8-K 1 sac02al1.txt MAY 8-K 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): May 28, 2002 STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-AL1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82146-04 Pooling and Servicing Agreement) (Commission Pending (State or other File Number) IRS EIN 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 May 28, 2002 a distribution was made to holders of STRUCTURED ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-AL1 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 Mortgage Pass-Through Certificates, Series 2002-AL1 Trust, relating to the May 28, 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. STRUCTURED ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-AL1 Trust By: Wells Fargo Bank Minnesota, NA, as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 5/31/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-AL1 Trust, relating to the May 28, 2002 distribution. EX-99.1

Structured Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 24/2830/02 Distribution Date: 35/2528/02 SASC Series: 2002-AL1 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-1 86358RXX0 SEN 3.45000% ~~117~~111,~~197~~493,~~000~~099.0080 ~~336~~320,~~941~~542.3265 2,~~897~~758,~~378~~061.0663 A-2 86358RXY8 SEN 3.45000% ~~155~~150,~~630~~510,~~000~~506.0079 ~~447~~432,~~436~~717.1869 21,~~407~~865,~~268~~820.0630 A-3 86358RXZ5 SEN 3.45000% ~~416~~406,~~837~~531,~~000~~679.0014 1,~~198~~168,~~406~~778.2054 4,~~839~~258,~~403~~072.5691 A-PO 86358RYB7 PO 0.00000% 1110,~~064~~726,~~295~~957.0726 0.00 ~~185~~163,~~722~~549.0307 A-IO 86358RYA9 IO 3.45000% 0.00 ~~118~~114,~~420~~008.8553 0.00 B-1 86358RYC5 SUB 3.45000% 2120,~~168~~984,~~000~~991.0015 60,~~857~~331.99 85 87,~~464~~073.8107 B-2 86358RYD3 SUB 3.45000% 16,~~177~~037,~~000~~141.0005 46,~~508~~106.8778 6566,~~313~~542.8895 B-3 86358RYE1 SUB 3.45000% 12,~~133~~028,~~000~~103.0063 34,~~882~~580.3780 4849,~~986~~908.4224 B-4 86358RXU6 SUB 3.45000% 109,~~053~~966,~~000~~086.0036 28,~~902~~652.3750 4041,~~588~~352.5231 B-5 86358RXV4 SUB 3.45000% 7,~~873~~804,~~000~~933.0064 22,~~634~~439.8718 3132,~~786~~385.8703 B-6 86358RXW2 SUB 3.45000% 17,~~942~~786,~~015~~797.0023 51,~~583~~137.2904 7271,~~439~~125.8521 O SAS02AL1O RES 3.45000% 100.00 0.29 0.00 Totals ~~786~~763,~~074~~870,~~410~~396.0705 2,~~346~~279,~~574~~295.6085 109,~~674~~393,~~352~~890.0672

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~114~~108,~~299~~735,~~621~~038.9417 3,~~234~~078,~~319~~604.3828 0.00 A-2 0.00 ~~153~~148,~~222~~644,~~731~~686.9449 2,~~854~~298,~~704~~537.2499 0.00 A-3 0.00 ~~411~~402,~~997~~273,~~596~~606.4424 65,~~037~~426,~~809~~851.7645 0.00 A-PO 0.00 10,~~878~~563,~~573~~408.0419 ~~185~~163,~~722~~549.0307 0.00 A-IO 0.00 0.00 ~~118~~114,~~420~~008.8553 0.00 B-1 0.00 2120,~~082~~897,~~535~~918.1908 ~~146~~147,~~322~~404.8092 0.00 B-2 0.00 1615,~~111~~970,~~686~~598.1211 ~~111~~112,~~822~~649.7573 0.00 B-3 0.00 1211,~~084~~978,~~013~~195.5839 8384,~~868~~489.7904 0.00 B-4 0.00 109,~~012~~924,~~411~~734.4805 6970,~~490~~004.8981 0.00 B-5 0.00 7,~~841~~772,~~213~~548.1361 54,~~421~~824.7421 0.00 B-6 992,677.9759 