8-K 1 bsa01ac2.txt MARCH 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): March 25, 2002 BEAR STEARNS ASSET BACKED SECURITIES TRUST Asset Backed Certificates, Series 2001-AC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-43091-11 Pooling and Servicing Agreement) (Commission 52-2316429 (State or other File Number) 52-2316431 jurisdiction 52-2316430 of Incorporation) 52-2316434 IRS EIN c/o Wells Fargo Bank Minnesota, N.A., 11000 Broken Land Parkway Columbia, MD 21044 (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 March 25, 2002 a distribution was made to holders of BEAR STEARNS ASSET BACKED SECURITIES TRUST, Asset Backed Certificates, Series 2001-AC2 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 Asset Backed Certificates, Series 2001-AC2 Trust, relating to the March 25, 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 Asset Backed Certificates, Series 2001-AC2 Trust By: Wells Fargo Bank Minnesota, NA, Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 4/2/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Asset Backed Certificates, Series 2001-AC2 Trust, relating to the March 25, 2002 distribution. EX-99.1

Bear Stearns Asset Backed Securities ~~Trust~~Mortgage ~~Asset~~Pass-Through ~~Backed~~ Certificates Record Date: 12/3128/02 Distribution Date: 23/25/02 BSA Series: 2001-AC2 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 A-IO 07384YBC9 IO 8.00000% 0.00 134,800.00 0.00 I-A1 07384YAX4 SEN 2.~~01000~~10000% 6156,~~971~~355,~~117~~410.5916 ~~107~~92,~~261~~047.6817 53,~~615~~006,~~707~~736.4387 I-A2 07384YAY2 SEN 4.91000% 62,927,000.00 257,476.31 0.00 I-A3 07384YAZ9 SEN 5.72000% 13,090,000.00 62,395.67 0.00 I-A4 07384YBA3 SEN 6.16000% 21,231,000.00 108,985.80 0.00 I-A5 07384YBB1 SEN 6.38000% 25,685,000.00 136,558.58 0.00 II-F 07384YBD7 SEN 2.~~36000~~45000% ~~224~~215,~~561~~486,~~839~~056.5463 ~~441~~439,~~638~~950.2870 912,~~075~~090,~~782~~953.9050 II-INV 07384YBE5 SEN 5.~~57855~~55000% 0.00 1996,~~043,941~~623.01 0.00 II-A-2 07384YBF2 SEN 5.82000% 37,290,000.00 180,856.50 0.00 II-A-3 07384YBG0 SEN 6.45000% 26,381,000.00 141,797.8788 0.00 M-1 07384YBH8 SUB 6.05000% 11,890,000.00 59,945.42 0.00 M-2 07384YBJ4 SUB 6.30000% 10,569,000.00 55,487.25 0.00 B 07384YBK1 SUB 6.75000% 7,927,000.00 44,589.3738 0.00 B-IO BSAAC2BIO IO 0.00000% 1,~~531~~849,~~271~~617.5439 ~~314~~695,~~707~~693.2271 0.00 P BSA01AC2P SUB 0.00000% 100.00 04,511.0093 0.00 R-1 BSA1AC2R1 RES 0.00000% 0.00 0.00 0.00 R-2 BSA1AC2R2 RES 0.00000% 0.00 0.00 0.00 R-3 BSA1AC2R3 RES 0.00000% 0.00 0.00 0.00 R-4 BSA1AC2R4 RES 0.00000% 0.00 0.00 0.00 Totals ~~505~~490,~~054~~681,~~328~~184.6718 3,~~090~~411,~~440~~719.9631 1415,~~691~~097,~~490~~690.3337

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 134,800.00 0.00 I-A1 0.00 5653,~~355~~348,~~410~~673.1629 53,~~722~~098,~~969~~784.1104 0.00 I-A2 0.00 62,927,000.00 257,476.31 0.00 I-A3 0.00 13,090,000.00 62,395.67 0.00 I-A4 0.00 21,231,000.00 108,985.80 0.00 I-A5 0.00 25,685,000.00 136,558.58 0.00 II-F 0.00 ~~215~~203,~~486~~395,~~056~~103.6313 912,~~517~~530,~~421~~904.1820 0.00 II-INV 0.00 0.00 1996,~~043,941~~623.01 0.00 II-A-2 0.00 37,290,000.00 180,856.50 0.00 II-A-3 0.00 26,381,000.00 141,797.8788 0.00 M-1 0.00 11,890,000.00 59,945.42 0.00 M-2 0.00 10,569,000.00 55,487.25 0.00 B 0.00 7,927,000.00 44,589.3738 0.00 B-IO 0.00 1,849,617.39 ~~314~~695,~~707~~693.2271 0.00 P 0.00 100.00 04,511.0093 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 R-4 0.00 0.00 0.00 0.00 Totals 0.00 ~~490~~475,~~681~~583,~~184~~493.1881 