8-K 1 irw02a.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 IRWIN WHOLE LOAN HOME EQUITY TRUST Home Equity Loan-Backed Notes, Series 2002-A Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-12 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On December 26, 2002 a distribution was made to holders of Irwin Whole Loan Home Equity Trust 2002-A, Home Equity Loan-Backed Notes, Series 2002-A. 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 Home Equity Loan- Backed Notes, Series 2002-A 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. Irwin Whole Loan Home Equity Trust 2002-A Home Equity Loan-Backed Notes, Series 2002-A. By: Wells Fargo Bank Minnesota, N.A. as Indenture Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 1/09/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan-Backed Notes, Series 2002-A, relating to the December 26, 2002 distribution.

Home Equity Loan-Backed Notes, Series 2002-A Irwin Whole Loan Home Equity Trust 2002-A Master Servicer Certificate Payment Date: ~~November~~December 2526, 2002 Certificate Summary Offered Note Distribution Summary Offered Note Distribution Summary Class of Beginning Note Interest Principal Aggregate Ending Note Notes Note Rate Balance Distribution Distribution Distribution Balance I A-1 21.~~10000~~65000% 4443,~~732~~062,~~065~~221.7141 8061,~~890~~184.4924 1,~~669~~159,~~844~~665.3028 1,~~750~~220,~~734~~849.7952 4341,~~062~~902,~~221~~556.4113 VFN 21.~~10000~~65000% - - - - - II A-1 1.~~98000~~53000% 2522,~~158~~468,~~498~~670.4383 4229,~~895~~602.2447 2,~~689~~724,~~827~~923.6057 2,~~732~~754,~~722~~526.8404 2219,~~468~~743,~~670~~747.8326 II A-2 4.84000% 29,248,000.00 117,966.93 - 117,966.93 29,248,000.00 II A-3 6.45000% 15,783,000.00 84,833.63 - 84,833.63 15,783,000.00 II A-IO (1) 10.00000% 9,879,000.00 82,325.00 NA 82,325.00 9,879,000.00 II M-1 6.50000% 8,645,000.00 46,827.08 - 46,827.08 8,645,000.00 II M-2 7.10000% 5,928,000.00 35,074.00 - 35,074.00 5,928,000.00 II B-1 7.50000% 7,162,000.00 44,762.50 - 44,762.50 7,162,000.00 Total ~~136~~132,~~656~~296,~~564~~892.1424 ~~535~~502,~~574~~575.8785 3,884,588.85 4,~~359~~387,~~671~~164.70 128,412,303.39 Non-Offered Subordinate Note Distribution Summary Class of Beginning Note Interest Principal Aggregate Ending Note Notes Note Rate Balance Distribution Distribution Distribution Balance X-1 NA 987,080.91 NA - - 987,080.91 X-2A NA 429,679.15 - - - 550,547.07 X-2B NA 1,718,716.62 - - - 2,202,188.27 II X-IO (1) 0.25000% 90,993,595.96 419,~~895~~588.90 NA 19,~~246~~588.7790 ~~132~~88,~~296~~703,~~892~~939.89 Total 19,588.90 (1) Class A-IO and Class II X-IO Note Balances are Notional LIBOR 1.38000% Interest Period Begin 11/25/2002 Interest Period End 12/25/2002 Number of Interest Accrual Days: 31 Days in Collection Period: 30 Noteholder Distribution Factors Summary (Per $1,000 Original Principal Amount) Class of Original Note Interest Principal Aggregate Ending Note Notes Balance Distribution Distribution Distribution Factor I A-1 49,230,000.00 1.24282429 23.55606906 