8-K 1 centex_septoct02.txt STATEMENT TO CERTIFICATEHOLDERS 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 25, 2002 CHEC FUNDING LLC, (as depositor under the Pooling and Servicing Agreement, dated August 1, 2002 providing for the issuance of Centex Home Equity Loan Trust 2002-C. CHEC FUNDING LLC (Exact name of registrant as specified in its charter) Delaware 333-69800-03 76-2851805 (State or other (Commission File Number) (IRS Employer jurisdiction of Identification No.) incorporation) 2728 North Harwood Dallas, Texas 75201 (Address pof principal executive offices) (Zip Code) Registrant's telephone number, including area code : (214) 981-6811 N/A (Former name or former address, if changed since last report.) Item 5. Other Events. This report and the attached exhibit is being filed pursuant to "no-action" positions taken by the Securities and Exchange Commission with respect to alternative means of satisfying the Registrant's reporting obligations under the Securities Exchange Act of 1934, as amended, with respect to the Registrant's Centex Home Equity Loan Trust 2002-C (the "Certificates"). The Certificates were issued, and this report and exhibit is being filed, pursuant to the terms of the Pooling and Servicing Agreement, dated as of March 1, 2002 ( the "Agreement"), among CHEC Funding, LLC, as Depositor, Centex Home Equity Company, LLC, as Seller, Harwood Street Funding II LLC, as Conduit Seller, Centex Home Equity Company, LLC, as Servicer, and JPMorgan Chase Bank, as Trustee. On September 25, 2002 and October 25, 2002 distributions were made to the Certificateholders. Specific information with respect to these distributions is filed as Exhibits 99.1 and 99.2. No other reportable transactions or matters have occurred during the current reporting period. Item 7. Financial Statements and Exhibits. (a) Not applicable (b) Not applicable (c) The following exhibit is filed as part of this report: Statement to Certificateholders on September 25, 2002 as Exhibit 99.1. Statement to Certificateholders on October 25, 2002 as Exhibit 99.2. -2- CHEC FUNDING LLC Centex Home Equity Loan Trust 2002-C ------------------------------------------------------------------------------- SIGNATURE 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. JPMorgan Chase Bank, not in its individual capacity but solely as Trustee under the Agreement referred to herein Date: October 29, 2002 By: /s/ Mark W. McDermott -------------------------------------------- Mark W. McDermott Assistant Vice President -3- INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Statement to Certificateholders September 25, 2002 99.2 Statement to Certificateholders October 25, 2002 -4- Exhibit 99.1 Statement to Certificateholders September 25, 2002 -5- Centex Home Equity Loan Trust 2002-C STATEMENT TO CERTIFICATEHOLDERS September 25, 2002 ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ----------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- AF_1 69,000,000.00 69,000,000.00 1,236,562.53 137,425.00 1,373,987.53 0.00 0.00 67,763,437.47 AF_2 18,000,000.00 18,000,000.00 0.00 43,050.00 43,050.00 0.00 0.00 18,000,000.00 AF_3 40,000,000.00 40,000,000.00 0.00 118,666.67 118,666.67 0.00 0.00 40,000,000.00 AF_4 60,800,000.00 60,800,000.00 0.00 226,986.67 226,986.67 0.00 0.00 60,800,000.00 AF_5 5,800,000.00 5,800,000.00 0.00 23,731.67 23,731.67 0.00 0.00 5,800,000.00 AF_6 21,000,000.00 21,000,000.00 0.00 78,750.00 78,750.00 0.00 0.00 21,000,000.00 AV 263,900,000.00 263,900,000.00 3,234,834.21 640,397.33 3,875,231.54 0.00 0.00 260,665,165.79 M_1 42,050,000.00 42,050,000.00 0.00 119,211.75 119,211.75 0.00 0.00 42,050,000.00 M_2 26,100,000.00 26,100,000.00 0.00 89,218.50 89,218.50 0.00 0.00 26,100,000.00 B_1 26,100,000.00 26,100,000.00 0.00 112,056.00 112,056.00 0.00 0.00 26,100,000.00 B_2 7,250,000.00 7,250,000.00 