1718,~~781~~509,~~931~~409.2968 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) A-IO 0.00 0.00 0.00 0.00 0.00 0.00 I-A1 67,637,000.00 6156,~~971~~355,~~117~~410.5916 0.00 53,~~615~~006,~~707~~736.4387 0.00 0.00 I-A2 62,927,000.00 62,927,000.00 0.00 0.00 0.00 0.00 I-A3 13,090,000.00 13,090,000.00 0.00 0.00 0.00 0.00 I-A4 21,231,000.00 21,231,000.00 0.00 0.00 0.00 0.00 I-A5 25,685,000.00 25,685,000.00 0.00 0.00 0.00 0.00 II-F 243,835,000.00 ~~224~~215,~~561~~486,~~839~~056.5463 0.00 912,~~075~~090,~~782~~953.9050 0.00 0.00 II-INV 0.00 0.00 0.00 0.00 0.00 0.00 II-A-2 37,290,000.00 37,290,000.00 0.00 0.00 0.00 0.00 II-A-3 26,381,000.00 26,381,000.00 0.00 0.00 0.00 0.00 M-1 11,890,000.00 11,890,000.00 0.00 0.00 0.00 0.00 M-2 10,569,000.00 10,569,000.00 0.00 0.00 0.00 0.00 B 7,927,000.00 7,927,000.00 0.00 0.00 0.00 0.00 B-IO 11.00 1,~~531~~849,~~271~~617.5439 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 R-4 0.00 0.00 0.00 0.00 0.00 0.00 Totals 528,462,111.00 ~~505~~490,~~054~~681,~~328~~184.6718 0.00 1415,~~691~~097,~~490~~690.3337 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 A-IO 0.00 0.00 0.00000000 0.00 I-A1 53,~~615~~006,~~707~~736.4387 5653,~~355~~348,~~410~~673.1629 0.~~83320387~~78874985 53,~~615~~006,~~707~~736.4387 I-A2 0.00 62,927,000.00 1.00000000 0.00 I-A3 0.00 13,090,000.00 1.00000000 0.00 I-A4 0.00 21,231,000.00 1.00000000 0.00 I-A5 0.00 25,685,000.00 1.00000000 0.00 II-F 912,~~075~~090,~~782~~953.9050 ~~215~~203,~~486~~395,~~056~~103.6313 0.~~88373719~~83415057 912,~~075~~090,~~782~~953.9050 II-INV 0.00 0.00 0.00000000 0.00 II-A-2 0.00 37,290,000.00 1.00000000 0.00 II-A-3 0.00 26,381,000.00 1.00000000 0.00 M-1 0.00 11,890,000.00 1.00000000 0.00 M-2 0.00 10,569,000.00 1.00000000 0.00 B 0.00 7,927,000.00 1.00000000 0.00 B-IO 0.00 1,849,617.39 168,147.03545455 0.00 P 0.00 100.00 1.00000000 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 R-4 0.00 0.00 0.00000000 0.00 Totals 1415,~~691~~097,~~490~~690.3337 ~~490~~475,~~681~~583,~~184~~493.1881 0.~~92850779~~89993868 1415,~~691~~097,~~490~~690.3337

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 67,637,000.00 ~~916~~833.~~23102133~~20387007 0.00000000 8344.~~02715126~~45402472 0.00000000 I-A2 62,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A3 13,090,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A4 21,231,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 I-A5 25,685,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-F 243,835,000.00 ~~920~~883.~~95818705~~73718551 0.00000000 3749.~~22100150~~58662005 0.00000000 II-INV 0.00 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 37,290,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 II-A-3 26,381,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 11,890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 10,569,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 7,927,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-IO 11.00 ~~139206503~~168147035.~~636363~~45454544 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-4 0.00 0.00000000 0.00000000 0.00000000 0.00000000 Per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 I-A1 0.00000000 8344.~~02715126~~45402472 ~~833~~788.~~20387007~~74984535 0.~~83320387~~78874985 8344.~~02715126~~45402472 I-A2 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 I-A3 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 I-A4 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 I-A5 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 II-F 0.00000000 3749.