8-K 1 bsa02001.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 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-08 Pooling and Servicing Agreement) (Commission 47-0864714 (State or other File Number) 47-0864710 jurisdiction 47-0864706 of Incorporation) 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, Mortgage Pass-Through Certificates, 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 Mortgage Pass-Through Certificates, Series 2002-1 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 Mortgage Pass-Through Certificates, Series 2002-1 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 Mortgage Pass-Through Certificates, Series 2002-1 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: 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 1-A1 07384YCQ7 SEN 21.~~03000~~58000% 6861,~~227~~842,~~500~~510.4838 ~~119~~84,~~265~~140.4617 68,~~384~~065,~~990~~516.1092 1-A2 07384YCR5 SEN 5.52000% 36,229,000.00 166,653.40 0.00 1-A3 07384YCS3 SEN 6.17000% 11,413,000.00 58,681.84 0.00 1-A4 07384YCT1 SEN 6.87000% 10,957,000.00 62,728.8382 0.00 1-A5 07384YCU8 SEN 6.39000% 22,779,000.00 121,298.1817 0.00 2-A 07384YCV6 SEN 21.~~15000~~70000% 6966,~~228~~042,~~680~~882.3453 ~~128~~96,~~169~~679.2144 34,~~185~~625,~~797~~220.8188 A-IO 07384YCW4 IO 8.00000% 0.00 222,093.33 0.00 M-1 07384YCX2 MEZ 2.~~63000~~18000% 16,657,000.00 3731,~~723~~268.4889 0.00 M-2 07384YCY0 MEZ 32.~~18000~~73000% 16,657,000.00 4539,~~612~~157.4283 0.00 B 07384YCZ7 SUB 43.~~08000~~63000% 13,325,000.00 4641,~~815~~651.1773 0.00 B-IO BSA021BIO IO 0.00000% 0.00 ~~864~~829,~~430~~927.0566 0.00 OC BSA0201OC OC 0.00000% 4,164,210.40 0.00 0.00 R-1 07384YDA1 RES 0.00000% 0.00 0.00 0.00 R-2 07384YDB9 RES 0.00000% 0.00 0.00 0.00 R-3 07384YDC7 RES 0.00000% 0.00 0.00 0.00 Totals ~~269~~260,~~637~~066,~~391~~603.2231 1,~~873~~754,~~471~~281.3728 912,~~570~~690,~~787~~737.9180

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A1 0.00 6153,~~842~~776,~~510~~993.3846 68,~~504~~149,~~255~~657.5609 0.00 1-A2 0.00 36,229,000.00 166,653.40 0.00 1-A3 0.00 11,413,000.00 58,681.84 0.00 1-A4 0.00 10,957,000.00 62,728.8382 0.00 1-A5 0.00 22,779,000.00 121,298.1817 0.00 2-A 0.00 6661,~~042~~417,~~882~~661.5365 34,~~313~~721,~~967~~900.0232 0.00 A-IO 0.00 0.00 222,093.33 0.00 M-1 0.00 16,657,000.00 3731,~~723~~268.4889 0.00 M-2 0.00 16,657,000.00 4539,~~612~~157.4283 0.00 B 0.00 13,325,000.00 4641,~~815~~651.1773 0.00 B-IO 0.00 0.00 ~~864~~829,~~430~~927.0566 0.00 OC 0.00 4,164,210.40 0.00 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 ~~260~~247,~~066~~375,~~603~~865.3151 1114,~~444~~445,~~259~~019.2808 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) 1-A1 114,524,000.00 6861,~~227~~842,~~500~~510.4838 0.00 68,~~384~~065,~~990~~516.1092 0.00 0.00 1-A2 36,229,000.00 36,229,000.00 0.00 0.00 0.00 0.00 1-A3 11,413,000.00 11,413,000.00 0.00 0.00 0.00 0.00 1-A4 10,957,000.00 10,957,000.00 0.00 0.00 0.00 0.00 1-A5 22,779,000.00 22,779,000.00 0.00 0.00 0.00 0.00 2-A 90,595,000.00 6966,~~228~~042,~~680~~882.3453 0.00 34,~~185~~625,~~797~~220.8188 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 16,657,000.00 16,657,000.00 0.00 0.00 0.00 0.00 M-2 16,657,000.00 16,657,000.00 0.00 0.00 0.00 0.00 B 13,325,000.00 13,325,000.00 0.00 0.00 0.00 0.00 B-IO 0.00 0.00 0.00 0.00 0.00 0.00 OC 831.55 4,164,210.40 0.00 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 R-3 50.00 0.00 0.00 0.00 0.00 0.00 Totals 333,136,981.55 ~~269~~260,~~637~~066,~~391~~603.2231 0.00 912,~~570~~690,~~787~~737.9180 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 1-A1 68,~~384~~065,~~990~~516.1092 6153,~~842~~776,~~510~~993.3846 0.