0.00 33,241.25 33,241.25 0.00 0.00 7,250,000.00 R_1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTALS 580,000,000.00 580,000,000.00 4,471,396.74 1,622,734.84 6,094,131.58 0.00 0.00 575,528,603.26 AIO_I 90,000,000.00 90,000,000.00 0.00 450,000.00 450,000.00 0.00 0.00 90,000,000.00 AIO_II 120,000,000.00 120,000,000.00 0.00 600,000.00 600,000.00 0.00 0.00 120,000,000.00 X_IO 7,243.94 7,243.94 0.00 1,792,219.89 1,792,219.89 0.00 0.00 7,243.94 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- ------------------------ FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ------------------------ CURRENT BEGINNING ENDING PASS-THRU CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE --------------------------------------------------------------------------------------------------------- ------------------------ AF_1 152314FJ4 1,000.00000000 17.92119609 1.99166667 19.91286275 982.07880391 AF_1 2.390000 % AF_2 152314FK1 1,000.00000000 0.00000000 2.39166667 2.39166667 1,000.00000000 AF_2 2.870000 % AF_3 152314FL9 1,000.00000000 0.00000000 2.96666675 2.96666675 1,000.00000000 AF_3 3.560000 % AF_4 152314FM7 1,000.00000000 0.00000000 3.73333339 3.73333339 1,000.00000000 AF_4 4.480000 % AF_5 152314FN5 1,000.00000000 0.00000000 4.09166724 4.09166724 1,000.00000000 AF_5 4.910000 % AF_6 152314FP0 1,000.00000000 0.00000000 3.75000000 3.75000000 1,000.00000000 AF_6 4.500000 % AV 152314 FR6 1,000.00000000 12.25780299 2.42666665 14.68446965 987.74219701 AV 2.080000 % M_1 152314 FS4 1,000.00000000 0.00000000 2.83500000 2.83500000 1,000.00000000 M_1 2.430000 % M_2 152314 FT2 1,000.00000000 0.00000000 3.41833333 3.41833333 1,000.00000000 M_2 2.930000 % B_1 152314 FU9 1,000.00000000 0.00000000 4.29333333 4.29333333 1,000.00000000 B_1 3.680000 % B_2 152314 FV7 1,000.00000000 0.00000000 4.58500000 4.58500000 1,000.00000000 B_2 3.930000 % TOTALS 1,000.00000000 7.70930472 2.79781869 10.50712341 992.29069528 AIO_I N/A 1,000.00000000 0.00000000 5.00000000 5.00000000 1,000.00000000 AIO_I 6.000000 % AIO_II N/A 1,000.00000000 0.00000000 5.00000000 5.00000000 1,000.00000000 AIO_II 6.000000 % X_IO N/A 1,000.00000000 0.00000000 #### #### 1,000.00000000 X_IO 0.000000 % -------------------------------------------------------------------------------------------------------- ------------------------ If there are any questions or problems with this statement, please contact the Administrator listed below: --------------------------------------- Sora Jun JPMorgan Chase Bank - Structured Finance Services 450 W. 33rd Street, 8th Floor, New York, New York 10001 Tel: (212) 946-3669 Fax: (212) 946-3916 Email: Sora.jun@chase.com --------------------------------------- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. -6- Centex Home Equity Loan Trust 2002-C STATEMENT TO CERTIFICATEHOLDERS September 25, 2002 -------------------------- Sec. 7.09(ii) Distributions Allocable to Principal Group I Scheduled Monthly Payments 232,330.92 Curtailments 41,139.45 Prepayments in Full 964,377.00 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Group II Scheduled Monthly Payments 180,546.51 Curtailments 204,499.17 Prepayments in Full 2,855,747.63 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Subordination Increase Amount 0.00 Excess Overcollateralization Amount 7,243.94 Sec. 7.09(iv) Class Interest Carryover Shortfall Class AF-1 0.00 Class AF-2 0.00 Class AF-3 0.00 Class AF-4 0.00 Class AF-5 0.00 Class AF-6 0.00 Class AV 0.00 Class M-1 0.00 Class M-2 0.00 Class B-1 0.00 Class B-2 0.00 Sec. 7.09(v) Class Principal Carryover Shortfall Subordinate Certificates Class M-1 0.00 Class M-2 0.00 Class B-1 0.00 Class B-2 0.00 Sec. 7.09(vi) Aggregate Loan Balance of Each Group Group I Beginning Aggregate Loan Balance 4,601,284.84 Group I Ending Aggregate Loan Balance 3,363,437.47 Group II Beginning Aggregate Loan Balance 