17,~~869~~712,~~475~~994.1843 ~~124~~122,~~023~~262.1425 992,777.9756 O 0.00 100.00 0.29 0.00 Totals 992,677.9759 ~~775~~754,~~399~~473,~~958~~827.0476 1311,~~020~~673,~~926~~186.6657 992,777.9756 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-1 117,197,000.00 ~~117~~111,~~197~~493,~~000~~099.0080 ~~545~~523,~~132~~348.3875 2,~~352~~234,~~245~~712.6888 0.00 0.00 A-2 155,630,000.00 ~~155~~150,~~630~~510,~~000~~506.0079 ~~636~~629,~~328~~398.2428 1,~~770~~236,~~939~~422.8202 0.00 0.00 A-3 416,837,000.00 ~~416~~406,~~837~~531,~~000~~679.0014 1,~~603~~622,~~269~~494.4699 32,~~236~~635,~~134~~577.1091 0.00 0.00 A-PO 11,064,295.07 1110,~~064~~726,~~295~~957.0726 4750,~~433~~101.2567 ~~138~~113,~~288~~447.7839 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 B-1 21,168,000.00 2120,~~168~~984,~~000~~991.0015 8587,~~464~~073.8107 0.00 0.00 0.00 B-2 16,177,000.00 16,~~177~~037,~~000~~141.0005 6566,~~313~~542.8895 0.00 0.00 0.00 B-3 12,133,000.00 12,~~133~~028,~~000~~103.0063 4849,~~986~~908.4224 0.00 0.00 0.00 B-4 10,053,000.00 109,~~053~~966,~~000~~086.0036 4041,~~588~~352.5231 0.00 0.00 0.00 B-5 7,873,000.00 7,~~873~~804,~~000~~933.0064 3132,~~786~~385.8703 0.00 0.00 0.00 B-6 17,942,015.00 17,~~942~~786,~~015~~797.0023 7271,~~439~~125.8521 0.00 0.00 992,677.9759 O 100.00 100.00 0.00 0.00 0.00 0.00 Totals 786,074,410.07 ~~786~~763,~~074~~870,~~410~~396.0705 3,~~176~~173,~~743~~730.6850 76,~~497~~220,~~608~~160.3820 0.00 992,677.9759 (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-1 2,~~897~~758,~~378~~061.0663 ~~114~~108,~~299~~735,~~621~~038.9417 0.~~97527771~~92779711 2,~~897~~758,~~378~~061.0663 A-2 21,~~407~~865,~~268~~820.0630 ~~153~~148,~~222~~644,~~731~~686.9449 0.~~98453211~~95511589 21,~~407~~865,~~268~~820.0630 A-3 4,~~839~~258,~~403~~072.5691 ~~411~~402,~~997~~273,~~596~~606.4424 0.~~98839018~~96506214 4,~~839~~258,~~403~~072.5691 A-PO ~~185~~163,~~722~~549.0307 10,~~878~~563,~~573~~408.0419 0.~~98321429~~95472944 ~~185~~163,~~722~~549.0307 A-IO 0.00 0.00 0.00000000 0.00 B-1 8587,~~464~~073.8107 2120,~~082~~897,~~535~~918.1908 0.~~99596255~~98724103 8587,~~464~~073.8107 B-2 6566,~~313~~542.8895 1615,~~111~~970,~~686~~598.1211 0.~~99596255~~98724103 6566,~~313~~542.8895 B-3 4849,~~986~~908.4224 1211,~~084~~978,~~013~~195.5839 0.~~99596255~~98724103 4849,~~986~~908.4224 B-4 4041,~~588~~352.5231 109,~~012~~924,~~411~~734.4805 0.~~99596255~~98724103 4041,~~588~~352.5231 B-5 3132,~~786~~385.8703 7,~~841~~772,~~213~~548.1361 0.~~99596255~~98724103 3132,~~786~~385.8703 B-6 7273,~~539~~802.8280 17,~~869~~712,~~475~~994.1843 0.~~99595699~~98723552 7271,~~439~~125.8521 O 0.00 100.00 1.00000000 0.00 Totals 109,~~674~~396,~~452~~568.0331 ~~775~~754,~~399~~473,~~958~~827.0476 0.~~98642056~~95979950 109,~~674~~393,~~352~~890.0672