~~53999607~~46956964 68,~~384~~065,~~990~~516.1092 1-A2 0.00 36,229,000.00 1.00000000 0.00 1-A3 0.00 11,413,000.00 1.00000000 0.00 1-A4 0.00 10,957,000.00 1.00000000 0.00 1-A5 0.00 22,779,000.00 1.00000000 0.00 2-A 34,~~185~~625,~~797~~220.8188 6661,~~042~~417,~~882~~661.5365 0.~~72899037~~67793655 34,~~185~~625,~~797~~220.8188 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 16,657,000.00 1.00000000 0.00 M-2 0.00 16,657,000.00 1.00000000 0.00 B 0.00 13,325,000.00 1.00000000 0.00 B-IO 0.00 0.00 0.00000000 0.00 OC 0.00 4,164,210.40 5,007.76910589 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 912,~~570~~690,~~787~~737.9180 ~~260~~247,~~066~~375,~~603~~865.3151 0.~~78065966~~74256501 912,~~570~~690,~~787~~737.9180

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A1 114,524,000.00 ~~595~~539.~~74849359~~99607401 0.00000000 5570.~~75241958~~42643394 0.00000000 1-A2 36,229,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A3 11,413,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A4 10,957,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 1-A5 22,779,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 2-A 90,595,000.00 ~~764~~728.~~15564148~~99036956 0.00000000 3551.~~16527192~~05382063 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 16,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 16,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 13,325,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 OC 831.55 5007769.10588660 0.00000000 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 R-3 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A1 0.00000000 5570.~~75241958~~42643394 ~~539~~469.~~99607401~~56964008 0.~~53999607~~46956964 5570.~~75241958~~42643394 1-A2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 1-A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 2-A 0.00000000 3551.~~16527192~~05382063 ~~728~~677.~~99036956~~93654893 0.~~72899037~~67793655 3551.~~16527192~~05382063 A-IO 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 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 5,007,769.~~1058866~~10588660 5007.76910589 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 1-A1 114,524,000.00 21.~~03000~~58000% 6861,~~227~~842,~~500~~510.4838 ~~119~~84,~~265~~140.4617 0.00 0.00 1-A2 36,229,000.00 5.52000% 36,229,000.00 166,653.40 0.00 0.00 1-A3 11,413,000.00 6.17000% 11,413,000.00 58,681.84 0.00 0.00 1-A4 10,957,000.00 6.87000% 10,957,000.00 62,728.83 0.00 0.00 1-A5 22,779,000.00 6.39000% 22,779,000.00 121,298.18 0.00 0.00 2-A 90,595,000.00 21.~~15000~~70000% 6966,~~228~~042,~~680~~882.3453 ~~128~~96,~~169~~679.2144 0.00 0.00 A-IO 0.00 8.00000% 33,314,000.00 222,093.33 0.00 0.00 M-1 16,657,000.00 2.