5,405,959.10 Group II Ending Aggregate Loan Balance 2,165,165.79 Sec. 7.09(vii) Overcollateralization Total Overcollateralization Amount 0.00 Total Required Overcollateralization Amount 0.00 Sec. 7.09(viii) Internal Revenue Code Section 6049(d)(7)(C) Market Discount Information Sec. 7.09(ix) Substitution Amounts Group I 0.00 Group II 0.00 Sec. 7.09(ix) Loan Purchase Price Amounts Group I 0.00 Group II 0.00 Sec. 7.09(x) Weighted Average Net Coupon Rate Group I 9.5482 % Group II 9.0315 % Sec. 7.09(xi) Monthly Remittance Amount Group I 2,945,901.92 Group II 5,991,441.25 Sec. 7.09(xiii) Weighted Average Gross Margin - Group II Loans 0.0000 % Sec. 7.09(xiv) Largest Loan Balance Group I 651,403.48 Group II 599,671.58 Sec. 7.09(xv) Basic Principal Amount Group I 1,237,847.37 Sec. 7.09(xvi) Net Wac Cap Carryover Paid Group I 0.00 Group II 0.00 Sec. 7.09(xvi) Remaining Net Wac Cap Carryover Group I 0.00 Group II 0.00 Sec. 7.09(xviii) Net Wac Cap Group I N/A Group II Class AV Certificate 9.78 % Class M-1 Certificate 43.08 % Class M-2 Certificate 63.93 % Class B-1 Certificate 59.83 % Class B-2 Certificate 196.84 % Sec. 7.09(xix) Applied Realized Loss Amounts Subordinate Certificates Class M-1 0.00 Class M-2 0.00 Class B-1 0.00 Class B-2 0.00 Sec. 7.09(xx) Stepdown Date Has Not Occurred Sec. 7.09(b)(i) Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency (Includes Bankruptcies) Group 1 Principal Category Number Balance Percentage 1 Month 28 1,364,771.10 0.64 % 2 Month 1 35,250.00 0.02 % 3 Month 0 0.00 0.00 % Total 29 1,400,021.10 0.66 % Group 2 Principal Category Number Balance Percentage 1 Month 22 1,578,804.09 0.44 % 2 Month 3 418,401.28 0.12 % 3 Month 0 0.00 0.00 % Total 25 1,997,205.37 0.56 % Group Totals Principal Category Number Balance Percentage 1 Month 50 2,943,575.19 0.51 % 2 Month 4 453,651.28 0.08 % 3 Month 0 0.00 0.00 % Total 54 3,397,226.47 0.59 % Sec. 7.09(b)(ii) Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Sec. 7.09(b)(iii) Number and Aggregate Principal Amounts of Mortgage Loans in Bankruptcy Group 1 Principal Number Balance Percentage 4 146,657.94 0.07 % Group 2 Principal Number Balance Percentage 10 833,698.39 0.23 % Group Totals Principal Number Balance Percentage 14 980,356.33 0.17 % Sec. 7.09(b)(iii) Balloon Loans Number of Balloon Loans 198.00 Balance of Balloon Loans 13,403,925.17 Sec. 7.09(b)(iv) Number and Aggregate Principal Amounts of REO Loans Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Sec. 7.09(b)(v) Book Value of REO Loans Group I 0.00 Group II 0.00 Sec. 7.09(b)(vi) Realized Losses Group I Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Group II Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Sec. 7.09(b)(vii) Net Liquidation Proceeds Group I 0.00 Group II 0.00 Sec. 7.09(b)(viii) 60+ Delinquency Percentage (Rolling Three Month) 0.0788 % Sec. 7.09(b)(ix) Cumulative Loss Percentage Cumulative Realized Losses Since Cut-Off Date 0.00 Aggregate Loan Balance as of the Cut-Off Date 580,007,243.94 Cumulative Loss Percentage 0.00 % Sec. 7.09(b)(x) Has a Trigger Event Occurred? NO 1-Month LIBOR for Current Distribution Date 1.78 % Exhibit 99.2 Statement to Certificateholders October 25, 2002 -5- Centex Home Equity Loan Trust 2002-C STATEMENT TO CERTIFICATEHOLDERS October 25, 2002 ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ----------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE ---------------------------------------------------------------------------------------------------------------------------------- AF_1 69,000,000.00 67,763,437.47 1,677,541.67 134,962.18 1,812,503.85 0.00 0.00 66,085,895.80 AF_2 18,000,000.00 18,000,000.00 0.00 43,050.00 43,050.00 0.00 0.00 18,000,000.00 AF_3 40,000,000.00 40,000,000.00 0.00 118,666.67 118,666.67 0.00 0.00 40,000,000.00 AF_4 60,800,000.00 60,800,000.00 0.00 226,986.67 226,986.67 