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 117,197,000.00 ~~1000~~951.~~00000000~~33066375 4.~~65141923~~46554733 2019.~~07086939~~06800413 0.00000000 A-2 155,630,000.00 ~~1000~~967.~~00000000~~10471496 4.~~08872480~~04419636 117.~~37916738~~94462520 0.00000000 A-3 416,837,000.00 ~~1000~~975.~~00000000~~27733656 3.~~84627435~~89239676 76.~~76354810~~32280222 0.00000000 A-PO 11,064,295.07 ~~1000~~969.~~00000000~~51113398 4.~~28705577~~52822974 1210.~~49865257~~25346751 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 21,168,000.00 ~~1000~~991.~~00000000~~35445720 4.~~03745323~~11342923 0.00000000 0.00000000 B-2 16,177,000.00 ~~1000~~991.~~00000000~~35445695 4.~~03745317~~11342956 0.00000000 0.00000000 B-3 12,133,000.00 ~~1000~~991.~~00000000~~35445727 4.~~03745323~~11342949 0.00000000 0.00000000 B-4 10,053,000.00 ~~1000~~991.~~00000000~~35445738 4.~~03745350~~11342982 0.00000000 0.00000000 B-5 7,873,000.00 ~~1000~~991.~~00000000~~35445700 4.~~03745332~~11342944 0.00000000 0.00000000 B-6 17,942,015.00 ~~1000~~991.~~00000000~~34892207 43.~~03744228~~96417069 0.00000000 0.00000000 O 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are 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-1 0.00000000 2423.~~72228863~~53355146 ~~975~~927.~~27771137~~79711230 0.~~97527771~~92779711 2423.~~72228863~~53355146 A-2 0.00000000 1511.~~46789218~~98882156 ~~984~~955.~~53210782~~11589340 0.~~98453211~~95511589 1511.~~46789218~~98882156 A-3 0.00000000 1110.~~60982245~~21519901 ~~988~~965.~~39017755~~06213757 0.~~98839018~~96506214 1110.~~60982245~~21519901 A-PO 0.00000000 1614.~~78570834~~78169815 ~~983~~954.~~21429166~~72943583 0.~~98321429~~95472944 1614.~~78570834~~78169815 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 4.~~03745323~~11342923 ~~995~~987.~~96254677~~24102797 0.~~99596255~~98724103 4.~~03745323~~11342923 B-2 0.00000000 4.~~03745317~~11342956 ~~995~~987.~~96254683~~24102800 0.~~99596255~~98724103 4.~~03745317~~11342956 B-3 0.00000000 4.~~03745323~~11342949 ~~995~~987.~~96254677~~24102778 0.~~99596255~~98724103 4.~~03745323~~11342949 B-4 0.00000000 4.~~03745350~~11342982 ~~995~~987.~~96254650~~24102755 0.~~99596255~~98724103 4.~~03745350~~11342982 B-5 0.00000000 4.~~03745332~~11342944 ~~995~~987.~~96254668~~24102756 0.~~99596255~~98724103 4.~~03745332~~11342944 B-6 0.~~00557184~~14923575 4.~~04301412~~11340644 ~~995~~987.~~95698588~~23551563 0.~~99595699~~98723552 43.~~03744228~~96417069 O 0.00000000 0.00000000 1,000.00000000 1.00000000 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-1 117,197,000.00 3.45000% ~~117~~111,~~197~~493,~~000~~099.0080 ~~336~~320,~~941~~542.3866 0.00 0.00 A-2 155,630,000.00 3.45000% ~~155~~150,~~630~~510,~~000~~506.0079 ~~447~~432,~~436~~717.2571 0.00 0.00 A-3 416,837,000.00 3.45000% ~~416~~406,~~837~~531,~~000~~679.0014 1,~~198~~168,~~406~~778.3858 0.00 0.00 A-PO 11,064,295.07 0.00000% 1110,~~064~~726,~~295~~957.0726 0.00 0.00 0.00 A-IO 0.00 3.45000% 4139,~~189~~655,~~866~~141.6797 ~~118~~114,~~420~~008.8753 0.00 0.00 B-1 21,168,000.00 3.45000% 2120,~~168~~984,~~000~~991.0015 60,~~858~~331.0085 0.00 0.00 B-2 16,177,000.00 3.45000% 16,~~177~~037,~~000~~141.0005 46,~~508~~106.8878 0.00 0.00 B-3 12,133,000.00 3.45000% 12,~~133~~028,~~000~~103.0063 34,~~882~~580.3880 0.00 0.00 B-4 10,053,000.00 3.45000% 109,~~053~~966,~~000~~086.0036 28,~~902~~652.3850 0.00 0.00 B-5 7,873,000.00 3.45000% 7,~~873~~804,~~000~~933.0064 22,~~634~~439.8818 0.00 0.00 B-6 17,942,015.00 3.45000% 17,~~942~~786,~~015~~797.0023 51,~~583~~137.2904 