24.79889336 851.15897075 VFN - 0.00000000 0.00000000 0.00000000 0.00000000 II A-1 32,029,000.00 0.92423960 85.07676075 86.00100034 616.43345905 II A-2 29,248,000.00 4.03333322 0.00000000 4.03333322 1,000.00000000 II A-3 15,783,000.00 5.37500032 0.00000000 5.37500032 1,000.00000000 II A-IO 9,879,000.00 8.33333333 NA 8.33333333 NA II M-1 8,645,000.00 5.41666628 0.00000000 5.41666628 1,000.00000000 II M-2 5,928,000.00 5.91666667 0.00000000 5.91666667 1,000.00000000 II B-1 7,162,000.00 6.25000000 0.00000000 6.25000000 1,000.00000000 148,025,000.00

Pool Collections: Group I Group II Total Aggregate Collections (HELOCs) 1,~~956~~392,~~752~~637.1649 1,~~956~~392,~~752~~637.1649 Aggregate Collections (HELs) ~~929~~1,~~840~~157,619.4879 ~~929~~1,~~840~~157,619.4879 Aggregate Collections (HEL125s) 2,~~469~~105,~~660~~930.8445 2,~~469~~105,~~660~~930.8445 Total Aggregate Collections 1,~~956~~392,~~752~~637.1649 3,~~399~~263,~~501~~550.3224 54,~~356~~656,~~253~~187.4873 Interest Collections (HELOCs) ~~340~~275,~~575~~518.5148 ~~340~~275,~~575~~518.5148 Interest Collections (HELs) ~~219~~182,~~139~~525.3180 ~~219~~182,~~139~~525.3180 Interest Collections (HEL125s) ~~950~~811,~~054~~266.1765 ~~950~~811,~~054~~266.1765 Total Interest Collections ~~340~~275,~~575~~518.5148 1993,~~169,193~~792.4845 1,~~509~~269,~~768~~310.9993 Principal Collections (HELOCs) 1,~~616~~117,~~176~~119.6501 1,~~616~~117,~~176~~119.6501 Principal Collections (HELs) ~~710~~975,~~701~~093.1799 ~~710~~975,~~701~~093.1799 Principal Collections (HEL125s) 1,~~519~~294,~~606~~663.6780 1,~~519~~294,~~606~~663.6780 Total Principal Collections 1,~~616~~117,~~176~~119.6501 2,~~230~~269,~~307~~757.8479 3,~~846~~386,~~484~~876.4980 Additional Balances Created ~~157~~126,~~956~~525.2380 ~~157~~126,~~956~~525.2380 Additional Balances Purchased ~~157~~126,~~956~~525.2380 ~~157~~126,~~956~~525.2380 Additional Balance Differential - - Net Principal Collections 1990,~~458,220~~593.4221 2,~~230~~269,~~307~~757.8479 3,~~688~~260,~~528~~351.2600 Principal Collections Distribution Amount 1990,~~458,220~~593.4221 2,~~230~~269,~~307~~757.8479 3,~~688~~260,~~528~~351.2600 Recoveries - ~~859~~456.68 ~~859~~456.68 Mortgage Loans Repurchased - - - Insurance Proceeds - - - less Servicing Fee 3836,~~698~~209.5874 8075,~~276~~828.1400 ~~118~~112,~~974~~037.7274 Master Servicer Remittance 1,~~760~~229,~~097~~901.3595 3,~~320~~188,~~084~~178.8692 54,~~080~~418,~~182~~080.2187 Payments in Order of Priority Group I Group II Total Premium due to Enhancer 87,~~239~~966.0514 87,~~239~~966.0514 Depositor Administrative Services Fee 1,~~123~~086.5129 2,~~330~~274.6084 3,~~454~~361.1113 Class A Interest Distribution 8061,~~890~~184.4924 ~~328~~314,~~020~~728.8003 ~~408~~375,~~911~~912.2927 II M-1 Interest Distribution 46,827.08 46,827.08 II M-2 Interest Distribution 35,074.00 35,074.00 II B-1 Interest Distribution 44,762.50 44,762.50 Class A Principal Collection Distribution 1990,~~458,220~~593.4221 2,~~230~~269,~~307~~757.8479 3,~~688~~260,~~528~~351.2600 II