0.00 0.00 60,800,000.00 AF_5 5,800,000.00 5,800,000.00 0.00 23,731.67 23,731.67 0.00 0.00 5,800,000.00 AF_6 21,000,000.00 21,000,000.00 0.00 78,750.00 78,750.00 0.00 0.00 21,000,000.00 AV 263,900,000.00 260,665,165.79 3,845,200.33 459,150.83 4,304,351.16 0.00 0.00 256,819,965.46 M_1 42,050,000.00 42,050,000.00 0.00 86,333.91 86,333.91 0.00 0.00 42,050,000.00 M_2 26,100,000.00 26,100,000.00 0.00 64,461.56 64,461.56 0.00 0.00 26,100,000.00 B_1 26,100,000.00 26,100,000.00 0.00 80,774.06 80,774.06 0.00 0.00 26,100,000.00 B_2 7,250,000.00 7,250,000.00 0.00 23,947.66 23,947.66 0.00 0.00 7,250,000.00 R_1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTALS 580,000,000.00 575,528,603.26 5,522,742.00 1,340,815.21 6,863,557.21 0.00 0.00 570,005,861.26 AIO_I 90,000,000.00 87,804,000.00 0.00 439,020.00 439,020.00 0.00 0.00 82,865,000.00 AIO_II 120,000,000.00 114,065,000.00 0.00 570,325.00 570,325.00 0.00 0.00 90,155,000.00 X_IO 7,243.94 575,528,603.26 0.00 2,071,194.63 2,071,194.63 0.00 0.00 570,005,861.26 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- ------------------------ FACTOR INFORMATION PER $1,000 OF ORIGINAL FACE PASS-THROUGH RATES --------------------------------------------------------------------------------------------------------- ------------------------ CURRENT BEGINNING ENDING PASS-THRU CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL CLASS RATE --------------------------------------------------------------------------------------------------------- ------------------------ AF_1 152314FJ4 982.07880391 24.31219812 1.95597362 26.26817174 957.76660580 AF_1 2.390000 % AF_2 152314FK1 1,000.00000000 0.00000000 2.39166667 2.39166667 1,000.00000000 AF_2 2.870000 % AF_3 152314FL9 1,000.00000000 0.00000000 2.96666675 2.96666675 1,000.00000000 AF_3 3.560000 % AF_4 152314FM7 1,000.00000000 0.00000000 3.73333339 3.73333339 1,000.00000000 AF_4 4.480000 % AF_5 152314FN5 1,000.00000000 0.00000000 4.09166724 4.09166724 1,000.00000000 AF_5 4.910000 % AF_6 152314FP0 1,000.00000000 0.00000000 3.75000000 3.75000000 1,000.00000000 AF_6 4.500000 % AV 152314 FR6 987.74219701 14.57067196 1.73986673 16.31053869 973.17152505 AV 2.113750 % M_1 152314 FS4 1,000.00000000 0.00000000 2.05312509 2.05312509 1,000.00000000 M_1 2.463750 % M_2 152314 FT2 1,000.00000000 0.00000000 2.46979157 2.46979157 1,000.00000000 M_2 2.963750 % B_1 152314 FU9 1,000.00000000 0.00000000 3.09479157 3.09479157 1,000.00000000 B_1 3.713750 % B_2 152314 FV7 1,000.00000000 0.00000000 3.30312552 3.30312552 1,000.00000000 B_2 3.963750 % TOTALS 992.29069528 9.52196897 2.31175036 11.83371933 982.76872631 AIO_I N/A 975.60000000 0.00000000 4.87800000 4.87800000 920.72222222 AIO_I 6.000000 % AIO_II N/A 950.54166667 0.00000000 4.75270833 4.75270833 751.29166667 AIO_II 6.000000 % X_IO N/A ## 0.00000000 ## ## ## X_IO 0.000000 % -------------------------------------------------------------------------------------------------------- ------------------------ If there are any questions or problems with this statement, please contact the Administrator listed below: --------------------------------------- Sora Jun JPMorgan Chase Bank - Structured Finance Services 450 W. 33rd Street, 8th Floor, New York, New York 10001 Tel: (212) 946-3669 Fax: (212) 946-3916 Email: Sora.jun@chase.com --------------------------------------- Copyright 2001 J.P. Morgan Chase & Co. All rights reserved. Sec. 7.09(ii) Distributions Allocable to Principal Group I Scheduled Monthly Payments 227,622.64 Curtailments 39,731.59 Prepayments in Full 1,410,187.44 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Group II Scheduled Monthly Payments 178,961.16 Curtailments 15,548.51 Prepayments in Full 3,650,690.66 Loans Repurchased by Seller 0.00 Substitution Amounts 0.00 Net Liquidation Proceeds 0.00 Subordination Increase Amount 0.00 Excess