8-K 1 arc02bc2.txt JULY 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): July 25, 2002 AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-82904-06 04-3678727 Pooling and Servicing Agreement) (Commission 04-3678721 (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 July 25, 2002 a distribution was made to holders of AMORTIZING RESIDENTIAL COLLATERAL TRUST, Mortgage Pass-Through Certificates, Series 2002-BC2 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-BC2 Trust, relating to the July 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. AMORTIZING RESIDENTIAL COLLATERAL TRUST Mortgage Pass-Through Certificates, Series 2002-BC2 Trust By: Wells Fargo Bank Minnesota, NA, as Securities Administrator By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 7/30/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-BC2 Trust, relating to the July 25, 2002 distribution. EX-99.1

Amortizing Residential Collateral Mortgage ~~Trus~~Trust Mortgage Pass-Through Certificates Record Date: 46/30/02 Distribution Date: 57/2825/02 ARC Series: 2002-BC2 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 86358RC39 SEN 2.~~16000~~15000% ~~612~~602,~~803~~981,~~000~~433.0032 1,~~213~~080,~~349~~341.9473 410,~~018~~645,~~383~~779.4911 A-IO 86358RC47 SEN 6.00000% 0.00 1,093,108.0708 0.00 M1M-1 86358RC54 SUB 2.~~60000~~59000% 24,843,000.00 5953,~~209~~619.1548 0.00 M2M-2 86358RC62 SUB 3.~~05000~~04000% 14,906,000.00 4137,~~674~~761.6987 0.00 B 86358RC70 SUB 3.~~70000~~69000% 6,625,000.00 2220,~~469~~371.7988 0.00 X ARC02BC2X SEN 0.00000% 3,312,743.25 1,~~755~~833,~~132~~595.4794 0.00 P ARC02BC2P SEN 0.00000% 0.00 3280,~~177~~906.2877 0.00 R1R-I ARC02B2R1 RES 0.00000% 0.00 0.00 0.00 R2R-II ARC02B2R2 RES 0.00000% 0.00 0.00 0.00 R3R-III ARC02B2R3 RES 0.00000% 0.00 0.00 0.00 Totals ~~662~~652,~~489~~668,~~743~~176.2557 4,~~217~~199,~~121~~705.3975 410,~~018~~645,~~383~~779.4911

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A 0.00 ~~608~~592,~~784~~335,~~616~~654.5121 511,~~231~~726,~~733~~120.4384 0.00 A-IO 0.00 0.00 1,093,108.0708 0.00 M1M-1 0.00 24,843,000.00 5953,~~209~~619.1548 0.00 M2M-2 0.00 14,906,000.00 4137,~~674~~761.6987 0.00 B 0.00 6,625,000.00 2220,~~469~~371.7988 0.00 X 0.00 3,312,743.25 1,~~755~~833,~~132~~595.4794 0.00 P 0.00 0.00 3280,~~177~~906.2877 0.00 R1R-I 0.00 0.00 0.00 0.00 R2R-II 0.00 0.00 0.00 0.00 R3R-III 0.00 0.00 0.00 0.00 Totals 0.00 ~~658~~642,~~471~~022,~~359~~397.7646 814,~~235~~845,~~504~~484.8886 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 612,803,000.00 ~~612~~602,~~803~~981,~~000~~433.0032 0.00 410,~~018~~645,~~383~~779.4911 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M1M-1 24,843,000.00 24,843,000.00 0.00 0.00 0.00 0.00 M2M-2 14,906,000.00 14,906,000.00 0.00 0.00 0.00 0.00 B 6,625,000.00 6,625,000.00 0.00 0.00 0.00 0.00 X 3,312,743.25 3,312,743.25 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 R1R-I 0.00 0.00 0.00 0.00 0.00 0.00 R2R-II 0.00 0.00 0.00 0.00 0.00 0.00 R3R-III 0.00 0.00 0.00 0.00 0.00 0.00 Totals 662,489,743.25 ~~662~~652,~~489~~668,~~743~~176.2557 0.00 410,~~018~~645,~~383~~779.4911 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 410,~~018~~645,~~383~~779.4911 ~~608~~592,~~784~~335,~~616~~654.5121 0.~~99344262~~96660045 410,~~018~~645,~~383~~779.4911 A-IO 0.00 0.00 0.00000000 0.00 M1M-1 0.00 24,843,000.00 1.00000000 0.00 M2M-2 0.00 14,906,000.00 1.00000000 0.00 B 0.00 6,625,000.00 1.00000000 0.00 X 0.00 3,312,743.25 1.00000000 0.00 P 0.00 0.00 0.00000000 0.00 R1R-I 0.00 0.00 0.00000000 0.00 R2R-II 0.00 0.00 0.00000000 0.00 R3R-III 0.00 0.00 0.00000000 0.00 Totals 410,~~018~~645,~~383~~779.4911 ~~658~~642,~~471~~022,~~359~~397.7646 0.~~99393442~~96910541 410,~~018~~645,~~383~~779.4911