M-1 Principal Collection Distribution - - II M-2 Principal Collection Distribution - - II B-1 Principal Collection Distribution - - Class A Liquidation Loss Distribution 30- 19,~~379~~898.6528 ~~- 30~~19,~~379~~898.6528 II M-1 Liquidation Loss Distribution - - II M-2 Liquidation Loss Distribution - - II B-1 Liquidation Loss Distribution - - II X-IO Interest Distribution 2019,~~069~~588.0390 2019,~~069~~588.0390 Class A Overcollateralization Increase ~~181~~169,~~244~~072.2307 ~~459~~435,~~519~~267.7650 ~~640~~604,~~763~~339.9957 II M-1 Overcollateralization Increase - - II M-2 Overcollateralization Increase - - II B-1 Overcollateralization Increase - - Other Unpaid Enhancer Expenses - - - Other Unpaid Expenses - - - X-1 Principal Distribution - ~~153,173.25~~- ~~153,173.25~~- X-2A Distribution - - - X-2B Distribution - - - Total Distributions 1,~~760~~229,~~097~~901.3595 3,~~320~~188,~~084~~178.8692 54,~~080~~418,~~182~~080.2187 Excess Spread ~~211~~169,~~623~~072.8807 ~~632~~474,~~762~~754.0468 ~~844~~643,~~385~~826.9275

Pool Summary Group I Group II Total Beginning Pool Balance (HELOCs) 4443,~~940~~451,~~292~~692.1205 4443,~~940~~451,~~292~~692.1205 Beginning Pool Balance (HELs) 2019,~~538~~828,~~714~~013.2205 2019,~~538~~828,~~714~~013.2205 Beginning Pool Balance (HEL125s) 7271,~~685~~165,~~189~~582.5891 7271,~~685~~165,~~189~~582.5891 Total Beginning Pool Balance 4443,~~940~~451,~~292~~692.1205 9390,~~223~~993,~~903~~595.8096 ~~138~~134,~~164~~445,~~195~~288.9201 Ending Pool Balance (HELOCs) 4342,~~451~~461,~~692~~098.0584 4342,~~451~~461,~~692~~098.0584 Ending Pool Balance (HELs) 1918,~~828~~852,~~013~~919.0506 1918,~~828~~852,~~013~~919.0506 Ending Pool Balance (HEL125s) 7169,~~165~~851,~~582~~020.9183 7169,~~165~~851,~~582~~020.9183 Total Ending Pool Balance 4342,~~451~~461,~~692~~098.0584 9088,~~993~~703,~~595~~939.9689 ~~134~~131,~~445~~165,~~288~~038.0173 Beginning Loan Count (HELOCs) ~~980~~943 ~~980~~943 Beginning Loan Count (HELs) ~~458~~441 ~~458~~441 Beginning Loan Count (HEL125s) 1,~~711~~675 1,~~711~~675 Total Beginning Loan Count ~~980~~943 2,~~169~~116 3,~~149~~059 Ending Loan Count (HELOCs) ~~943~~913 ~~943~~913 Ending Loan Count (HELs) ~~441~~425 ~~441~~425 Ending Loan Count (HEL125s) 1,~~675~~641 1,~~675~~641 Total Ending Loan Count ~~943~~913 2,~~116~~066 32,~~059~~979 Loans Removed from the Trust Group I Group II Total Number of Loans - - - Principal Balance - - - Loss Summary Group I Group II Total Current Liquidation Losses (HELOCs) ~~30,379.65~~- ~~30,379.65~~ Current Liquidation Losses (HELs) - - Current Liquidation Losses (HEL125s) -19,898.28 -19,898.28 Total Current Liquidation Losses 30- 19,~~379~~898.6528 ~~- 30~~19,~~379~~898.6528 12 Month Liquidation Losses (HELOCs) 30,940.60 30,940.60 12 Month Liquidation Losses (HELs) 17,598.48 17,598.48 12 Month Liquidation Losses (HEL125s) 3353,~~665~~563.0735 3353,~~665~~563.0735 Total 12 Month Liquidation Losses 30,940.60 5171,~~263~~161.5583 82102,~~204~~102.1543 Aggregate Liquidation Losses (HELOCs) 30,940.60 30,940.60 Aggregate Liquidation Losses (HELs) 17,598.48 17,598.48 Aggregate Liquidation Losses (HEL125s) 3353,~~665~~563.0735 3353,~~665~~563.0735 Total Aggregate Liquidation Losses 30,940.60 5171,~~263~~161.5583 82102,~~204~~102.1543 Annulalized Group I Loss Percentage 0.8400% Rolling 12-Month Loss Percentage 0.00% Cumulative Liquidation Loss Percentage 0.06% 0.0507%