Overcollateralization Amount 0.00 Sec. 7.09(iv) Class Interest Carryover Shortfall Class AF-1 0.00 Class AF-2 0.00 Class AF-3 0.00 Class AF-4 0.00 Class AF-5 0.00 Class AF-6 0.00 Class AV 0.00 Class M-1 0.00 Class M-2 0.00 Class B-1 0.00 Class B-2 0.00 Sec. 7.09(v) Class Principal Carryover Shortfall Subordinate Certificates Class M-1 0.00 Class M-2 0.00 Class B-1 0.00 Class B-2 0.00 Sec. 7.09(vi) Aggregate Loan Balance of Each Group Group I Beginning Aggregate Loan Balance 213,363,437.47 Group I Ending Aggregate Loan Balance 211,685,895.80 Group II Beginning Aggregate Loan Balance 362,165,165.79 Group II Ending Aggregate Loan Balance 358,319,965.46 Sec. 7.09(vii) Overcollateralization Total Overcollateralization Amount 0.00 Total Required Overcollateralization Amount 0.00 Sec. 7.09(viii) Internal Revenue Code Section 6049(d)(7)(C) Market Discount Information Sec. 7.09(ix) Substitution Amounts Group I 0.00 Group II 0.00 Sec. 7.09(ix) Loan Purchase Price Amounts Group I 0.00 Group II 0.00 Sec. 7.09(x) Weighted Average Net Coupon Rate Group I 9.5436 % Group II 9.0273 % Sec. 7.09(xi) Monthly Remittance Amount Group I 3,374,916.78 Group II 6,570,166.27 Sec. 7.09(xiii) Weighted Average Gross Margin - Group II Loans 9.0732 % Sec. 7.09(xiv) Largest Loan Balance Group I 650,664.20 Group II 599,340.70 Sec. 7.09(xv) Basic Principal Amount Group I 1,677,541.67 Group II 3,845,200.33 Sec. 7.09(xvi) Net Wac Cap Carryover Paid Group I 0.00 Group II 0.00 Sec. 7.09(xvi) Remaining Net Wac Cap Carryover Group I 0.00 Group II 0.00 Sec. 7.09(xviii) Net Wac Cap Group I 7.07 % Group II 7.14 % Sec. 7.09(xix) Applied Realized Loss Amounts Subordinate Certificates Class M-1 0.00 Class M-2 0.00 Class B-1 0.00 Class B-2 0.00 Sec. 7.09(xx) Stepdown Date Has Not Occurred Sec. 7.09(b)(i) Number and Aggregate Principal Amounts of Mortgage Loans in Delinquency (Includes Bankruptcies) Group 1 Principal Category Number Balance Percentage 1 Month 34 1,492,008.26 0.70 % 2 Month 8 280,166.50 0.13 % 3 Month 1 16,194.33 0.01 % Total 43 1,788,369.09 0.84 % Group 2 Principal Category Number Balance Percentage 1 Month 58 4,039,399.39 1.13 % 2 Month 13 1,165,376.88 0.33 % 3 Month 1 164,700.00 0.05 % Total 72 5,369,476.27 1.51 % Group Totals Principal Category Number Balance Percentage 1 Month 92 5,531,407.65 0.97 % 2 Month 21 1,445,543.38 0.25 % 3 Month 2 180,894.33 0.03 % Total 115 7,157,845.36 1.25 % Sec. 7.09(b)(ii) Number and Aggregate Principal Amounts of Mortgage Loans in Foreclosure Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Sec. 7.09(b)(iii) Number and Aggregate Principal Amounts of Mortgage Loans in Bankruptcy Group 1 Principal Number Balance Percentage 7 293,029.28 0.14 % Group 2 Principal Number Balance Percentage 14 1,335,101.76 0.37 % Group Totals Principal Number Balance Percentage 21 1,628,131.04 0.29 % Sec. 7.09(b)(iii) Balloon Loans Number of Balloon Loans 196.00 Balance of Balloon Loans 13,280,567.93 Sec. 7.09(b)(iv) Number and Aggregate Principal Amounts of REO Loans Group 1 Principal Number Balance Percentage 0 0.00 0.00 % Group 2 Principal Number Balance Percentage 0 0.00 0.00 % Group Totals Principal Number Balance Percentage 0 0.00 0.00 % Sec. 7.09(b)(v) Book Value of REO Loans Group I 0.00 Group II 0.00 Sec. 7.09(b)(vi) Realized Losses Group I Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Group II Monthly Realized Losses 0.00 Cumulative Realized Losses 0.00 Sec. 7.09(b)(vii) Net Liquidation Proceeds Group I 0.00 Group II 0.00 Sec. 7.09(b)(viii) 60+ Delinquency Percentage (Rolling Three Month) 0.1821 % Sec. 7.09(b)(ix) Cumulative Loss Percentage Cumulative Realized Losses Since Cut-Off Date 0.00 Aggregate Loan Balance as of the Cut-Off Date 580,007,243.94 Cumulative Loss Percentage 0.00 % Sec. 7.09(b)(x) Has a Trigger Event Occurred? NO 1-Month LIBOR for Current Distribution Date 1.8138 %

