8-K 1 bsl02001_sep.txt SEPTEMBER 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): September 27, 2004 BEAR STEARNS ALT-A TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-56242-10 90-0070107 Pooling and Servicing Agreement) (Commission 90-0070108 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On September 27, 2004 a distribution was made to holders of BEAR STEARNS ALT-A TRUST, Mortgage Pass-Through Certificates, Series 2002-1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the September 27, 2004 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 ALT-A TRUST Mortgage Pass-Through Certificates, Series 2002-1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Securities Administrator By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/29/2004 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 September 27, 2004 distribution. EX-99.1

Bear Stearns ALT-A Trust Mortgage Pass-Through Certificates Record Date: 78/31/042004 Distribution Date: 89/2527/042004 BSL Series: 2002-1 Contact: Customer Service - CTSLink Wells Fargo Bank, 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 I-A-1 07386HAA9 SEQ 20.~~78000~~00000% 0.00 0.00 0.00 I-A-2-1 07386HAB7 SEQ 30.~~53000~~00000% 0.00 0.00 0.00 I-A-2-2 07386HAC5 SEQ 30.~~90000~~00000% 0.00 0.00 0.00 I-A-3 07386HAD3 SEQ 50.~~70000~~00000% 0.00 0.00 0.00 I-A-4 07386HAE1 SEQ 5.59500% 2119,~~220~~479,~~507~~389.2340 9890,~~940~~822.6266 119,~~741~~479,~~117~~389.8340 II-A 07386HAG6 SEQ 6.~~40128~~33894% 32,~~265~~478,~~787~~449.0936 1713,~~421~~092.0029 ~~787~~2,~~337~~478,449.7336 R-I 07386HAN1 RES 60.~~35717~~00000% 0.00 0.00 0.00 R-II 07386HAP6 RES 60.~~35717~~00000% 0.00 0.00 0.00 I-X 07386HAF8 IO 0.~~79925~~80782% 0.00 1413,~~133~~113.8123 0.00 B-1 07386HAH4 SUB 6.~~39535~~39340% 2,~~528~~411,~~015~~400.4347 1312,~~472~~847.9654 ~~116~~2,~~614~~411,400.9647 B-2 07386HAJ0 SUB 6.~~39535~~39340% 1,~~733~~653,~~496~~531.2975 98,~~238~~809.6074 791,~~964~~653,531.5475 B-3 07386HAK7 SUB 6.~~39535~~39340% 1,~~589~~515,~~038~~737.2744 8,~~468~~075.7260 731,~~300~~515,737.8344 B-4 07386HAQ4 SUB 6.~~39535~~39340% 1,~~300~~240,~~122~~148.2281 6,~~928~~607.9531 591,~~973~~240,148.4181 B-5 07386HAR2 SUB 6.~~39535~~39340% ~~577~~551,~~832~~177.1025 32,~~079~~936.5358 26551,~~654~~177.8525 B-6 07386HAS0 SUB 6.~~39535~~39340% ~~452~~431,~~094~~239.0033 2,~~409~~297.4257 20283,~~854~~399.6764 Totals 3229,~~666~~761,~~892~~073.6381 ~~174~~158,~~093~~602.6152 229,~~905~~613,~~818~~234.8212

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses I-A-1 0.00 0.00 0.00 0.00 I-A-2-1 0.00 0.00 0.00 0.00 I-A-2-2 0.00 0.00 0.00 0.00 I-A-3 0.00 0.00 0.00 0.00 I-A-4 0.00 ~~19,479,389~~0.4000 119,~~840~~570,~~058~~212.4506 0.00 II-A 0.00 0.00 2,~~478~~491,~~449~~541.3665 ~~804,758.73~~ 0.00 R-I 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 I-X 0.00 0.00 1413,~~133~~113.8123 0.00 B-1 0.00 0.00 2,~~411~~424,~~400~~248.4701 ~~130,087.92~~ 0.00 B-2 0.00 0.00 1,~~653~~662,~~531~~341.7549 ~~89,203.14~~ 0.00 B-3 0.00 0.00 1,~~515~~523,~~737~~813.4404 ~~81,769.55~~ 0.00 B-4 0.00 0.00 1,~~240~~246,~~148~~756.8112 ~~66,902.36~~ 0.00 B-5 0.00 ~~551,177~~0.2500 29554,~~734~~113.3883 0.00 B-6 147,839.68 0.00 ~~431~~285,~~239~~697.3321 23285,~~264~~689.0967 ~~137~~Totals 147,~~849~~839.9868 ~~Totals~~ 0.00 29,~~761~~771,~~073~~836.8164 3285,~~079,912~~689.4367 ~~137,849.98~~ 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) I-A-1 40,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-2-1 50,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-2-2 12,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-3 88,000,000.00 0.00 0.00 0.00 0.00 0.00 I-A-4 54,244,000.00 2119,~~220~~479,~~507~~389.2340 2119,~~795~~930.8161 119,~~719~~459,~~322~~458.0278 0.00 0.00 II-A 50,568,500.00 32,~~265~~478,~~787~~449.0936 32,~~405~~759.4054 ~~783~~2,~~932~~475,689.3482 0.00 0.00 R-I 50.00 0.00 0.00 0.00 0.00 0.00 R-II 50.00 0.00 0.00 0.00 0.00 0.00 I-X 0.00 0.00 0.00 0.00 0.00 0.00 B-1 5,474,000.00 2,~~528~~411,~~015~~400.4347 2,~~602~~499.7435 ~~114~~2,~~012~~408,901.2212 0.00 0.00 B-2 3,753,600.00 1,~~733~~653,~~496~~531.2975 1,~~784~~713.7484 781,~~179~~651,817.8191 0.00 0.00 B-3 3,440,800.00 1,~~589~~515,~~038~~737.2744 1,~~636~~571.0102 711,~~664~~514,166.8242 0.00 0.00 B-4 2,815,200.00 1,~~300~~240,~~122~~148.2281 1,~~338~~285.5538 581,~~634~~238,863.8643 0.00 0.00 B-5 1,251,200.00 ~~577~~551,~~832~~177.1025 ~~594~~571.9128 26550,~~059~~605.9497 0.00 0.00 B-6 1,251,244.31 ~~452~~431,~~094~~239.0033 ~~465~~446.4697 20282,~~389~~952.2167 0.00 0147,839.0068 Totals 312,798,644.31 3229,~~666~~761,~~892~~073.6381 3330,~~623~~777.6299 229,~~872~~582,~~195~~456.2212 0.00 0147,839.0068 (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 I-A-1 0.00 0.00 0.00000000 0.00 I-A-2-1 0.00 0.00 0.00000000 0.00 I-A-2-2 0.00 0.00 0.00000000 0.00 I-A-3 0.00 0.00 0.00000000 0.00 I-A-4 ~~1,741,117.83~~ 19,479,389.40 0.~~35910680~~00 10.00000000 19,~~741~~479,~~117~~389.8340 II-A ~~787,337.73~~ 2,478,449.36 0.~~04901172~~00 ~~787~~0.00000000 2,~~337~~478,449.7336 R-I 0.00 0.00 0.00000000 0.00 R-II 0.00 0.00 0.00000000 0.00 I-X 0.00 0.00 0.00000000 0.00 B-1 ~~116,614.96~~ 2,411,400.47 0.~~44051890~~00 ~~116~~0.00000000 2,~~614~~411,400.9647 B-2 ~~79,964.54~~ 1,653,531.75 0.~~44051890~~00 790.00000000 1,~~964~~653,531.5475 B-3 ~~73,300.83~~ 1,515,737.44 0.~~44051890~~00 730.00000000 1,~~300~~515,737.8344 B-4 ~~59,973.41~~ 1,240,148.81 0.~~44051890~~00 590.00000000 1,~~973~~240,148.4181 B-5 ~~26,654.85~~ 551,177.25 0.~~44051890~~00 260.00000000 551,~~654~~177.8525 B-6 ~~20,854.67~~ 431,239.3332 0.~~34464838~~00 ~~20,854~~0.6700000000 ~~Totals 2~~283,~~905,818~~399.8264 Totals 29,761,073.8180 0.~~09514451~~00 20.00000000 29,~~905~~613,~~818~~234.8212

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion I-A-1 40,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 50,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 12,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 88,000,000.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 54,244,000.00 ~~391~~359.~~20469047~~10680260 0.~~40181052~~36742515 31358.~~69607735~~73937726 0.00000000 II-A 50,568,500.00 6449.~~58145071~~01172390 0.~~06734232~~05457034 1548.