Overcollateralization Summary Group I Group II Total Base Overcollateralization Target 1,575,360.00 5,433,725.00 7,009,085.00 180 Days Past Due, REO & Foreclosure Loans 21156,243.89 NA 21156,243.89 Total Overcollateralization Target Amount 1,~~596~~731,603.89 5,433,725.00 7,~~030~~165,328.89 Beginning Overcollateralization Amount ~~208~~389,~~226~~470.4164 1,~~299~~758,~~405~~925.3713 12,~~507~~148,~~631~~395.7877 Overcollateralization Increase Amount ~~181~~169,~~244~~072.2307 ~~459~~435,~~519~~267.7650 ~~640~~604,~~763~~339.9957 Overcollateralization Release Amount - - - Ending Overcollateralization Amount ~~389~~558,~~470~~542.6471 12,~~758~~194,~~925~~192.1363 2,~~148~~752,~~395~~735.7734 Group I Group II Cumulative Liquidation Loss Percentage 0.06% 0.0507% Loss Test Satisfied? Yes Yes Loss Test Targets: Group I Group II Collection Periods 1 to 24 1.50% Collection Periods 25 to 48 3.35% 9.50% Collection Periods 49 to 60 4.00% 11.25% Collection Periods 61 to 84 4.50% 11.75% Collection Periods 85+ 4.50% 12.25% Senior Enhancement Percentage 2425.7182% 17.75% of the Senior Enhancement Percentage 23.9003% 3-Mo. Rolling Average 60-Day Delinquency % 01.9630% Group II Delinquency Test Satisfied? Yes Annualized Interest Collections Rate 97.~~094~~609% Annulalized Group I Loss Percentage 0.~~839~~000% Group I Excess Cash Rate 87.~~255~~609% Group I Initial Excess Spread Rate 5.462% Group I Excess Cash Rate Test Satisfied? Yes Balance of 3 Largest Group I Loans 1,086,282.47 Overcollateralization Targets Group I Group II Total Initial Principal Balance 49,230,000.00 98,795,000.00 148,025,000.00 Initial Target (% of Initial Principal Balance) 3.20% 5.50% Step-down Target (% of Current Balance) 6.40% 11.00% Triggered Target (% of Initial Principal Balance) 4.80% Step-down Date January 25, 2005 July 25, 2005 3-Mo. Rolling Average 90-Day Delinquency % 0.2337% Net Loan Rate 7.~~351~~341% Rapid Amortization Event: None Servicing Default: None

Delinquency Summary Delinquency Summary Group I Group II Group II Group II Grand HELOCs HELs HEL125s Total Total Current Loans # Balance # Balance # Balance # Balance # Balance Bankrupt 45 ~~126~~263,~~786~~019.3137 1 24,~~235~~006.6389 6 ~~220~~210,~~357~~162.9649 7 ~~244~~234,~~593~~169.5938 1112 ~~371~~497,~~379~~188.9075 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 45 ~~126~~263,~~786~~019.3137 1 24,~~235~~006.6389 6 ~~220~~210,~~357~~162.9649 7 ~~244~~234,~~593~~169.5938 1112 ~~371~~497,~~379~~188.9075 30 - 59 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 614 ~~311~~505,~~326~~418.6734 24 75182,~~403~~727.4206 1516 ~~620~~582,~~052~~731.0107 1720 ~~695~~765,~~455~~458.4313 