~~22100150~~58662005 ~~883~~834.~~73718551~~15056546 0.~~88373719~~83415057 3749.~~22100150~~58662005 II-INV 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 II-A-2 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 II-A-3 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 0.00000000 B-IO 0.00000000 0.00000000 ~~168147~~168,147,035.~~45454~~4545454 168147.03545455 0.00000000 P 0.00000000 0.00000000 ~~1000~~1,000.00000000 1.00000000 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 R-4 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 A-IO 0.00 8.00000% 20,220,000.00 134,800.00 0.00 0.00 I-A1 67,637,000.00 2.~~01000~~10000% 6156,~~971~~355,~~117~~410.5916 ~~107~~92,~~261~~047.6817 0.00 0.00 I-A2 62,927,000.00 4.91000% 62,927,000.00 257,476.31 0.00 0.00 I-A3 13,090,000.00 5.72000% 13,090,000.00 62,395.67 0.00 0.00 I-A4 21,231,000.00 6.16000% 21,231,000.00 108,985.80 0.00 0.00 I-A5 25,685,000.00 6.38000% 25,685,000.00 136,558.58 0.00 0.00 II-F 243,835,000.00 2.~~36000~~45000% ~~224~~215,~~561~~486,~~839~~056.5463 ~~441~~439,~~638~~950.2870 0.00 0.00 II-INV 0.00 5.~~57855~~55000% ~~224~~215,~~561~~486,~~839~~056.5463 1996,~~043,941~~623.01 0.00 0.00 II-A-2 37,290,000.00 5.82000% 37,290,000.00 180,856.50 0.00 0.00 II-A-3 26,381,000.00 6.45000% 26,381,000.00 141,797.88 0.00 0.00 M-1 11,890,000.00 6.05000% 11,890,000.00 59,945.42 0.00 0.00 M-2 10,569,000.00 6.30000% 10,569,000.00 55,487.25 0.00 0.00 B 7,927,000.00 6.75000% 7,927,000.00 44,589.38 0.00 0.00 B-IO 11.00 0.00000% 1,~~531~~849,~~271~~617.5439 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R-1 0.00 0.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 R-4 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 528,462,111.00 2,~~775~~711,~~733~~513.7667 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 A-IO 0.00 0.00 134,800.00 0.00 20,220,000.00 I-A1 0.00 0.00 ~~107~~92,~~261~~047.6817 0.00 5653,~~355~~348,~~410~~673.1629 I-A2 0.00 0.00 257,476.31 0.00 62,927,000.00 I-A3 0.00 0.00 62,395.67 0.00 13,090,000.00 I-A4 0.00 0.00 108,985.80 0.00 21,231,000.00 I-A5 0.00 0.00 136,558.58 0.00 25,685,000.00 II-F 0.00 0.00 ~~441~~439,~~638~~950.2870 0.00 ~~215~~203,~~486~~395,~~056~~103.6313 II-INV 0.00 0.00 1996,~~043,941~~623.01 0.00 ~~215~~203,~~486~~395,~~056~~103.6313 II-A-2 0.00 0.00 180,856.50 0.00 37,290,000.00 II-A-3 0.00 0.00 141,797.8788 0.00 26,381,000.00 M-1 0.00 0.00 59,945.42 0.00 11,890,000.00 M-2 0.00 0.00 55,487.25 0.00 10,569,000.00 B 0.00 0.00 44,589.3738 0.00 7,927,000.00 B-IO 0.00 0.00 ~~314~~695,~~707~~693.2271 0.00 1,849,617.39 P 0.00 0.00 04,511.0093 0.00 100.00 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 R-4 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 3,~~090~~411,~~440~~719.9631 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 A-IO 0.00 8.00000% 1000.00000000 6.66666667 0.00000000 0.00000000 I-A1 67,637,000.00 2.~~01000~~10000% ~~916~~833.~~23102133~~20387007 1.~~58584325~~36089966 0.00000000 0.00000000 I-A2 62,927,000.00 4.91000% 1000.00000000 4.09166669 0.00000000 0.00000000 I-A3 13,090,000.00 5.72000% 1000.00000000 4.76666692 0.00000000 0.00000000 I-A4 21,231,000.00 6.16000% 1000.00000000 5.13333333 0.00000000 0.00000000 I-A5 25,685,000.00 6.38000% 1000.00000000 5.31666654 0.00000000 0.00000000 II-F 243,835,000.00 2.~~36000~~45000% ~~920~~883.~~95818705~~73718551 1.~~81121775~~80429676 0.00000000 0.00000000 II-INV 0.00 5.~~57855~~55000% ~~920~~883.~~95818705~~73718551 4.