0.00 0.00 O 100.00 3.45000% 100.00 0.29 0.00 0.00 Totals 786,074,410.07 2,~~346~~279,~~574~~295.9892 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-1 0.0500 0.00 ~~336~~320,~~941~~542.3265 0.00 ~~114~~108,~~299~~735,~~621~~038.9417 A-2 0.0700 0.00 ~~447~~432,~~436~~717.1869 0.00 ~~153~~148,~~222~~644,~~731~~686.9449 A-3 0.1700 0.00 1,~~198~~168,~~406~~778.2054 0.00 ~~411~~402,~~997~~273,~~596~~606.4424 A-PO 0.00 0.00 0.00 0.00 10,~~878~~563,~~573~~408.0419 A-IO 0.0200 0.00 ~~118~~114,~~420~~008.8553 0.00 4039,~~682~~199,~~872~~141.2240 B-1 0.0100 0.00 60,~~857~~331.9985 0.00 2120,~~082~~897,~~535~~918.1908 B-2 0.0100 0.00 46,~~508~~106.8778 0.00 1615,~~111~~970,~~686~~598.1211 B-3 0.0100 0.00 34,~~882~~580.3780 0.00 1211,~~084~~978,~~013~~195.5839 B-4 0.00 0.00 28,~~902~~652.3750 0.00 109,~~012~~924,~~411~~734.4805 B-5 0.00 0.00 22,~~634~~439.8718 0.00 7,~~841~~772,~~213~~548.1361 B-6 0.0100 0.00 51,~~583~~137.2904 0.00 17,~~869~~712,~~475~~994.1843 O 0.00 0.00 0.29 0.00 100.00 Totals 0.3500 0.00 2,~~346~~279,~~574~~295.6085 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-1 117,197,000.00 3.45000% ~~1000~~951.~~00000000~~33066375 2.~~87500004~~73507564 0.00000000 0.00000000 A-2 155,630,000.00 3.45000% ~~1000~~967.~~00000000~~10471496 2.~~87500000~~78042607 0.00000000 0.00000000 A-3 416,837,000.00 3.45000% ~~1000~~975.~~00000000~~27733656 2.~~87500001~~80392235 0.00000000 0.00000000 A-PO 11,064,295.07 0.00000% ~~1000~~969.~~00000000~~51113398 0.00000000 0.00000000 0.00000000 A-IO 0.00 3.45000% ~~1000~~962.~~00000000~~74023627 2.~~87500008~~76787810 0.00000000 0.00000000 B-1 21,168,000.00 3.45000% ~~1000~~991.~~00000000~~35445720 2.~~87500000~~85014409 0.00000000 0.00000000 B-2 16,177,000.00 3.45000% ~~1000~~991.~~00000000~~35445695 2.~~87500031~~85014403 0.00000000 0.00000000 B-3 12,133,000.00 3.45000% ~~1000~~991.~~00000000~~35445727 2.~~87500041~~85014423 0.00000000 0.00000000 B-4 10,053,000.00 3.45000% ~~1000~~991.~~00000000~~35445738 2.~~87500050~~85014424 0.00000000 0.00000000 B-5 7,873,000.00 3.45000% ~~1000~~991.~~00000000~~35445700 2.~~87500064~~85014353 0.00000000 0.00000000 B-6 17,942,015.00 3.45000% ~~1000~~991.~~00000000~~34892207 2.~~87499983~~85012804 0.00000000 0.00000000 O 100.00 3.45000% 1000.00000000 2.90000000 0.00000000 0.00000000 (5) All Classes are per $1,000 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 A-1 0.~~00000043~~00000000 0.00000000 2.~~87499953~~73507556 0.00000000 ~~975~~927.~~27771137~~79711230 A-2 0.~~00000045~~00000000 0.00000000 2.~~87499955~~78042595 0.00000000 ~~984~~955.~~53210782~~11589340 A-3 0.~~00000041~~00000000 0.00000000 2.~~87499958~~80392225 0.00000000 ~~988~~965.~~39017755~~06213757 A-PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~983~~954.~~21429166~~72943583 A-IO 0.~~00000049~~00000000 0.00000000 2.~~87499960~~76787810 0.00000000 ~~987~~951.~~69128208~~66953839 B-1 0.~~00000047~~00000000 0.00000000 2.~~87499953~~85014409 0.00000000 ~~995~~987.~~96254677~~24102797 B-2 0.~~00000062~~00000000 0.00000000 2.~~87499969~~85014403 0.00000000 ~~995~~987.~~96254683~~24102800 B-3 0.~~00000082~~00000000 0.00000000 2.