~~63000~~18000% 16,657,000.00 3731,~~723~~268.4889 0.00 0.00 M-2 16,657,000.00 32.~~18000~~73000% 16,657,000.00 4539,~~612~~157.4283 0.00 0.00 B 13,325,000.00 43.~~08000~~63000% 13,325,000.00 4641,~~815~~651.1773 0.00 0.00 B-IO 0.00 0.00000% 0.00 0.00 0.00 0.00 OC 831.55 0.00000% 4,164,210.40 0.00 0.00 0.00 R-1 50.00 0.00000% 0.00 0.00 0.00 0.00 R-2 50.00 0.00000% 0.00 0.00 0.00 0.00 R-3 50.00 0.00000% 0.00 0.00 0.00 0.00 Totals 333,136,981.55 1924,~~009,041~~353.3264 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 1-A1 0.00 0.00 ~~119~~84,~~265~~140.4617 0.00 6153,~~842~~776,~~510~~993.3846 1-A2 0.00 0.00 166,653.40 0.00 36,229,000.00 1-A3 0.00 0.00 58,681.84 0.00 11,413,000.00 1-A4 0.00 0.00 62,728.8382 0.00 10,957,000.00 1-A5 0.00 0.00 121,298.1817 0.00 22,779,000.00 2-A 0.00 0.00 ~~128~~96,~~169~~679.2144 0.00 6661,~~042~~417,~~882~~661.5365 A-IO 0.00 0.00 222,093.33 0.00 33,314,000.00 M-1 0.00 0.00 3731,~~723~~268.4889 0.00 16,657,000.00 M-2 0.00 0.00 4539,~~612~~157.4283 0.00 16,657,000.00 B 0.00 0.00 4641,~~815~~651.1773 0.00 13,325,000.00 B-IO 0.00 0.00 ~~864~~829,~~430~~927.0566 0.00 0.00 OC 0.00 0.00 0.00 0.00 4,164,210.40 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 1,~~873~~754,~~471~~281.3728 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 1-A1 114,524,000.00 21.~~03000~~58000% ~~595~~539.~~74849359~~99607401 10.~~04140145~~73469465 0.00000000 0.00000000 1-A2 36,229,000.00 5.52000% 1000.00000000 4.60000000 0.00000000 0.00000000 1-A3 11,413,000.00 6.17000% 1000.00000000 5.14166652 0.00000000 0.00000000 1-A4 10,957,000.00 6.87000% 1000.00000000 5.72500046 0.00000000 0.00000000 1-A5 22,779,000.00 6.39000% 1000.00000000 5.32500022 0.00000000 0.00000000 2-A 90,595,000.00 21.~~15000~~70000% ~~764~~728.~~15564148~~99036956 1.~~41474927~~06716088 0.00000000 0.00000000 A-IO 0.00 8.00000% 1000.00000000 6.66666657 0.00000000 0.00000000 M-1 16,657,000.00 2.~~63000~~18000% 1000.00000000 21.~~26472234~~87722219 0.00000000 0.00000000 M-2 16,657,000.00 32.~~18000~~73000% 1000.00000000 2.~~73833343~~35083328 0.00000000 0.00000000 B 13,325,000.00 43.~~08000~~63000% 1000.00000000 3.~~51333358~~12583340 0.00000000 0.00000000 B-IO 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 OC 831.55 0.00000% 5007769.10588660 0.00000000 0.00000000 0.00000000 R-1 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 50.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 5) All Senior Classes are per $1,000 denomination, all Offered Subordinate Classes are $25,000 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 1-A1 0.00000000 0.00000000 10.~~04140145~~73469465 0.00000000 ~~539~~469.~~99607401~~56964008 1-A2 0.00000000 0.00000000 4.60000000 0.00000000 1000.00000000 1-A3 0.00000000 0.00000000 5.14166652 0.00000000 1000.00000000 1-A4 0.00000000 0.00000000 5.~~72500046~~72499954 0.00000000 1000.00000000 1-A5 0.00000000 0.00000000 5.~~32500022~~32499978 0.00000000 1000.00000000 2-A 0.00000000 0.00000000 1.~~41474927~~06716088 0.00000000 ~~728~~677.~~99036956~~93654893 A-IO 0.00000000 0.00000000 6.66666657 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 21.