~~50238469~~95715356 0.00000000 R-I 50.00 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 5,474,000.00 ~~461~~440.~~82232919~~51890208 0.~~47547315~~45658568 20440.~~82795396~~06231640 0.00000000 B-2 3,753,600.00 ~~461~~440.~~82232790~~51890185 0.~~47547421~~45658568 20440.~~82795450~~06231618 0.00000000 B-3 3,440,800.00 ~~461~~440.~~82232911~~51890258 0.~~47547373~~45658568 20440.~~82795280~~06231690 0.00000000 B-4 2,815,200.00 ~~461~~440.~~82232879~~51890097 0.~~47547244~~45658568 20440.~~82795539~~06231529 0.00000000 B-5 1,251,200.00 ~~461~~440.~~82233056~~51890185 0.~~47547155~~45658568 20440.~~82795716~~06231618 0.00000000 B-6 1,251,244.31 ~~361~~344.~~31552918~~64838445 0.~~37199770~~35722041 16226.~~29514703~~13702835 0.00000000 2) All Senior Certificates are per $1,000 denomination, all Subordinate Classes are $25,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution I-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 0.00000000 ~~32.09788788~~ 359.10680260 0.~~35910680~~00000000 320.~~09788788~~00000000 359.10680260 II-A 0.00000000 ~~15.56972681~~ 49.01172390 0.~~04901172~~00000000 150.~~56972681~~00000000 49.01172390 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 ~~21.30342711~~ 440.51890208 0.~~44051890~~00000000 210.~~30342711~~00000000 440.51890208 B-2 0.00000000 ~~21.30342604~~ 440.51890185 0.~~44051890~~00000000 210.~~30342604~~00000000 440.51890185 B-3 0.00000000 ~~21.30342653~~ 440.51890258 0.~~44051890~~00000000 210.~~30342653~~00000000 440.51890258 B-4 0.00000000 ~~21.30342782~~ 440.51890097 0.~~44051890~~00000000 210.~~30342782~~00000000 440.51890097 B-5 0.00000000 ~~21.30342871~~ 440.51890185 0.~~44051890~~00000000 210.~~30342871~~00000000 440.51890185 B-6 0118.~~00000000~~15412771 16344.~~66714472~~64837646 ~~344~~0.~~64838445~~00000000 0.~~34464838~~00000000 16226.~~66714472~~49424875 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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 I-A-1 40,000,000.00 20.~~78000~~00000% 0.00 0.00 0.00 0.00 I-A-2-1 50,000,000.00 30.~~53000~~00000% 0.00 0.00 0.00 0.00 I-A-2-2 12,000,000.00 30.~~90000~~00000% 0.00 0.00 0.00 0.00 I-A-3 88,000,000.00 50.~~70000~~00000% 0.00 0.00 0.00 0.00 I-A-4 54,244,000.00 5.59500% 2119,~~220~~479,~~507~~389.2340 9890,~~940~~822.6165 0.00 0.00 II-A 50,568,500.00 6.~~40128~~33894% 32,~~265~~478,~~787~~449.0936 1713,~~421~~092.0029 0.00 0.00 R-I 50.00 60.~~35717~~00000% 0.00 0.00 0.00 0.00 R-II 50.00 60.~~35717~~00000% 0.00 0.00 0.00 0.00 I-X 0.00 0.~~79925~~80782% 2119,~~220~~479,~~507~~389.2340 1413,~~133~~113.8123 0.00 0.00 B-1 5,474,000.00 6.~~39535~~39340% 2,~~528~~411,~~015~~400.4347 1312,~~472~~847.9654 0.00 0.00 B-2 3,753,600.00 6.~~39535~~39340% 1,~~733~~653,~~496~~531.2975 98,~~238~~809.6074 0.00 0.00 B-3 3,440,800.00 6.~~39535~~39340% 1,~~589~~515,~~038~~737.2744 8,~~468~~075.7260 0.00 0.00 B-4 2,815,200.00 6.~~39535~~39340% 1,~~300~~240,~~122~~148.2281 6,~~928~~607.9531 0.00 0.00 B-5 1,251,200.00 6.~~39535~~39340% ~~577~~551,~~832~~177.1025 32,~~079~~936.5358 0.00 0.00 B-6 1,251,244.31 6.