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A 612,803,000.00 ~~1000~~983.~~00000000~~97271769 0.00000000 617.~~55738221~~37226990 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M1M-1 24,843,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2M-2 14,906,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 6,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,312,743.25 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R1R-I 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R2R-II 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R3R-III 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A 0.00000000 617.~~55738221~~37226990 ~~993~~966.~~44261779~~60044779 0.~~99344262~~96660045 617.~~55738221~~37226990 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M1M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R1R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3R-III 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 612,803,000.00 2.~~16000~~15000% ~~612~~602,~~803~~981,~~000~~433.0032 1,~~213~~080,~~349~~341.9473 0.00 0.00 A-IO 0.00 6.00000% 218,621,615.00 1,093,108.08 0.00 0.00 M1M-1 24,843,000.00 2.~~60000~~59000% 24,843,000.00 5953,~~209~~619.1548 0.00 0.00 M2M-2 14,906,000.00 3.~~05000~~04000% 14,906,000.00 4137,~~674~~761.6987 0.00 0.00 B 6,625,000.00 3.~~70000~~69000% 6,625,000.00 2220,~~469~~371.7988 0.00 0.00 X 3,312,743.25 0.00000% 3,312,743.25 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 R1R-I 0.00 0.00000% 0.00 0.00 0.00 0.00 R2R-II 0.00 0.00000% 0.00 0.00 0.00 0.00 R3R-III 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 662,489,743.25 2,~~429~~285,~~811~~203.6504 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 0.00 0.00 1,~~213~~080,~~349~~341.9473 0.00 ~~608~~592,~~784~~335,~~616~~654.5121 A-IO 0.00 0.00 1,093,108.0708 0.00 218,621,615.00 M1M-1 0.00 0.00 5953,~~209~~619.1548 0.00 24,843,000.00 M2M-2 0.00 0.00 4137,~~674~~761.6987 0.00 14,906,000.00 B 0.00 0.00 2220,~~469~~371.7988 0.00 6,625,000.00 X 0.00 0.00 1,~~755~~833,~~132~~595.4794 0.00 3,312,743.25 P 0.00 0.00 3280,~~177~~906.2877 0.00 0.01 R1R-I 0.00 0.00 0.00 0.00 0.00 R2R-II 0.00 0.00 0.00 0.00 0.00 R3R-III 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 4,~~217~~199,~~121~~705.3975 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 612,803,000.00 2.~~16000~~15000% ~~1000~~983.~~00000000~~97271769 1.~~98000000~~76295111 0.00000000 0.00000000 A-IO 0.00 6.00000% 1000.00000000 5.00000002 0.00000000 0.00000000 M1M-1 24,843,000.00 2.~~60000~~59000% 1000.00000000 2.~~38333333~~15833353 0.00000000 0.00000000 M2M-2 14,906,000.00 3.~~05000~~04000% 1000.00000000 2.~~79583322~~53333356 0.00000000 0.00000000 B 6,625,000.00 3.~~70000~~69000% 1000.00000000 3.~~39166642~~07500075 0.00000000 0.00000000 X 3,312,743.25 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R1R-I 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R2R-II 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R3R-III 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1000 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 0.00000000 0.00000000 1.~~98000000~~76295111 0.00000000 ~~993~~966.~~44261779~~60044779 A-IO 0.00000000 0.00000000 45.~~99999998~~00000002 0.00000000 1000.00000000 M1M-1 0.00000000 0.00000000 2.~~38333333~~15833353 0.00000000 1000.00000000 M2M-2 0.00000000 0.00000000 2.~~79583322~~53333356 0.00000000 1000.00000000 B 0.00000000 0.00000000 3.~~39166642~~07500075 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~529~~553.~~81240547~~49775145 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R1R-I 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R2R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R3R-III 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 815,~~959~~438,~~484~~647.3079 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 33153,~~439~~288.2956 Realized Losses 0.00 Prepayment Penalties 3280,~~177~~906.2877 Total Deposits 915,~~025~~672,~~100~~843.8712 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~789~~827,~~595~~358.9926 Payment of Interest and Principal 814,~~235~~845,~~504~~484.8886 Total Withdrawals (Pool Distribution Amount) 915,~~025~~672,~~100~~843.8712 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~265~~816,~~560~~923.7152 Credit Risk Manager Fee 78,~~966~~152.8214 ~~Pool Insurance Fee 513,837.73~~ Securities Administrator Fee 2,~~230~~282.7360 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~789~~827,~~595~~358.9926