~~26472234~~87722219 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~73833343~~35083328 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~51333358~~12583340 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 OC 0.00000000 0.00000000 0.00000000 0.00000000 5007769.10588660 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 1114,~~299~~316,~~903~~812.4500 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~252~~273,~~332~~389.1060 Realized Losses (2149,~~492~~620.9702) Prepayment Penalties 0.00 Total Deposits 1114,~~530~~540,~~742~~581.58 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 8695,~~483~~562.3050 Payment of Interest and Principal 1114,~~444~~445,~~259~~019.2808 Total Withdrawals (Pool Distribution Amount) 1114,~~530~~540,~~742~~581.58 Ending Balance 0.00

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 1224,~~374~~276.2629 Servicing Fee Support ~~12,374~~0.2600 Non-Supported Prepayment/Curtailment Interest Shortfall 024,276.0029

SERVICING FEES Gross Servicing Fee 9592,~~487~~311.0964 Master Servicing Fee 3,~~370~~250.4786 Supported Prepayment/Curtailment Interest Shortfall ~~12,374~~0.2600 Net Servicing Fee 8695,~~483~~562.3050

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 ~~109~~108 10 0 ~~110~~108 5,~~965~~857,~~342~~388.6680 ~~21,746~~0.9700 0.00 5,~~987~~857,~~089~~388.6380 30 Days ~~180~~170 913 0 0 ~~189~~183 12,~~561~~101,~~132~~631.3064 ~~393~~668,~~038~~645.9116 0.00 0.00 12,~~954~~770,~~171~~276.2180 60 Days 4764 105 20 0 5969 35,~~291~~500,~~110~~433.9614 ~~462~~220,~~176~~068.3096 ~~53,113~~0.9800 0.00 35,~~806~~720,~~401~~502.2410 90 Days 2720 27 15 0 4442 21,~~006~~920,~~807~~825.6709 ~~125~~275,~~867~~850.2097 1720,~~434,341~~237.3472 0.00 32,~~567~~916,~~016~~913.2178 120 Days 1216 32 915 0 2433 1960,~~018,886~~008.0642 ~~127~~139,~~955~~227.8236 ~~818~~1,~~797~~221,392.5819 0.00 12,~~965~~320,~~639~~627.4697 150 Days 7 5 410 16 0 2522 ~~132~~324,~~359~~683.7898 ~~430~~469,~~658~~430.6291 ~~831~~985,~~234~~647.8669 0.00 1,~~394~~779,~~253~~762.2658 180+ Days 1117 9 3239 36 5571 ~~702~~1,~~682~~053,939.6641 ~~460~~713,~~032~~768.5852 2,~~333~~215,~~799~~328.6631 ~~219~~253,~~886~~363.7527 34,~~716~~236,~~401~~399.6551 Totals ~~282~~294 ~~146~~149 7579 36 ~~506~~528 1921,~~712~~861,~~979~~521.4368 78,~~965~~344,~~072~~380.0968 5,~~493~~142,~~034~~605.3991 ~~219~~253,~~886~~363.7527 3335,~~390~~601,~~972~~871.6654 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 2.~~874473~~914193% 0.~~026371~~000000% 0.000000% 2.~~900844~~914193% 2.~~287843~~361148% 0.~~008340~~000000% 0.000000% 2.~~296184~~361148% 30 Days 4.~~746835~~587156% 0.~~237342~~350783% 0.000000% 0.000000% 4.~~984177~~937938% 4.~~817477~~878238% 0.~~150739~~269535% 0.000000% 0.000000% 45.~~968217~~147773% 60 Days 1.~~239451~~726929% 0.~~263713~~134916% 0.~~052743~~000000% 0.000000% 1.~~555907~~861846% 12.~~262215~~217257% 0.~~177255~~088711% 0.~~020370~~000000% 0.000000% 12.~~459841~~305968% 90 Days 0.~~712025~~539665% 0.~~052743~~188883% 0.~~395570~~404749% 0.000000% 1.~~160338~~133297% 0.~~769656~~774296% 0.~~048273~~111197% 0.~~550102~~290332% 0.000000% 1.~~368031~~175825% 120 Days 0.~~316456~~431732% 0.~~079114~~053967% 0.~~237342~~404749% 0.000000% 0.~~632911~~890448% 0.~~390766~~386985% 0.