~~39535~~39340% ~~452~~431,~~094~~239.0033 2,~~409~~297.4257 0.00 0.00 Totals 312,798,644.31 ~~174~~158,~~093~~602.6051 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 I-A-1 0.00 0.00 0.00 0.00 0.00 I-A-2-1 0.00 0.00 0.00 0.00 0.00 I-A-2-2 0.00 0.00 0.00 0.00 0.00 I-A-3 0.00 0.00 0.00 0.00 0.00 I-A-4 0.00 0.00 9890,~~940~~822.6266 0.00 ~~19,479,389~~0.4000 II-A 0.00 0.00 1713,~~421~~092.0029 0.00 ~~2,478,449~~0.3600 R-I 0.00 0.00 0.00 0.00 0.00 R-II 0.00 0.00 0.00 0.00 0.00 I-X 0.00 0.00 1413,~~133~~113.8123 0.00 ~~19,479,389~~0.4000 B-1 0.00 0.00 1312,~~472~~847.9654 0.00 ~~2,411,400~~0.4700 B-2 0.00 0.00 98,~~238~~809.6074 0.00 ~~1,653,531~~0.7500 B-3 0.00 0.00 8,~~468~~075.7260 0.00 ~~1,515,737~~0.4400 B-4 0.00 0.00 6,~~928~~607.9531 0.00 ~~1,240,148~~0.8100 B-5 0.00 0.00 32,~~079~~936.5358 0.00 ~~551,177~~0.2500 B-6 0.00 0.00 2,~~409~~297.4257 0.00 ~~431,239~~0.3300 Totals 0.00 0.00 ~~174~~158,~~093~~602.6152 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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 I-A-1 40,000,000.00 20.~~78000~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 50,000,000.00 30.~~53000~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 12,000,000.00 30.~~90000~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 88,000,000.00 50.~~70000~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 54,244,000.00 5.59500% ~~391~~359.~~20469047~~10680260 1.~~82399178~~67433541 0.00000000 0.00000000 II-A 50,568,500.00 6.~~40128~~33894% 6449.~~58145071~~01172390 0.~~34450300~~25890208 0.00000000 0.00000000 R-I 50.00 60.~~35717~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-II 50.00 60.~~35717~~00000% 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00 0.~~79925~~80782% 8679.~~88240952~~75380931 0.~~05786758~~05368906 0.00000000 0.00000000 B-1 5,474,000.00 6.~~39535~~39340% ~~461~~440.~~82232919~~51890208 2.~~46126416~~34701133 0.00000000 0.00000000 B-2 3,753,600.00 6.~~39535~~39340% ~~461~~440.~~82232790~~51890185 2.~~46126385~~34701087 0.00000000 0.00000000 B-3 3,440,800.00 6.~~39535~~39340% ~~461~~440.~~82232911~~51890258 2.~~46126482~~34701232 0.00000000 0.00000000 B-4 2,815,200.00 6.~~39535~~39340% ~~461~~440.~~82232879~~51890097 2.~~46126385~~34701265 0.00000000 0.00000000 B-5 1,251,200.00 6.~~39535~~39340% ~~461~~440.~~82233056~~51890185 2.~~46126119~~34701087 0.00000000 0.00000000 B-6 1,251,244.31 6.~~39535~~39340% ~~361~~344.~~31552918~~64838445 1.~~92561915~~83622813 0.00000000 0.00000000 5) All Senior Certificates are per $1,000 denomination, all 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 I-A-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-2-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A-4 0.00000000 0.00000000 1.~~82399196~~67433559 0.00000000 ~~359~~0.~~10680260~~00000000 II-A 0.00000000 0.00000000 0.~~34450300~~25890208 0.00000000 490.~~01172390~~00000000 R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-X 0.00000000 0.00000000 0.~~05786758~~05368906 0.00000000 790.~~75380931~~00000000 B-1 0.00000000 0.00000000 2.~~46126416~~34701133 0.00000000 ~~440~~0.~~51890208~~00000000 B-2 0.00000000 0.00000000 2.~~46126385~~34701087 0.00000000 ~~440~~0.~~51890185~~00000000 B-3 0.00000000 0.00000000 2.~~46126482~~34701232 0.00000000 ~~440~~0.