2334 1,~~006~~270,~~782~~876.1047 Bankrupt 21 6549,~~424~~772.7357 - - 21 7630,~~474~~347.9236 21 7630,~~474~~347.9236 42 ~~141~~80,~~899~~119.6593 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 815 ~~376~~555,~~751~~190.4091 24 75182,~~403~~727.4206 17 ~~696~~613,~~526~~078.9343 1921 ~~771~~795,~~930~~805.3549 2736 1,~~148~~350,~~681~~996.7540 60 - 89 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 3 9287,~~881~~575.0496 - - 59 ~~180~~329,~~531~~657.6131 59 $~~180~~329,~~531~~657.6131 812 ~~273~~417,~~412~~233.6527 Bankrupt -1 -15,652.16 - - 3 ~~122~~150,~~811~~884.2429 3 ~~122~~150,~~811~~884.2429 34 ~~122~~166,~~811~~536.2445 REO - - - - - - - - - - Foreclosure 1 135,000.00 - - 2- ~~166,847.90~~- - - 21 ~~166~~135,~~847~~000.9000 ~~2 166,847.90~~ Total 35 92238,~~881~~228.0412 2- ~~166,847.90~~- 812 ~~303~~480,~~342~~541.8560 1012 ~~470~~480,~~190~~541.7560 1317 ~~563~~718,~~071~~769.7972 90 - 119 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 1- ~~20,000.00~~- - - 15 34170,~~607~~697.9807 15 34170,~~607~~697.9807 25 54170,~~607~~697.9807 Bankrupt 1 7723,~~300~~000.00 - - 13 34122,~~960~~811.9424 13 34122,~~960~~811.9424 24 ~~112~~145,~~260~~811.9424 REO - - - - - - - - - - Foreclosure - - -1 -83,688.22 - - -1 -83,688.22 -1 -83,688.22 Total 21 9723,~~300~~000.00 -1 -83,688.22 28 69293,~~568~~508.9231 29 69377,~~568~~196.9253 410 ~~166~~400,~~868~~196.9253 120 - 149 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - 2- ~~37,034.68~~- 61 ~~211~~34,~~802~~607.4298 81 ~~248~~34,~~837~~607.1098 81 ~~248~~34,~~837~~607.1098 Bankrupt -2 -97,300.00 - - 21 4834,~~411~~960.3294 21 4834,~~411~~960.3294 23 48132,~~411~~260.3294 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 2 97,300.00 - - 2 3769,~~034~~568.6892 82 ~~260~~69,~~213~~568.7492 104 ~~297~~166,~~248~~868.4292 ~~10 297,248.42~~ 150 - 179 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - -1 -16,844.81 67 ~~232~~231,~~559~~662.0900 68 ~~232~~248,~~559~~506.0981 68 ~~232~~248,~~559~~506.0981 Bankrupt - - - - 2 5348,~~408~~411.7932 2 5348,~~408~~411.7932 2 5348,~~408~~411.7932 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total - - -1 -16,844.81 89 ~~285~~280,~~967~~073.8832 810 ~~285~~296,~~967~~918.8813 810 ~~285~~296,~~967~~918.8813 180 or More Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - - - 25 67225,~~298~~091.2800 25 67225,~~298~~091.2800 25 67225,~~298~~091.2800 Bankrupt 1 21,243.89 - - -3 -88,388.47 -3 -88,388.47 14 21109,~~243~~632.8936 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 1 21,243.89 - - 28 67313,~~298~~479.2847 28 67313,~~298~~479.2847 39 88334,~~542~~723.1736 Total Bankrupt 811 ~~290~~469,~~754~~987.9399 1 24,~~235~~006.6389 1619 ~~556~~685,~~425~~966.1711 1720 ~~580~~709,~~660~~973.8000 2531 ~~871~~1,~~415~~179,960.7399 Total REO - - - - - - - - - - Total Foreclosure -1 -135,000.00 21 ~~166~~83,~~847~~688.9022 - - 21 ~~166~~83,~~847~~688.9022 2 ~~166~~218,~~847~~688.9022

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC IR WH LN HM EQ TR 2002-A