~~049074~~056123% 0.~~314027~~492350% 0.000000% 0.~~753867~~935459% 150 Days 0.~~131857~~188883% 0.~~105485~~134916% 0.~~421941~~269833% 0.000000% 0.~~659283~~593632% 0.~~050763~~130882% 0.~~165167~~189230% 0.~~318797~~397320% 0.000000% 0.~~534728~~717433% 180+ Days 0.~~290084~~458716% 0.~~237342~~242849% 01.~~843882~~052348% 0.~~079114~~161900% 1.~~450422~~915812% 0.~~269495~~424849% 0.~~176433~~287724% 0.~~895065~~893012% 0.~~084332~~102132% 1.~~425324~~707717% Totals 7.~~436709~~933081% 34.~~850211~~020507% 12.~~977848~~131678% 0.~~079114~~161900% 1314.~~343882~~247167% 78.~~560372~~812507% 3.~~054785~~363669% 2.~~106702~~073014% 0.~~084332~~102132% 1214.~~806190~~351322%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group I 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 81 10 0 8281 3,~~544~~601,~~701~~706.3905 ~~21,746~~0.9700 0.00 3,~~566~~601,~~448~~706.3605 30 Days ~~134~~123 79 0 0 ~~141~~132 7,~~578~~070,~~501~~140.7481 ~~307~~343,~~855~~221.3186 0.00 0.00 7,~~886~~413,~~357~~362.0567 60 Days 3148 74 10 0 3952 23,~~021~~532,~~309~~917.4556 ~~170~~93,~~401~~127.2522 ~~35,308~~0.4600 0.00 23,~~227~~626,~~019~~044.1678 90 Days 2019 15 129 0 33 1,~~419~~866,~~490~~010.5416 29111,~~182~~111.2954 ~~905~~465,~~829~~444.9457 0.00 2,~~354~~442,~~502~~566.7727 120 Days 510 31 410 0 1221 ~~336~~410,~~411~~417.5812 ~~127~~42,~~955~~542.8245 ~~308~~601,~~208~~324.7901 0.00 ~~772~~1,~~576~~054,283.1958 150 Days 54 34 105 0 1813 ~~132~~151,~~359~~321.7863 ~~104~~143,~~646~~667.0935 ~~298~~433,~~795~~194.2939 0.00 ~~535~~728,~~801~~183.1637 180 Days 1015 76 2126 25 4052 ~~549~~735,~~443~~607.9158 ~~368~~420,~~540~~513.4567 1,~~301~~257,~~650~~561.0652 ~~116~~253,~~864~~363.7827 2,~~336~~667,~~499~~046.2004 Totals ~~205~~219 ~~109~~110 4950 25 ~~365~~384 1213,~~037~~766,~~517~~414.0086 4,~~653~~755,~~282~~890.6014 2,~~871~~757,~~539~~524.5149 ~~116~~253,~~864~~363.7827 1921,~~679~~533,~~203~~192.8976 0-29 Days 2.~~768284~~831178% 0.~~034176~~000000% 0.000000% 2.~~802461~~831178% 12.~~987188~~114288% 0.~~012192~~000000% 0.000000% 12.~~999380~~114288% 30 Days 4.~~579631~~299196% 0.~~239234~~314575% 0.000000% 0.000000% 4.~~818865~~613771% 4.~~248569~~150342% 0.~~172586~~201479% 0.000000% 0.000000% 4.~~421155~~351822% 60 Days 1.~~059467~~677735% 0.~~239234~~139811% 0.~~034176~~000000% 0.000000% 1.~~332878~~817546% 12.~~133162~~073907% 0.~~095528~~054668% 0.~~019794~~000000% 0.000000% 12.~~248485~~128575% 90 Days 0.~~683527~~664103% 0.~~034176~~174764% 0.~~410116~~314575% 0.000000% 1.~~127820~~153443% 01.~~795778~~095393% 0.~~016360~~065225% 0.~~507816~~273227% 0.000000% 1.~~319953~~433845% 120 Days 0.~~170882~~349528% 0.~~102529~~034953% 0.~~136705~~349528% 0.000000% 0.~~410116~~734009% 0.~~188595~~240925% 0.~~071733~~024973% 0.~~172784~~352992% 0.000000% 0.~~433112~~618890% 150 Days 0.~~170882~~139811% 0.~~102529~~139811% 0.~~341763~~174764% 0.000000% 0.~~615174~~454387% 0.~~074202~~088829% 0.~~058665~~084336% 0.~~167507~~254295% 0.000000% 0.~~300374~~427461% 180 Days 0.~~341763~~524292% 0.~~239234~~209717% 0.~~717703~~908773% 0.~~068353~~174764% 1.~~367054~~817546% 0.~~308023~~431819% 0.~~206607~~246852% 0.~~729716~~738219% 0.