~~87499959~~85014423 0.00000000 ~~995~~987.~~96254677~~24102778 B-4 0.00000000 0.00000000 2.~~87499950~~85014424 0.00000000 ~~995~~987.~~96254650~~24102755 B-5 0.00000000 0.00000000 2.~~87499936~~85014353 0.00000000 ~~995~~987.~~96254668~~24102756 B-6 0.~~00000056~~00000000 0.00000000 2.~~87499983~~85012804 0.00000000 ~~995~~987.~~95698588~~23551563 O 0.00000000 0.00000000 2.90000000 0.00000000 1000.00000000 (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 Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage A-1 (a) 3.45000% 0.00 0.00 7569,~~526~~822,~~705~~805.92 72 67,~~629~~064,~~327~~744.8609 9688.~~16377012~~79606660% A-1 (b) 3.45000% 0.00 0.00 41,670,294.08 41,670,294.08 100.00000000% A-2 (1) 3.45000% 0.00 0.00 5,776,810.75 5,776,810.75 100.00000000% A-2 (2) 3.45000% 0.00 0.00 ~~149~~144,~~853~~733,~~189~~696.2504 ~~147~~142,~~445~~867,~~921~~875.1974 9895.~~39358236~~33856200% A-3 (1) 3.45000% 0.00 0.00 31,021,012.03 31,021,012.03 100.00000000% A-3 (2) 3.45000% 0.00 0.00 9693,~~668~~365,~~498~~974.7394 9592,~~115~~162,~~598~~356.9259 9895.~~39358237~~33856199% A-3 (3) 3.45000% 0.00 0.00 ~~289~~282,~~147~~144,~~489~~692.2418 ~~285~~279,~~860~~090,~~985~~237.5061 9896.~~86338154~~52175723% A-PO (1) 0.00000% 0.00 0.00 32,~~076~~967,~~481~~576.8367 32,~~017~~910,~~090~~160.3241 9894.~~06949908~~59377857% A-PO (2) 0.00000% 0.00 0.00 4,~~838~~701,~~177~~886.5456 4,~~771~~641,~~258~~670.9189 9895.~~61686287~~93841589% A-PO (3) 0.00000% 0.00 0.00 3,~~149~~057,~~635~~494.7003 3,~~090~~011,~~223~~576.8189 9895.~~11369010~~61667370% A-IO (1) 3.45000% 4,~~640~~500,~~967~~393.7248 4,~~589~~437,~~044~~505.0147 0.00 0.00 9895.~~88118787~~61595205% A-IO (2) 3.45000% 1110,~~528~~826,~~397~~207.4209 1110,~~375~~721,~~309~~215.3974 0.00 0.00 9892.~~67207883~~99831841% A-IO (3) 3.45000% 2524,~~020~~328,~~501~~541.5341 24,~~718~~040,~~518~~420.8319 0.00 0.00 9896.~~79305897~~08288691%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1311,~~093~~776,~~836~~840.3357 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 9055,~~653~~283.6886 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 1311,~~184~~832,~~490~~124.0143 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~163~~158,~~563~~937.3586 Payment of Interest and Principal 1311,~~020~~673,~~926~~186.6657 Total Withdrawals (Pool Distribution Amount) 1311,~~184~~832,~~490~~124.0143 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~163~~158,~~563~~937.3586 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~163~~158,~~563~~937.3586

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 ~~617~~311 0 0 0 ~~617~~311 179,~~653~~154,~~273~~300.7544 0.00 0.00 0.00 179,~~653~~154,~~273~~300.7544 60 Days ~~162~~78 0 0 0 ~~162~~78 42,~~142~~694,~~908~~569.5869 0.00 0.00 0.00 42,~~142~~694,~~908~~569.5869 90 Days 1338 0 0 0 1338 ~~304~~998,~~220~~968.4765 0.00 0.00 0.00 ~~304~~998,~~220~~968.4765 120 Days 226 0 0 0 226 74852,~~894~~155.1879 0.00 0.00 0.00 74852,~~894~~155.1879 150 Days 04 0 0 0 04 087,417.0063 0.00 0.00 0.00 087,417.0063 180+ Days 01 0 0 0 01 016,368.0083 0.00 0.00 0.00 016,368.0083 Totals ~~794~~458 0 0 0 ~~794~~458 2213,~~175~~803,~~296~~781.9803 0.00 0.00 0.00 2213,~~175~~803,~~296~~781.9803 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 21.