~~28134193~~08728448 0.00000000 0.00000000 II-A-2 37,290,000.00 5.82000% 1000.00000000 4.85000000 0.00000000 0.00000000 II-A-3 26,381,000.00 6.45000% 1000.00000000 5.37500019 0.00000000 0.00000000 M-1 11,890,000.00 6.05000% 1000.00000000 5.04166695 0.00000000 0.00000000 M-2 10,569,000.00 6.30000% 1000.00000000 5.25000000 0.00000000 0.00000000 B 7,927,000.00 6.75000% 1000.00000000 5.62500063 0.00000000 0.00000000 B-IO 11.00 0.00000% ~~139206503~~168147035.~~6363636~~45454544 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-4 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 All denominations are per $1,000.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-IO 0.00000000 0.00000000 6.66666667 0.00000000 1000.00000000 I-A1 0.00000000 0.00000000 1.~~58584325~~36089966 0.00000000 ~~833~~788.~~20387007~~74984535 I-A2 0.00000000 0.00000000 4.09166669 0.00000000 1000.00000000 I-A3 0.00000000 0.00000000 4.76666692 0.00000000 1000.00000000 I-A4 0.00000000 0.00000000 5.13333333 0.00000000 1000.00000000 I-A5 0.00000000 0.00000000 5.31666654 0.00000000 1000.00000000 II-F 0.00000000 0.00000000 1.~~81121775~~80429676 0.00000000 ~~883~~834.~~73718551~~15056546 II-INV 0.00000000 0.00000000 4.~~28134193~~08728448 0.00000000 ~~883~~834.~~73718551~~15056546 II-A-2 0.00000000 0.00000000 4.85000000 0.00000000 1000.00000000 II-A-3 0.00000000 0.00000000 5.~~37499981~~37500019 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 5.04166695 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 5.25000000 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.~~62499937~~62500063 0.00000000 1000.00000000 B-IO 0.00000000 0.00000000 ~~28609747~~63244882.~~2727272~~72727272 0.00000000 168147035.45454544 P 0.00000000 0.00000000 045119.~~00000000~~30000000 0.00000000 1000.00000000 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 R-4 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 1718,~~840~~552,~~801~~440.7613 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~105~~116,~~564~~033.1716 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 1718,~~946~~668,~~365~~473.9329 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~164~~159,~~434~~063.6361 Payment of Interest and Principal 1718,~~781~~509,~~931~~409.3068 Total Withdrawals (Pool Distribution Amount) 1718,~~946~~668,~~365~~473.9329 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~160~~154,~~225~~974.8664 Trustee Fee 4,~~208~~088.7797 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~164~~159,~~434~~063.6361

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 0 015 0 015 0.00 04,397,945.0070 0.00 04,397,945.0070 30 Days 2329 0 0 0 2329 45,~~940~~536,~~578~~810.6907 0.00 0.00 0.00 45,~~940~~536,~~578~~810.6907 60 Days 2111 0 0 0 2111 42,~~926~~446,~~811~~756.8286 0.00 0.00 0.00 42,~~926~~446,~~811~~756.8286 90 Days 9 0 0 0 9 32,~~196~~514,~~799~~085.2111 0.00 0.00 0.00 32,~~196~~514,~~799~~085.2111 120 Days 10 0 0 0 10 ~~423,000~~0.00 0.00 0.00 0.00 ~~423,000~~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 5449 0 015 0 5464 1310,~~487~~497,~~189~~652.7204 0.00 04,397,945.0070 0.00 1314,~~487~~895,~~189~~597.7274 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~~744048% 0.000000% 0.~~000000~~744048% 0.000000% 0.~~000000~~924301% 0.000000% 0.~~000000~~924301% 30 Days 1.~~115422~~438492% 0.000000% 0.000000% 0.000000% 1.~~115422~~438492% 1.~~006445~~163652% 0.000000% 0.000000% 0.000000% 1.~~006445~~163652% 60 Days 10.~~018429~~545635% 0.000000% 0.000000% 0.000000% 10.~~018429~~545635% 10.~~003641~~514226% 0.000000% 0.000000% 0.000000% 10.~~003641~~514226% 90 Days 0.~~436469~~446429% 0.000000% 0.000000% 0.000000% 0.~~436469~~446429% 0.~~651220~~528377% 0.000000% 0.000000% 0.000000% 0.~~651220~~528377% 120 Days 0.~~048497~~000000% 0.000000% 0.000000% 0.000000% 0.~~048497~~000000% 0.~~086169~~000000% 0.000000% 0.000000% 0.000000% 0.~~086169~~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 2.~~618817~~430556% 0.000000% 0.~~000000~~744048% 0.000000% 23.~~618817~~174603% 2.~~747476~~206255% 0.000000% 0.~~000000~~924301% 0.000000% 23.~~747476~~130556%