~~065515~~148730% 1.~~309860~~565620% Totals 7.~~006152~~654666% 3.~~725222~~844810% 1.~~674641~~747641% 0.~~068353~~174764% 1213.~~474368~~421880% 68.~~748329~~081216% 2.~~608668~~791822% 1.~~609808~~618733% 0.~~065515~~148730% 1112.~~032321~~640501% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group II 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 2827 0 0 2827 2,~~420~~255,~~641~~682.2775 0.00 0.00 2,~~420~~255,~~641~~682.2775 30 Days 4647 24 0 0 4851 45,~~982~~031,~~630~~490.5683 85325,~~183~~423.6030 0.00 0.00 5,~~067~~356,~~814~~914.1613 60 Days 16 3 1 0 200 17 1,~~269~~967,~~801~~515.5158 ~~291~~126,~~775~~941.0574 ~~17,805~~0.5200 0.00 12,~~579~~094,~~382~~457.0832 90 Days 7 1 32 6 0 119 ~~587~~54,~~317~~814.1393 96164,~~684~~739.9143 ~~528~~254,~~511~~793.4015 0.00 1474,~~212,513~~347.4451 120 Days 76 01 5 0 12 ~~682~~549,~~474~~591.4830 096,684.0091 ~~510~~620,~~588~~068.7918 0.00 1,~~193~~266,~~063~~344.2739 150 Days 03 1 65 0 79 0173,362.0035 ~~326~~325,~~012~~763.5356 ~~532~~552,~~439~~453.5730 0.00 ~~858~~1,~~452~~051,579.1021 180 Days 1 2 113 13 1 1519 ~~153~~318,~~238~~331.7583 91293,~~492~~254.1385 1957,~~032,149~~766.6079 ~~103,021~~0.9700 1,~~379~~569,~~902~~353.4547 Totals 7775 3739 2629 1 ~~141~~144 78,~~675~~095,~~462~~106.4382 3,~~311~~588,~~789~~490.4954 2,~~621~~385,~~494~~081.8842 ~~103,021~~0.9700 1314,~~711~~068,~~768~~678.7778 0-29 Days 3.~~233256~~195266% 0.000000% 0.000000% 3.~~233256~~195266% 2.~~938986~~902207% 0.000000% 0.000000% 2.~~938986~~902207% 30 Days 5.~~311778~~562130% 0.~~230947~~473373% 0.000000% 0.000000% 56.~~542725~~035503% 6.~~049588~~473617% 0.~~103424~~418696% 0.000000% 0.000000% 6.~~153013~~892314% 60 Days 1.~~847575~~893491% 0.~~346420~~118343% 0.~~115473~~000000% 0.000000% 2.~~309469~~011834% 12.~~541711~~531445% 0.~~354254~~163326% 0.~~021618~~000000% 0.000000% 12.~~917584~~694771% 90 Days 0.~~808314~~118343% 0.~~115473~~236686% 0.~~346420~~710059% 0.000000% 1.~~270208~~065089% 0.~~713083~~070526% 0.~~117389~~211957% 0.~~641684~~327822% 0.000000% 10.~~472156~~610305% 120 Days 0.~~808314~~710059% 0.~~000000~~118343% 0.~~577367~~591716% 0.000000% 1.~~385681~~420118% 0.~~828616~~707115% 0.~~000000~~124397% 0.~~619924~~797792% 0.000000% 1.~~448540~~629304% 150 Days 0.~~000000~~355030% 0.~~115473~~118343% 0.~~692841~~591716% 0.000000% 01.~~808314~~065089% 0.~~000000~~223051% 0.~~395823~~419134% 0.~~646454~~710798% 0.000000% 1.~~042277~~352983% 180 Days 0.~~115473~~236686% 0.~~230947~~355030% 1.~~270208~~538462% 0.~~115473~~118343% 12.~~732102~~248521% 0.~~186053~~409572% 0.~~111084~~377308% 1.~~253169~~232282% 0.~~125083~~000000% 12.~~675388~~019162% Totals 8.~~891455~~875740% 4.~~272517~~615385% 3.~~002309~~431953% 0.~~115473~~118343% 1617.~~281755~~041420% 910.~~319051~~415327% 4.~~020961~~617024% 3.~~182850~~068694% 0.~~125083~~000000% 1618.~~647944~~101045%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~252~~273,~~332~~389.1060