~~487903~~285921% 0.000000% 0.000000% 0.000000% 21.~~487903~~285921% 21.~~276667~~213336% 0.000000% 0.000000% 0.000000% 21.~~276667~~213336% 60 Days 0.~~653226~~322514% 0.000000% 0.000000% 0.000000% 0.~~653226~~322514% 0.~~534293~~357146% 0.000000% 0.000000% 0.000000% 0.~~534293~~357146% 90 Days 0.~~052419~~157122% 0.000000% 0.000000% 0.000000% 0.~~052419~~157122% 0.~~039234~~132406% 0.000000% 0.000000% 0.000000% 0.~~039234~~132406% 120 Days 0.~~008065~~107505% 0.000000% 0.000000% 0.000000% 0.~~008065~~107505% 0.~~009659~~112947% 0.000000% 0.000000% 0.000000% 0.~~009659~~112947% 150 Days 0.~~000000~~016539% 0.000000% 0.000000% 0.000000% 0.~~000000~~016539% 0.~~000000~~011587% 0.000000% 0.000000% 0.000000% 0.~~000000~~011587% 180+ Days 0.~~000000~~004135% 0.000000% 0.000000% 0.000000% 0.~~000000~~004135% 0.~~000000~~002170% 0.000000% 0.000000% 0.000000% 0.~~000000~~002170% Totals 31.~~201613~~893736% 0.000000% 0.000000% 0.000000% 31.~~201613~~893736% 21.~~859853~~829590% 0.000000% 0.000000% 0.000000% 21.~~859853~~829590%

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 5923 0 0 0 5923 1798,~~692,899~~258.6623 0.00 0.00 0.00 1798,~~692,899~~258.6623 60 Days 43 0 0 0 43 ~~131~~194,~~786~~614.9893 0.00 0.00 0.00 ~~131~~194,~~786~~614.9893 90 Days 1 0 0 0 1 4820,~~086~~958.2122 0.00 0.00 0.00 4820,~~086~~958.2122 120 Days 01 0 0 0 01 020,457.0050 0.00 0.00 0.00 020,457.0050 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 6428 0 0 0 6428 1,~~872~~034,~~772~~288.8588 0.00 0.00 0.00 1,~~872~~034,~~772~~288.8588 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~120182~~450450% 0.000000% 0.000000% 0.000000% 10.~~120182~~450450% 0.~~977551~~476965% 0.000000% 0.000000% 0.000000% 0.~~977551~~476965% 60 Days 0.~~075945~~058754% 0.000000% 0.000000% 0.000000% 0.~~075945~~058754% 0.~~076099~~116284% 0.000000% 0.000000% 0.000000% 0.~~076099~~116284% 90 Days 0.~~018986~~019585% 0.000000% 0.000000% 0.000000% 0.~~018986~~019585% 0.~~027767~~012523% 0.000000% 0.000000% 0.000000% 0.~~027767~~012523% 120 Days 0.~~000000~~019585% 0.000000% 0.000000% 0.000000% 0.~~000000~~019585% 0.~~000000~~012224% 0.000000% 0.000000% 0.000000% 0.~~000000~~012224% 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 10.~~215113~~548374% 0.000000% 0.000000% 0.000000% 10.~~215113~~548374% 10.~~081417~~617996% 0.000000% 0.000000% 0.000000% 10.~~081417~~617996% 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 ~~149~~69 0 0 0 ~~149~~69 42,~~775~~988,~~291~~940.5206 0.00 0.00 0.00 42,~~775~~988,~~291~~940.5206 60 Days 4316 0 0 0 4316 ~~999~~521,~~457~~723.2852 0.00 0.00 0.00 ~~999~~521,~~457~~723.2852 90 Days 213 0 0 0 213 57213,~~007~~588.9968 0.00 0.00 0.00 57213,~~007~~588.9968 120 Days 15 0 0 0 15 17121,~~605~~013.8303 0.00 0.00 0.00 17121,~~605~~013.8303 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 ~~195~~103 0 0 0 ~~195~~103 53,~~849~~845,~~362~~265.6229 0.00 0.00 0.00 53,~~849~~845,~~362~~265.6229 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 10.~~897364~~909091% 0.000000% 0.000000% 0.000000% 10.