~~51890258~~00000000 B-4 0.00000000 0.00000000 2.~~46126385~~34701265 0.00000000 ~~440~~0.~~51890097~~00000000 B-5 0.00000000 0.00000000 2.~~46126119~~34701087 0.00000000 ~~440~~0.~~51890185~~00000000 B-6 0.00000000 0.00000000 1.~~92561915~~83622813 0.00000000 ~~344~~0.~~64838445~~00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,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 329,~~093~~926,~~206~~285.3341 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 1114,~~503~~443.8713 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(147,839.0068) Prepayment Penalties 0.00 Total Deposits 329,~~104~~792,~~710~~888.2086 Withdrawals Reimbursement for Servicer Advances 1411,~~317~~503.1487 Payment of Service Fee 109,~~480~~548.6234 Payment of Interest and Principal 329,~~079~~771,~~912~~836.4465 Total Withdrawals (Pool Distribution Amount) 329,~~104~~792,~~710~~888.2086 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 109,~~208~~300.4133 Master Servicing Fee ~~272~~248.2101 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 109,~~480~~548.6234

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 0 1 0 0 0 1 ~~486,058.97~~ 0.00 273,160.49 0.00 0.00 ~~486~~273,~~058~~160.9749 60 Days 02 0 0 0 02 0660,637.0014 0.00 0.00 0.00 0660,637.0014 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 10 0 10 0.00 0.00 ~~129,697~~0.7200 0.00 ~~129,697~~0.7200 180+ Days 0 0 12 1 23 0.00 0.00 ~~594~~723,~~032~~730.5022 659,266.91 1,~~253~~382,~~299~~997.4113 Totals 2 1 0 2 1 46 ~~486~~660,~~058~~637.9714 0273,160.0049 723,730.22 659,266.91 12,~~869~~316,~~056~~794.1076 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 10.000000% 01.~~000000~~030928% 0.000000% 0.000000% 1.~~000000~~030928% 10.~~630133~~000000% 0.~~000000~~938211% 0.000000% 0.000000% 10.~~630133~~938211% 60 Days 02.~~000000~~061856% 0.000000% 0.000000% 0.000000% 02.~~000000~~061856% 02.~~000000~~269059% 0.000000% 0.000000% 0.000000% 02.~~000000~~269059% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 10.000000% 0.000000% 10.000000% 0.000000% 0.000000% 0.~~434977~~000000% 0.000000% 0.~~434977~~000000% 180+ Days 0.000000% 0.000000% 12.~~000000~~061856% 1.~~000000~~030928% 23.~~000000~~092784% 0.000000% 0.000000% 12.~~992252~~485761% 2.~~211034~~264352% 4.~~203287~~750114% Totals 12.~~000000~~061856% 01.~~000000~~030928% 2.~~000000~~061856% 1.~~000000~~030928% 46.~~000000~~185567% 12.~~630133~~269059% 0.~~000000~~938211% 2.~~427230~~485761% 2.~~211034~~264352% 67.~~268397~~957383%

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 ~~486,058~~0.9700 0.00 0.00 0.00 ~~486,058~~0.9700 60 Days 01 0 0 0 01 0486,058.0097 0.00 0.00 0.00 0486,058.0097 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 10 0 10 0.00 0.00 ~~129,697~~0.7200 0.00 ~~129,697~~0.7200 180 Days 0 0 12 1 23 0.00 0.00 ~~594~~723,~~032~~730.5022 659,266.91 1,~~253~~382,~~299~~997.4113 Totals 1 0 2 1 4 486,058.97 0.00 723,730.22 659,266.91 1,869,056.10 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~176471~~000000% 0.000000% 0.000000% 0.000000% 10.~~176471~~000000% 10.~~856272~~000000% 0.000000% 0.000000% 0.000000% 10.