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 08 0 08 0.00 01,379,044.0018 0.00 01,379,044.0018 30 Days 1624 0 0 0 1624 23,~~420~~679,~~863~~349.1171 0.00 0.00 0.00 23,~~420~~679,~~863~~349.1171 60 Days 157 0 0 0 157 21,~~634~~151,~~480~~676.9813 0.00 0.00 0.00 21,~~634~~151,~~480~~676.9813 90 Days 35 0 0 0 35 ~~592~~884,~~162~~915.4518 0.00 0.00 0.00 ~~592~~884,~~162~~915.4518 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 3436 0 08 0 3444 5,~~647~~715,~~506~~941.5402 0.00 01,379,044.0018 0.00 57,~~647~~094,~~506~~985.5420 0-29 Days 0.000000% 0.~~000000~~625978% 0.000000% 0.~~000000~~625978% 0.000000% 0.~~000000~~731543% 0.000000% 0.~~000000~~731543% 30 Days 1.~~236476~~877934% 0.000000% 0.000000% 0.000000% 1.~~236476~~877934% 1.~~264077~~951787% 0.000000% 0.000000% 0.000000% 1.~~264077~~951787% 60 Days 10.~~159196~~547731% 0.000000% 0.000000% 0.000000% 10.~~159196~~547731% 10.~~375620~~610930% 0.000000% 0.000000% 0.000000% 10.~~375620~~610930% 90 Days 0.~~231839~~391236% 0.000000% 0.000000% 0.000000% 0.~~231839~~391236% 0.~~309203~~469422% 0.000000% 0.000000% 0.000000% 0.~~309203~~469422% 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 2.~~627512~~816901% 0.000000% 0.~~000000~~625978% 0.000000% 23.~~627512~~442879% 23.~~948901~~032139% 0.000000% 0.~~000000~~731543% 0.000000% 23.~~948901~~763682% 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 07 0 07 0.00 03,018,901.0052 0.00 03,018,901.0052 30 Days 75 0 0 0 75 21,~~519~~857,~~715~~460.5836 0.00 0.00 0.00 21,~~519~~857,~~715~~460.5836 60 Days 64 0 0 0 64 21,~~292~~295,~~330~~080.8473 0.00 0.00 0.00 21,~~292~~295,~~330~~080.8473 90 Days 64 0 0 0 64 21,~~604~~629,~~636~~169.7693 0.00 0.00 0.00 21,~~604~~629,~~636~~169.7693 120 Days 10 0 0 0 10 ~~423,000~~0.00 0.00 0.00 0.00 ~~423,000~~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 2013 0 07 0 20 74,~~839~~781,~~683~~711.1802 0.00 03,018,901.0052 0.00 7,~~839~~800,~~683~~612.1854 0-29 Days 0.000000% 0.~~000000~~948509% 0.000000% 0.~~000000~~948509% 0.000000% 01.~~000000~~050779% 0.000000% 01.~~000000~~050779% 30 Days 0.~~911458~~677507% 0.000000% 0.000000% 0.000000% 0.~~911458~~677507% 0.~~841640~~646520% 0.000000% 0.000000% 0.000000% 0.~~841640~~646520% 60 Days 0.~~781250~~542005% 0.000000% 0.000000% 0.000000% 0.~~781250~~542005% 0.~~765689~~450774% 0.000000% 0.000000% 0.000000% 0.~~765689~~450774% 90 Days 0.~~781250~~542005% 0.000000% 0.000000% 0.000000% 0.~~781250~~542005% 0.~~870006~~567060% 0.000000% 0.000000% 0.000000% 0.~~870006~~567060% 120 Days 0.~~130208~~000000% 0.000000% 0.000000% 0.000000% 0.~~130208~~000000% 0.~~141291~~000000% 0.000000% 0.000000% 0.000000% 0.~~141291~~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 21.~~604167~~761518% 0.000000% 0.~~000000~~948509% 0.000000% 2.~~604167~~710027% 21.~~618626~~664354% 0.000000% 01.~~000000~~050779% 0.000000% 2.~~618626~~715133% Delinquencies are stratified according to the information provided by the ~~servicer~~swervicer. All 90 day delinquencies reported are actually\ 90+ day delinquencies.