~~897364~~909091% 1.~~718854~~107509% 0.000000% 0.000000% 0.000000% 1.~~718854~~107509% 60 Days 0.~~547561~~210804% 0.000000% 0.000000% 0.000000% 0.~~547561~~210804% 0.~~359752~~193317% 0.000000% 0.000000% 0.000000% 0.~~359752~~193317% 90 Days 0.~~025468~~171278% 0.000000% 0.000000% 0.000000% 0.~~025468~~171278% 0.~~020520~~079142% 0.000000% 0.000000% 0.000000% 0.~~020520~~079142% 120 Days 0.~~012734~~065876% 0.000000% 0.000000% 0.000000% 0.~~012734~~065876% 0.~~006337~~044840% 0.000000% 0.000000% 0.000000% 0.~~006337~~044840% 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.~~483127~~357049% 0.000000% 0.000000% 0.000000% 21.~~483127~~357049% 21.~~105463~~424808% 0.000000% 0.000000% 0.000000% 21.~~105463~~424808% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 3 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 ~~409~~219 0 0 0 ~~409~~219 115,~~185~~367,~~082~~102.5715 0.00 0.00 0.00 115,~~185~~367,~~082~~102.5715 60 Days ~~115~~59 0 0 0 ~~115~~59 31,~~011~~978,~~664~~231.3224 0.00 0.00 0.00 31,~~011~~978,~~664~~231.3224 90 Days 1024 0 0 0 1024 ~~199~~764,~~126~~421.2775 0.00 0.00 0.00 ~~199~~764,~~126~~421.2775 120 Days 120 0 0 0 120 57710,~~288~~685.3526 0.00 0.00 0.00 57710,~~288~~685.3526 150 Days 04 0 0 0 04 087,417.0063 0.00 0.00 0.00 087,417.0063 180 Days 01 0 0 0 01 016,368.0083 0.00 0.00 0.00 016,368.0083 Totals ~~535~~327 0 0 0 ~~535~~327 148,~~453~~924,~~161~~226.5186 0.00 0.00 0.00 148,~~453~~924,~~161~~226.5186 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 31.~~501712~~906171% 0.000000% 0.000000% 0.000000% 31.~~501712~~906171% 31.~~447888~~691852% 0.000000% 0.000000% 0.000000% 31.~~447888~~691852% 60 Days 0.~~984589~~513535% 0.000000% 0.000000% 0.000000% 0.~~984589~~513535% 0.~~928369~~623590% 0.000000% 0.000000% 0.000000% 0.~~928369~~623590% 90 Days 0.~~085616~~208895% 0.000000% 0.000000% 0.000000% 0.~~085616~~208895% 0.~~061382~~240966% 0.000000% 0.000000% 0.000000% 0.~~061382~~240966% 120 Days 0.~~008562~~174080% 0.000000% 0.000000% 0.000000% 0.~~008562~~174080% 0.~~017660~~224027% 0.000000% 0.000000% 0.000000% 0.~~017660~~224027% 150 Days 0.~~000000~~034816% 0.000000% 0.000000% 0.000000% 0.~~000000~~034816% 0.~~000000~~027556% 0.000000% 0.000000% 0.000000% 0.~~000000~~027556% 180 Days 0.~~000000~~008704% 0.000000% 0.000000% 0.000000% 0.~~000000~~008704% 0.~~000000~~005160% 0.000000% 0.000000% 0.000000% 0.~~000000~~005160% Totals 42.~~580479~~846201% 0.000000% 0.000000% 0.000000% 42.~~580479~~846201% 42.~~455299~~813151% 0.000000% 0.000000% 0.000000% 42.~~455299~~813151%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 9155,~~006~~283.4786

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 372,522.00 0.04739017% 372,522.00 0.~~04804256~~04937507% Fraud 23,582,230.00 2.99999971% 23,582,230.00 3.~~04129885~~12565249% Special Hazard 24,500,000.00 3.11675329% 24,500,000.00 3.~~15965970~~24729621% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 3.~~779416~~830336% Weighted Average Pass-Through Rate 3.