00000000 1000.00000000 PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~876~~813.~~95168791~~55884574 X-1 0.~~00036726~~00180818 0.00000000 0.~~55581310~~51639564 0.00000000 ~~710~~650.~~13773139~~38481980 B-1 0.~~00383484~~02025170 0.00000000 5.~~80437360~~78360007 0.00000000 994.~~94604450~~18795144 B-2 0.~~00383564~~02025227 0.00000000 5.~~80437267~~78360057 0.00000000 994.~~94604491~~18795222 B-3 0.~~00383565~~02025112 0.00000000 5.~~80437316~~78359958 0.00000000 994.~~94604502~~18795124 B-4 0.~~00383557~~02024997 0.00000000 5.~~80437450~~78360280 0.00000000 994.~~94604403~~18795436 B-5 0.~~00383311~~02025161 0.00000000 5.~~80437368~~78360116 0.00000000 994.~~94604649~~18795027 B-6 0.~~00383617~~02025231 0.00000000 5.~~80437513~~78360164 0.00000000 994.~~94627781~~18818535 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 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 18,~~277~~714,~~708~~914.8047 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 5466,~~387~~474.9723 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 18,~~332~~781,~~096~~388.7770 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 9169,~~030~~051.3014 Payment of Interest and Principal 18,~~241~~712,~~066~~337.4756 Total Withdrawals (Pool Distribution Amount) 18,~~332~~781,~~096~~388.7770 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~961~~17,971.3091 Servicing Fee Support 013,271.0032 Non-Supported Prepayment/Curtailment Interest Shortfall ~~961~~4,700.3161

SERVICING FEES Gross Servicing Fee 8778,~~309~~881.9395 Master Servicing Fee 3,~~720~~440.3751 Supported Prepayment/Curtailment Interest Shortfall 013,271.0032 Net Servicing Fee 9169,~~030~~051.3014

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 78 0 0 0 78 3,~~281~~507,~~274~~543.5345 0.00 0.00 0.00 3,~~281~~507,~~274~~543.5345 60 Days 35 0 0 0 35 12,~~107~~626,~~594~~302.7980 0.00 0.00 0.00 12,~~107~~626,~~594~~302.7980 90 Days 23 0 0 0 23 1,~~412~~115,~~256~~856.9219 0.00 0.00 0.00 1,~~412~~115,~~256~~856.9219 120 Days 01 0 0 0 01 0996,653.0070 0.00 0.00 0.00 0996,653.0070 150 Days 10 0 0 0 10 ~~449,330~~0.6800 0.00 0.00 0.00 ~~449,330~~0.6800 180+ Days 21 0 0 0 21 ~~755~~381,~~476~~146.6277 0.00 0.00 0.00 ~~755~~381,~~476~~146.6277 Totals 1518 0 0 0 1518 78,~~005~~627,~~933~~502.5491 0.00 0.00 0.00 78,~~005~~627,~~933~~502.5491 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 1.~~443299~~789709% 0.000000% 0.000000% 0.000000% 1.~~443299~~789709% 1.~~588320~~853784% 0.000000% 0.000000% 0.000000% 1.~~588320~~853784% 60 Days 01.~~618557~~118568% 0.000000% 0.000000% 0.000000% 01.~~618557~~118568% 01.~~536138~~388037% 0.000000% 0.000000% 0.000000% 01.~~536138~~388037% 90 Days 0.~~412371~~671141% 0.000000% 0.000000% 0.000000% 0.~~412371~~671141% 0.~~683611~~589745% 0.000000% 0.000000% 0.000000% 0.~~683611~~589745% 120 Days 0.~~000000~~223714% 0.000000% 0.000000% 0.000000% 0.~~000000~~223714% 0.~~000000~~526745% 0.000000% 0.000000% 0.000000% 0.~~000000~~526745% 150 Days 0.~~206186~~000000% 0.000000% 0.000000% 0.000000% 0.~~206186~~000000% 0.~~217501~~000000% 0.000000% 0.000000% 0.000000% 0.~~217501~~000000% 180+ Days 0.~~412371~~223714% 0.000000% 0.000000% 0.000000% 0.~~412371~~223714% 0.~~365693~~201441% 0.000000% 0.000000% 0.000000% 0.~~365693~~201441% Totals 34.~~092784~~026846% 0.000000% 0.000000% 0.000000% 34.~~092784~~026846% 34.~~391263~~559752% 0.000000% 0.000000% 0.000000% 34.~~391263~~559752%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 5466,~~387~~474.9723

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 8.~~315731~~309446% Weighted Average Pass-Through Rate 7.~~826365~~830906% Weighted Average Maturity(Stepdown Calculation ) ~~336~~335 Beginning Scheduled Collateral Loan Count ~~526~~485 Number Of Loans Paid In Full 4138 Ending Scheduled Collateral Loan Count ~~485~~447 Beginning Scheduled Collateral Balance ~~223~~206,~~220~~433,~~025~~832.4214 Ending Scheduled Collateral Balance ~~206~~189,~~433~~063,~~832~~930.1454 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~206~~189,~~587~~209,~~719~~921.3472 Monthly P &I Constant 1,~~714~~587,~~905~~344.5197 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 18,~~020~~445,~~991~~163.6445 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~206~~189,~~433~~063,~~832~~930.1454 Scheduled Principal ~~168~~157,~~040~~895.7493 Unscheduled Principal 1617,~~618~~212,~~152~~005.5467

Miscellaneous Reporting Senior Percent 8786.~~931634~~956403% Senior Prep Percent 100.000000% Subordinate Percent 1213.~~068366~~043597% Subordinate Prep Percent 0.000000% Three Month Rolling Average 0.~~016657~~019487% Prepayment Penalties 549,~~828~~164.8388

Filing Compare · BEAR STEARNS ASSET BCK SEC TR AS-BCK CER SER 2002-AC2