8-K 1 cwa02sc1_8k0212.txt 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 25, 2002 CWA (Depositor) (Issuer in respect of Asset Backed Certificates, Series 2002-SC1) (Exact name of registrant as specified in charter) Delaware 33-63714 95-4449516 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) , , N/A 91110-7137 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (818)-304-4428 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Item 5. Other Events CWA Asset Backed Certificates Series 2002-SC1 On December 25, 2002, The Bank of New York, as Trustee for CWA, Asset Backed Certificates Series 2002-SC1, made a monthly distribution to Certificate holders of principal and/or interest pursuant to the Pooling and Servicing Agreement, dated as of September 1, 2002, among CWA as Depositor, Countrywide Home Loans Servicing LP, Seller and Master Servicer and The Bank of New York, as Trustee. Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99 Report to Holders of CWA, Asset Backed Certificates Series 2002-SC1 relating to the distribution date of December 25, 2002 prepared by The Bank of New York, as Trustee under the Pooling and Servicing Agreement dated as of September 1, 2002. SIGNATURES 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 thereunto duly authorized. Dated: December 25, 2002 CWA By: /s/ Courtney Bartholomew ------------------------------ Name: Courtney Bartholomew Vice President The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated December 25, 2002 Payment Date: 12/25/02 ------------------------------------------------------------ Countrywide Home Loans Servicing LP Asset Backed Certificates, Series 2002-SC1 ------------------------------------------------------------

Class Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior A1 ~~120~~116,~~102~~919,~~491~~847.9325 21.~~000000~~550000% 3,~~182~~319,~~644~~521.6879 ~~206~~156,~~843~~055.1852 3,~~389~~475,~~487~~577.8631 0.00 0.00 A2 20,655,000.00 3.330000% 0.00 57,317.63 57,317.63 0.00 0.00 A3 40,000,000.00 4.959000% 0.00 165,300.00 165,300.00 0.00 0.00 A4 12,510,000.00 4.275000% 0.00 44,566.88 44,566.88 0.00 0.00 A5 12,898,000.00 5.445000% 0.00 58,524.68 58,524.68 0.00 0.00 AIO ~~253~~250,~~340~~157,~~491~~847.9325 4.~~614006~~813389% 0.00 ~~974~~1,~~100~~003,424.5985 ~~974~~1,~~100~~003,424.5985 0.00 0.00 Residual AR 0.00 3.330000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate M1 21,037,000.00 5.216000% 0.00 91,440.83 91,440.83 0.00 0.00 M2 14,663,000.00 5.799000% 0.00 70,858.95 70,858.95 0.00 0.00 B1 11,475,000.00 6.669000% 0.00 63,772.31 63,772.31 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - ~~253~~250,~~340~~157,~~491~~847.9325 - 3,~~182~~319,~~644~~521.6879 1,~~732~~711,~~725~~261.0363 45,~~915~~030,~~369~~783.7142 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 ~~116~~113,~~919~~600,~~847~~325.2546 0.00 A2 20,655,000.00 0.00 A3 40,000,000.00 0.00 A4 12,510,000.00 0.00 A5 12,898,000.00 0.00 AIO ~~250~~246,~~157~~838,~~847~~325.2546 0.00 Residual AR 0.00 0.00 -------------------------------------------------------------------------------- Subordinate M1 21,037,000.00 0.00 M2 14,663,000.00 0.00 B1 11,475,000.00 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - ~~250~~246,~~157~~838,~~847~~325.2546 - --------------------------------------------------------------------------------

Payment Date: 12/25/02 ------------------------------------------------------------ Countrywide Home Loans Servicing LP Asset Backed Certificates, Series 2002-SC1 ------------------------------------------------------------

Class Information Current Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior A1 ~~120~~116,~~102~~919,~~491~~847.9325 21.~~000000~~550000% 126671RZ1 2627.~~138242~~262379 1.~~698750~~281644 ~~960~~932.~~232644~~970265 A2 20,655,000.00 3.330000% 126671SA5 0.000000 2.775000 1,000.000000 A3 40,000,000.00 4.959000% 126671SB3 0.000000 4.132500 1,000.000000 A4 12,510,000.00 4.275000% 126671SG2 0.000000 3.562500 1,000.000000 A5 12,898,000.00 5.445000% 126671SH0 0.000000 4.537500 1,000.000000 AIO ~~253~~250,~~340~~157,~~491~~847.9325 4.~~614006~~813389% 126671SC1 0.000000 3.~~820001~~934998 ~~981~~967.~~010781~~993054 Residual AR 0.00 3.330000% 126671SQ0 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate M1 21,037,000.00 5.216000% 126671SD9 0.000000 4.346667 1,000.000000 M2 14,663,000.00 5.799000% 126671SE7 0.000000 4.832500 1,000.000000 B1 11,475,000.00 6.669000% 126671SF4 0.000000 5.557500 1,000.000000 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - ~~253~~250,~~340~~157,~~491~~847.9325 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ Countrywide Home Loans Servicing LP Asset Backed Certificates, Series 2002-SC1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 246,838,325.46 246,838,325.46 Loan count 5952 5952 Avg loan rate 11.237862% 11.24 Prepay amount 3,167,004.44 3,167,004.44 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 100,734.37 100,734.37 Sub servicer fees 0.00 0.00 Trustee fees 1,876.18 1,876.18 Agg advances N/A N/A Adv this period 108,770.01 108,770.01 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 Cumulative losses 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 Fraud 5,100,002.00 5,100,002.00 Special Hazard 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 81.141907% 100.000000% 202,982,847.25 ----------------------------------------------------------------------------- Junior 18.858093% 0.000000% 47,175,000.00 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 230 7,906,104.80 60 to 89 days 57 1,811,978.04 90 or more 22 644,837.09 Foreclosure 0 0.00 Totals: 309 10,362,919.93 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 5,030,783.42 5,030,783.42 Principal remittance amount 3,319,521.79 3,319,521.79 Interest remittance amount 1,711,261.63 1,711,261.63

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