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 8.~~873347~~764511% Weighted Average Net Coupon 8.~~448390~~338566% Weighted Average Pass-Through Rate 8.~~433390~~323566% Weighted Average Maturity(Stepdown Calculation ) ~~272~~271 Beginning Scheduled Collateral Loan Count 3,~~882~~792 Number Of Loans Paid In Full 9086 Ending Scheduled Collateral Loan Count 3,~~792~~706 Beginning Scheduled Collateral Balance ~~269~~260,~~637~~066,~~391~~603.2231 Ending Scheduled Collateral Balance ~~260~~247,~~066~~375,~~603~~865.3151 Ending Actual Collateral Balance at 3130-~~Oct~~Nov-2002 ~~260~~248,~~740~~073,~~874~~810.2019 Monthly P &I Constant 2,~~550~~475,~~992~~972.5565 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 2149,~~492~~620.9702 Cumulative Realized Loss 2171,~~492~~112.9799 Ending Scheduled Balance for Premium Loans ~~260~~247,~~066~~375,~~603~~865.3151 Scheduled Principal ~~556~~550,~~383~~013.0265 Unscheduled Principal 912,~~014~~140,~~404~~724.8915 Required Overcollateralization Amount 4,164,210.40 Overcollateralized Increase Amount 2149,~~492~~620.9702 Overcollateralized reduction Amount 0.00 Specified O/C Amount 4,164,210.40 Overcollateralized Amount 4,164,210.40 Overcollateralized Deficiency Amount 0.00 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 2149,~~492~~620.9702 Excess Cash Amount ~~887~~881,~~487~~148.2338

Miscellaneous Reporting Rolling Avg 3-Month Del Percentage 45.~~758632~~736569% Trigger Event Exists? NO

Group Level Collateral Statement Group Group I Group II Total Collateral Description Mixed Fixed Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 98.~~148643~~989694 8.~~279153~~277193 8.~~873347~~764511 Weighted Average Net Rate 8.~~731740~~572343 7.~~836810~~832653 8.~~448390~~338566 Weighted Average Maturity ~~264~~263 ~~290~~289 ~~272~~271 Beginning Loan Count 2,~~992~~926 ~~890~~866 3,~~882~~792 Loans Paid In Full 6665 2421 9086 Ending Loan Count 2,~~926~~861 ~~866~~845 3,~~792~~706 Beginning Scheduled Balance ~~184~~177,~~265~~873,~~555~~410.2282 8582,~~371~~193,~~836~~192.0049 ~~269~~260,~~637~~066,~~391~~603.2231 Ending scheduled Balance ~~177~~169,~~873~~821,~~410~~493.8266 8277,~~193~~554,~~192~~371.4985 ~~260~~247,~~066~~375,~~603~~865.3151 Record Date 1011/3130/2002 1011/3130/2002 1011/3130/2002 Principal And Interest Constant 1,~~839~~788,~~927~~697.1440 ~~711~~687,~~065~~275.4125 2,~~550~~475,~~992~~972.5565 Scheduled Principal ~~434~~429,~~322~~679.9919 ~~122~~120,~~060~~334.0346 ~~556~~550,~~383~~013.0265 Unscheduled Principal 57,~~957~~622,~~821~~237.4197 34,~~056~~518,~~583~~486.4818 912,~~014~~140,~~404~~724.8915 Scheduled Interest 1,~~404~~332,~~816~~522.4998 ~~589~~566,~~005~~940.3879 1,~~993~~899,~~821~~463.8777 Servicing Fees 6461,~~017~~863.4112 3130,~~469~~448.6852 9592,~~487~~311.0964 Master Servicing Fees 2,~~303~~223.3342 1,~~067~~027.1444 3,~~370~~250.4786 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 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 1,~~338~~268,~~495~~436.7544 ~~556~~535,~~468~~464.5683 1,~~894~~803,~~964~~901.3127 Realized Loss Amount 2117,~~492~~935.9793 031,684.0009 2149,~~492~~620.9702 Cumulative Realized Loss 2139,~~492~~428.9790 031,684.0009 2171,~~492~~112.9799 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.~~716740~~557343 7.~~821810~~817653 8.~~433390~~323566

Filing Compare · BEAR STEARNS ASSET BACKED SEC TR ASSET BACK CERT SER 2002-1