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): August 14, 2002

Centex Home Equity Loan Trust 2002-C, Centex Home Equity Loan Asset-Backed Certificates, Series 2002-C

CHEC FUNDING, LLC
(Exact name of registrant as specified in its charter)
Delaware	333-69800	75-2851805
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
2728 North Harwood Street Dallas, Texas 75201
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code (214) 981-5000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Item 5.

Other Events.

CHEC Funding, LLC, as depositor (the “Depositor”) registered issuance of Asset-Backed Certificates and Asset-Backed Notes on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-69800) (as amended, the “Registration Statement”). Pursuant to the Registration Statement, the Depositor caused Centex Home Equity Loan Trust 2002-C to issue $580,000,000 principal amount of Home Equity Loan Asset-Backed Certificates, Series 2002-C (the “Certificates”), on August 14, 2002 (the “Closing Date”).

The Certificates were issued pursuant to a pooling and servicing agreement (the “Pooling and Servicing Agreement”), dated as of August 1, 2002, among the Depositor, Centex Home Equity Corporation, as a seller and servicer, Harwood Street Funding II, LLC as conduit seller and JPMorgan Chase Bank, as trustee.

Capitalized terms not defined herein have the meanings assigned in the Pooling and Servicing Agreement attached hereto as Exhibit 4.1.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c)

Exhibits:

4.1

Pooling and Servicing Agreement

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 hereunto duly authorized.

CHEC FUNDING, LLC

By:_/s/ Jeffrey B. Upperman

Name: Jeffrey B. Upperman

Title: Vice President

Date:

August 14, 2002

Exhibit Index

Exhibit

4.1

Pooling and Servicing Agreement

EXHIBIT 4.1

Filing Compare · CENTEX HOME EQUITY LOAN TRUST 2002-C