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~105~~116,~~564~~033.1716

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 8.~~489910~~721600% Weighted Average Net Coupon 8.~~109216~~342598% Weighted Average Pass-Through Rate 8.~~099216~~343632% Weighted Average Maturity(Stepdown Calculation ) ~~335~~334 Beginning Scheduled Collateral Loan Count 2,~~112~~062 Number Of Loans Paid In Full 5046 Ending Scheduled Collateral Loan Count 2,~~062~~016 Beginning Scheduled Collateral Balance ~~505~~490,~~054~~681,~~328~~184.6718 Ending Scheduled Collateral Balance ~~490~~475,~~681~~583,~~184~~493.1881 Ending Actual Collateral Balance at 3128-~~Jan~~Feb-2002 ~~490~~475,~~893~~813,~~847~~133.6505 Monthly P &I Constant 3,~~995~~882,~~477~~764.1343 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~490~~475,~~681~~583,~~184~~493.1881 Scheduled Principal ~~322,271~~0.0600 Unscheduled Principal 1415,~~050~~097,~~873~~690.4337 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount ~~318,345~~0.8500 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1,849,617.39 Overcollateralized Amount 1,849,617.39 Overcollateralized Deficiency Amount ~~318,345~~0.8500 Base Overcollateralized Amount 0.00 Extra principal distribution Amount ~~318,345~~0.8500 Excess Cash Amount ~~633~~700,~~053~~205.0764

Miscellaneous Reporting ~~3 Month Rolling Delinquency Avg 1.5841430%~~

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 30 Year Fixed 30 Year Fixed 30 Year Weighted Average Coupon Rate 8.~~730257~~734222 8.~~336345~~713528 8.~~489910~~721600 Weighted Average Net Rate 8.~~360679~~369087 78.~~948549~~325657 8.~~109216~~342598 Weighted Average Maturity ~~325~~324 ~~340~~339 ~~335~~334 Beginning Loan Count 1,~~322~~294 ~~790~~768 2,~~112~~062 Loans Paid In Full 2816 2230 5046 Ending Loan Count 1,~~294~~278 ~~768~~738 2,~~062~~016 Beginning Scheduled Balance ~~196~~191,~~893~~399,~~462~~439.0381 ~~308~~299,~~160~~281,~~866~~744.6437 ~~505~~490,~~054~~681,~~328~~184.6718 Ending scheduled Balance ~~191~~188,~~399~~392,~~439~~702.8194 ~~299~~287,~~281~~190,~~744~~790.3787 ~~490~~475,~~681~~583,~~184~~493.1881 Record Date 0102/3128/2002 0102/3128/2002 0102/3128/2002 Principal And Interest Constant 1,~~568~~523,~~352~~263.3835 2,~~427~~359,~~124~~501.7508 3,~~995~~882,~~477~~764.1343 Scheduled Principal 130,~~614~~159.6002 ~~191~~186,~~656~~334.4643 ~~322~~316,~~271~~493.0645 Unscheduled Principal 52,~~363~~876,~~407~~577.6285 811,~~687~~904,~~465~~619.8107 14,~~050~~781,~~873~~196.4392 Scheduled Interest 1,~~432~~397,~~442~~616.0726 2,~~140~~173,~~779~~166.4065 3,~~573~~570,~~221~~782.4791 Servicing Fees 6058,~~639~~238.5992 9996,~~586~~735.2771 ~~160~~154,~~225~~974.8663 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~640~~594.7898 2,~~567~~493.99 4,~~208~~088.7797 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,~~370~~337,~~161~~782.7036 2,~~038~~073,~~625~~936.1495 3,~~408~~411,~~786~~719.8431 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 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 8.350679 7.938549 8.099216~~

Filing Compare · BEAR STEARNS ASSET BACKED CERTIFICATES SERIES 2001-AC2