~~529725~~580653% Weighted Average Maturity(Stepdown Calculation ) 1 Beginning Scheduled Collateral Loan Count 2524,~~112~~484 Number Of Loans Paid In Full ~~312~~299 Ending Scheduled Collateral Loan Count 24,~~800~~185 Beginning Scheduled Collateral Balance ~~786~~763,~~074~~870,~~410~~396.0705 Ending Scheduled Collateral Balance ~~775~~754,~~399~~473,~~958~~827.0276 Ending Actual Collateral Balance at 2830-~~Feb~~Apr-2002 ~~775~~754,~~399~~473,~~958~~827.0276 Monthly P &I Constant 5,~~686~~615,~~881~~459.8876 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 1210,~~245~~918,~~254~~002.8560 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~775~~754,~~399~~473,~~958~~827.0276 Scheduled Principal 3,176,~~743~~408.9009 Unscheduled Principal 76,~~497~~220,~~608~~160.3820

Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 3.~~730630~~731062 3.~~781605~~777097 3.~~929594~~928446 Weighted Average Net Rate 3.~~483164~~481062 3.~~531857~~527355 3.~~678736~~678982 Weighted Average Maturity ~~325~~323 318 320 ~~322~~ Beginning Loan Count 5,~~414~~191 7,~~980~~714 11,~~718~~579 Loans Paid In Full ~~147~~85 ~~127~~124 3890 Ending Loan Count 5,~~267~~106 7,~~853~~590 11,~~680~~489 Beginning Scheduled Balance ~~176~~170,~~202~~244,~~200~~342.6722 ~~281~~273,~~975~~141,~~459~~113.5387 ~~327~~320,~~896~~484,~~650~~939.1096 Ending scheduled Balance ~~173~~167,~~177~~361,~~708~~859.8844 ~~277~~269,~~818~~879,~~368~~523.6701 ~~324~~317,~~403~~232,~~880~~445.4731 Record Date 0204/2830/2002 0204/2830/2002 0204/2830/2002 Principal And Interest Constant 1,~~171~~130,~~728~~600.9985 2,~~084~~049,~~713~~588.2961 2,~~430~~435,~~439~~270.6030 Scheduled Principal ~~623~~601,~~941~~274.2904 1,~~196~~189,~~113~~036.4792 1,~~356~~386,~~689~~097.1413 Unscheduled Principal 2,~~400~~281,~~550~~208.5074 2,~~960~~072,~~977~~553.3994 21,~~136~~866,~~080~~397.4952 Scheduled Interest ~~547~~529,~~787~~326.7081 ~~888~~859,~~599~~733.8278 1,~~073~~049,~~750~~173.4617 Servicing Fees 3635,~~708~~467.7956 5856,~~685~~845.6864 6866,~~168~~624.8866 Master Servicing Fees 0.00 0.00 0.00 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 ~~511~~493,~~078~~859.9125 ~~829~~802,~~914~~888.14 1982,~~005,581~~548.5851 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 3.~~480630~~481062 3.~~535414~~527355 3.~~687832~~678982

Group Level Collateral Statement Group Total Collateral Description Mixed Fixed Weighted Average Coupon Rate 3.~~779416~~830336 Weighted Average Net Rate 3.~~529725~~580653 Weighted Average Maturity 1 Beginning Loan Count 2524,~~112~~484 Loans Paid In Full ~~312~~299 Ending Loan Count 24,~~800~~185 Beginning Scheduled Balance ~~786~~763,~~074~~870,~~310~~396.3005 Ending scheduled Balance ~~775~~754,~~399~~473,~~958~~827.0276 Record Date 0204/2830/2002 Principal And Interest Constant 5,~~686~~615,~~881~~459.8876 Scheduled Principal 3,176,~~743~~408.9009 Unscheduled Principal 76,~~497~~220,~~608~~160.3820 Scheduled Interest 2,~~510~~438,~~137~~233.9876 Servicing Fees ~~163~~158,~~563~~937.3586 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 2,~~346~~279,~~574~~295.6390 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.00 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 3.~~529725~~580653

Filing Compare · STRUCTURED ASSET SEC CORP PASS THROUGH CERT SERIES 2002-AL1