~~856272~~000000% 60 Days 01.~~000000~~219512% 0.000000% 0.000000% 0.000000% 01.~~000000~~219512% 01.~~000000~~907188% 0.000000% 0.000000% 0.000000% 01.~~000000~~907188% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 10.~~176471~~000000% 0.000000% 10.~~176471~~000000% 0.000000% 0.000000% 0.~~495319~~000000% 0.000000% 0.~~495319~~000000% 180 Days 0.000000% 0.000000% 12.~~176471~~439024% 1.~~176471~~219512% 23.~~352941~~658537% 0.000000% 0.000000% 2.~~268625~~839757% 2.~~517757~~586818% 45.~~786383~~426575% Totals 1.~~176471~~219512% 0.000000% 2.~~352941~~439024% 1.~~176471~~219512% 4.~~705882~~878049% 1.~~856272~~907188% 0.000000% 2.~~763944~~839757% 2.~~517757~~586818% 7.~~137973~~333763% 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 0 01 0 0 01 0.00 0273,160.0049 0.00 0.00 0273,160.0049 60 Days 01 0 0 0 01 0174,578.0017 0.00 0.00 0.00 0174,578.0017 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 01 01 0 0 02 0174,578.0017 0273,160.0049 0.00 0.00 0447,738.0066 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 06.~~000000~~666667% 0.000000% 0.000000% 06.~~000000~~666667% 0.000000% 07.~~000000~~526333% 0.000000% 0.000000% 07.~~000000~~526333% 60 Days 06.~~000000~~666667% 0.000000% 0.000000% 0.000000% 06.~~000000~~666667% 04.~~000000~~810116% 0.000000% 0.000000% 0.000000% 04.~~000000~~810116% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 06.~~000000~~666667% 06.~~000000~~666667% 0.000000% 0.000000% 013.~~000000~~333333% 04.~~000000~~810116% 07.~~000000~~526333% 0.000000% 0.000000% 012.~~000000~~336449%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 1114,~~503~~443.8713

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 272,798,644.31 87.21222079% ~~29,761,073~~0.8100 ~~100~~0.00000000% 730.~~780398~~000000% 87.~~731390~~271348% Class IA3 122,798,644.31 39.25804876% ~~29,761,073~~0.8100 ~~100~~0.00000000% 0.000000% 0.000000% Class IA4 68,554,644.31 21.91654138% ~~10,281,684~~0.4100 340.~~54742418~~00000000% 650.~~452576~~000000% 300.~~626404~~000000% Class 2A 17,986,144.31 5.75007106% ~~7,803,235~~0.0500 260.~~21960182~~00000000% 80.~~327822~~000000% 30.~~896734~~000000% Class R-I 17,986,094.31 5.75005507% ~~7,803,235~~0.0500 260.~~21960182~~00000000% 0.000000% 0.000000% Class R-II 17,986,044.31 5.75003909% ~~7,803,235~~0.0500 260.~~21960182~~00000000% 0.000000% 0.000000% Class X 17,986,044.31 5.75003909% ~~7,803,235~~0.0500 260.~~21960182~~00000000% 0.000000% 0.000000% Class B-1 12,512,044.31 4.00003150% ~~5,391,834~~0.5800 180.~~11707002~~00000000% 80.~~102532~~000000% 30.~~791316~~000000% Class B-2 8,758,444.31 2.80002630% ~~3,738,302~~0.8300 120.~~56104821~~00000000% 50.~~556022~~000000% 20.~~599760~~000000% Class B-3 5,317,644.31 1.70002153% ~~2,222,565~~0.3900 70.~~46802822~~00000000% 50.~~093020~~000000% 20.~~383113~~000000% Class B-4 2,502,444.31 0.80001763% ~~982,416~~0.5800 30.~~30101187~~00000000% 40.~~167016~~000000% 10.~~949820~~000000% Class B-5 1,251,244.31 0.40001590% ~~431,239~~0.3300 10.~~44900460~~00000000% 10.~~852007~~000000% 0.~~866587~~000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 10.~~449005~~000000% 0.