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 21 0 0 21 ~~161~~89,~~374~~833.3943 0.00 0.00 ~~161~~89,~~374~~833.3943 30 Days 2472 0 0 0 2472 311,~~386~~119,~~083~~549.8388 0.00 0.00 0.00 311,~~386~~119,~~083~~549.8388 60 Days 745 0 0 0 745 16,~~112~~090,~~929~~208.2721 0.00 0.00 0.00 16,~~112~~090,~~929~~208.2721 90 Days 012 0 08 0 020 01,774,315.0022 0.00 01,220,374.0075 0.00 02,994,689.0097 120 Days 03 0 01 0 04 0405,512.0045 0.00 097,600.00 0.00 0503,112.0045 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 31132 21 09 0 33142 419,~~499~~389,~~013~~585.1076 ~~161~~89,~~374~~833.3943 01,317,974.0075 0.00 420,~~660~~797,~~387~~393.4994 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.~~045372~~022346% 0.000000% 0.000000% 0.~~045372~~022346% 0.~~025468~~013985% 0.000000% 0.000000% 0.~~025468~~013985% 30 Days 01.~~544465~~608939% 0.000000% 0.000000% 0.000000% 01.~~544465~~608939% 01.~~534385~~731003% 0.000000% 0.000000% 0.000000% 01.~~534385~~731003% 60 Days 01.~~158802~~005587% 0.000000% 0.000000% 0.000000% 01.~~158802~~005587% 0.~~175640~~948075% 0.000000% 0.000000% 0.000000% 0.~~175640~~948075% 90 Days 0.~~000000~~268156% 0.000000% 0.~~000000~~178771% 0.000000% 0.~~000000~~446927% 0.~~000000~~276211% 0.000000% 0.~~000000~~189978% 0.000000% 0.~~000000~~466189% 120 Days 0.~~000000~~067039% 0.000000% 0.~~000000~~022346% 0.000000% 0.~~000000~~089385% 0.~~000000~~063127% 0.000000% 0.~~000000~~015194% 0.000000% 0.~~000000~~078321% 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 02.~~703267~~949721% 0.~~045372~~022346% 0.~~000000~~201117% 0.000000% 03.~~748639~~173184% 03.~~710026~~018416% 0.~~025468~~013985% 0.~~000000~~205172% 0.000000% 03.~~735494~~237572%