~~678015~~000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 6.~~780231~~780032% Weighted Average Net Coupon 6.~~405231~~405032% Weighted Average Pass-Through Rate 6.~~395231~~395032% Weighted Average Maturity( Stepdown Calculation ) ~~329~~0 Beginning Scheduled Collateral Loan Count ~~111~~100 Number Of Loans Paid In Full 113 Ending Scheduled Collateral Loan Count ~~100~~97 Beginning Scheduled Collateral Balance 3229,~~666~~761,~~892~~073.6481 Ending Scheduled Collateral Balance ~~29,761,073~~0.8100 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 29,~~817~~115,~~129~~032.9955 Monthly P &I Constant ~~218~~198,~~197~~928.8486 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0147,839.0068 Cumulative Realized Loss ~~137~~285,~~849~~689.9866 Class A Optimal Amount 222,~~658~~074,~~950~~866.9993 Ending Scheduled Balance for Premium Loans ~~29,761,073~~0.8100 Scheduled Principal 3330,~~623~~778.6100 Unscheduled Principal 229,~~872~~730,~~195~~295.2281

Miscellaneous Reporting Senior Percentage Group 1 7574.~~462779~~542696% Senior Prepayment Percentage Group 1 87.~~731390~~271348% Subordinate Percentage Group 1 2425.~~537221~~457304% Subordinate Prepayment Pct Group 1 12.~~268610~~728652% Average Loss Severity Group 1 0147,839.68 Senior Percentage Group 2 7168.~~832415~~291545% Senior Prepayment Percentage Group 2 8584.~~916207~~145772% Subordinate Percentage Group 2 2831.~~167585~~708455% Subordinate Prepayment Pct Group 2 1415.~~083793~~854228% Average Loss Severity Group 2 0

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 6.~~779254~~787822 6.~~786275~~723944 6.~~780231~~780032 Weighted Average Net Rate 6.~~404254~~412822 6.~~411275~~348944 6.~~405231~~405032 Weighted Average Maturity ~~329~~328 ~~329~~328 ~~329~~0 Beginning Loan Count 9385 1815 ~~111~~100 Loans Paid In Full 8 3 110 3 Ending Loan Count 8582 15 ~~100~~97 Beginning Scheduled Balance 2826,~~120~~131,~~495~~855.1734 43,~~546~~629,~~397~~218.47 3229,~~666~~761,~~892~~073.6481 Ending scheduled Balance ~~26,131,855~~0.3400 ~~3,629,218~~0.4700 ~~29,761,073~~0.8100 Record Date 0708/31/2004 0708/31/2004 0708/31/2004 Principal And Interest Constant ~~187~~174,~~746~~552.1749 3024,~~451~~376.6737 ~~218~~198,~~197~~928.8486 Scheduled Principal 2826,~~882~~737.8618 4,~~740~~040.7582 3330,~~623~~778.6100 Unscheduled Principal 126,~~959~~105,~~756~~118.9716 ~~912~~3,~~438~~625,177.2565 229,~~872~~730,~~195~~295.2281 Scheduled Interest ~~158~~147,~~863~~815.31 2520,~~710~~335.9255 ~~184~~168,~~574~~150.2386 Servicing Fees 8,~~787~~166.6620 1,~~420~~134.7513 109,~~208~~300.4133 Master Servicing Fees ~~234~~217.3376 3730.8825 ~~272~~248.2101 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 ~~149~~139,~~841~~431.3235 2419,~~252~~171.2917 ~~174~~158,~~093~~602.6152 Realized Loss Amount 0147,839.0068 0.00 0147,839.0068 Cumulative Realized Loss 0147,839.0068 137,849.98 ~~137~~285,~~849~~689.9866 Percentage of Cumulative Losses 0.~~0000~~0570 0.2569 0.~~0441~~0913 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~394254~~402822 6.~~401275~~338944 6.~~395231~~395032

Filing Compare · BEAR STEARNS ALT A TR MORTGAGE PASS THR CERT SERIES 2002-1