~~DELINQUENT~~OTHER ~~BANKRUPTCY~~INFORMATION ~~FORECLOSURE~~Current ~~REO~~Period ~~Total~~Class 1A NoInsufficient ofFunds ~~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 1 0 0 1 89,944~~.~~11 0.~~00 0.00 89,944.11 30 Days 17 0 0 0 17 2,722,296.97 0.00 0.00 0.00 2,722,296.97 60 Days 4 0 0 0 4 870,135.45 0.00 0.00 0.00 870,135.45 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 21 1 0 0 22 3,592,432.42 89,944.11 0.00 0.00 3,682,376.53 0-29 Days 0.033501% 0.000000% 0.000000% 0.033501% 0.018952% 0.000000% 0.000000% 0.018952% 30 Days 0.569514% 0.000000% 0.000000% 0.000000% 0.569514% 0.573605% 0.000000% 0.000000% 0.000000% 0.573605% 60 Days 0.134003% 0.000000% 0.000000% 0.000000% 0.134003% 0.183343% 0.000000% 0.000000% 0.000000% 0.183343% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.703518% 0.033501% 0.000000% 0.000000% 0.737018% 0.756948% 0.018952% 0.000000% 0.000000% 0.775899% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance ~~Principal~~of ~~Balance~~Contaminated ~~Principal~~Properties ~~Balance Principal Balance Principal Balance~~ 0~~-29 Days 1 0 0 1 71,430~~.~~28 0.~~00 ~~0.00~~Periodic ~~71,430.28~~Advance ~~30 Days 7 0 0 0 7 663~~153,~~786~~288.86 0.00 0.00 0.00 663,786.86 60 Days 3 0 0 0 3 242,793.82 0.00 0.00 0.00 242,793.82 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 10 1 0 0 11 906,580.68 71,430.28 0.00 0.00 978,010.96 0-29 Days 0.070274% 0.000000% 0.000000% 0.070274% 0.044912% 0.000000% 0.000000% 0.044912% 30 Days 0.491918% 0.000000% 0.000000% 0.000000% 0.491918% 0.417355% 0.000000% 0.000000% 0.000000% 0.417355% 60 Days 0.210822% 0.000000% 0.000000% 0.000000% 0.210822% 0.152656% 0.000000% 0.000000% 0.000000% 0.152656% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.702741% 0.070274% 0.000000% 0.000000% 0.773015% 0.570011% 0.044912% 0.000000% 0.000000% 0.614922%56

~~OTHER~~COLLATERAL ~~INFORMATION~~STATEMENT ~~Current~~Collateral ~~Period~~Description ~~Class~~Mixed AFixed ~~Insufficient~~& ~~Funds~~Arm Weighted Average Gross Coupon 9.113880% Weighted Average Net Coupon 7.610734% Weighted Average Pass-Through Rate 7.606533% Weighted Average Maturity(Stepdown Calculation ) 347 Beginning Scheduled Collateral Loan Count 4,373 Number Of Loans Paid In Full (102) Ending Scheduled Collateral Loan Count 4,475 Beginning Scheduled Collateral Balance 627,524,140.69 Ending Scheduled Collateral Balance 642,022,397.46 Ending Actual Collateral Balance at 30-Jun-2002 642,376,188.88 Monthly P &I Constant 5,348,106.60 Special Servicing Fee 0.00 ~~Principal~~Prepayment ~~Balance~~Penalties of80,906.77 ~~Contaminated~~Realized ~~Properties~~Loss Amount 0.00 ~~Periodic~~Cumulative ~~Advance~~Realized 33Loss 0.00 Ending Scheduled Balance for Premium Loans 642,~~439~~022,397.46 Scheduled Principal 394,932.29 Unscheduled Principal 10,250,846.82 Extra principal distribution Amount 0.00 Excess Cash Amount 1,840,289.15

~~COLLATERAL~~Libor ~~STATEMENT~~Rate ~~Collateral~~Used ~~Description Mixed Fixed Weighted Average Gross Coupon 9~~1.~~118993~~84% ~~Weighted~~Funds ~~Average~~Remaining ~~Net~~in ~~Coupon~~the ~~7.651535% Weighted Average Pass~~Pre-~~Through~~Funding ~~Rate~~Account 7$0.~~647335%~~00 ~~Weighted~~Subsequent ~~Average~~Mortgage ~~Maturity(Stepdown Calculation ) 349 Beginning Scheduled Collateral Loan Count 4,427 Number Of~~ Loans ~~Paid In Full 19 Ending Scheduled Collateral Loan Count 4~~$24,~~408 Beginning Scheduled Collateral Balance 662~~646,~~489,743~~975.~~25 Ending Scheduled Collateral Balance 633,327,323.88 Ending Actual Collateral Balance at 30-Apr-2002 633,640,765.38 Monthly P &I Constant 5,415,463.32 Special Servicing Fee 0.~~00 ~~Prepayment~~Remaining ~~Penalties~~Funds ~~32,177.28~~in ~~Realized~~the ~~Loss~~Capitalized ~~Amount~~Interest $0.00 ~~Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 633,327,323.88 Scheduled Principal 379,376.45 Unscheduled Principal 3,639,006.99~~

Libor Rate Used 1.85% Funds Remaining in the Pre-Funding Account $25,144,035.93 Subsequent Mortgage Loans $0.00 Remaining Funds in the Capitalized Interest Account $160,409.54

Filing Compare · STRUCTURED ASSET SEC CORP MORT PASS THR CERT SER 2002-BC2