8-K 1 wfm02001.txt AUGUST 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): August 26, 2002 WELLS FARGO ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-74308-01 Pooling and Servicing Agreement) (Commission 74-3040754 (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 August 26, 2002 a distribution was made to holders of WELLS FARGO ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 2002-1 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 2002-1 Trust, relating to the August 26, 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. WELLS FARGO ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 2002-1 Trust By: Wells Fargo Bank Minnesota, NA, as Master Servicer By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 9/3/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2002-1 Trust, relating to the August 26, 2002 distribution. EX-99.1

Wells Fargo Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 67/3031/02 Distribution Date: 78/2526/02 WFMBS Series: 2002-1 Contact: Customer Service - SecuritiesLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 846-8130 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-PO 94978CAC8 PO 0.00000% 1,~~033~~032,~~728~~489.8503 0.00 1,~~239~~231.8200 A-1 94978CAA2 SEQ 6.00000% ~~156~~154,~~711~~941,~~531~~793.0420 ~~783~~774,~~557~~708.6697 1,~~769~~435,~~737~~554.8497 A-2 94978CAB0 SEQ 6.00000% 54,604,000.00 273,020.00 0.00 A-R 94978CAD6 RES 6.00000% 0.00 2733.4800 0.00 B-1 94978CAE4 SUB 6.00000% 2,~~915~~912,~~602~~866.0434 14,~~578~~564.0133 2,~~735~~759.7042 B-2 94978CAF1 SUB 6.00000% 1,~~345~~344,~~815~~552.6285 6,~~729~~722.0876 1,~~262~~273.7772 B-3 94978CAG9 SUB 6.00000% 1,~~009~~008,~~361~~414.7264 5,~~046~~042.8107 ~~947~~955.0829 B-4 94978CAH7 SUB 6.00000% 448,~~937~~515.0278 2,~~244~~242.6958 ~~421~~424.2489 B-5 94978CAJ3 SUB 6.00000% 336,~~453~~138.9121 1,~~682~~680.2769 ~~315~~318.6943 B-6 94978CAK0 SUB 6.00000% ~~449~~448,~~239~~817.1361 2,~~246~~244.2009 ~~421~~425.5217 Totals ~~218~~217,~~854~~077,~~669~~587.3366 1,~~089~~080,~~132~~258.2049 1,~~777~~442,~~081~~942.6689

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-PO 0.00 1,~~032~~031,~~489~~258.03 1,~~239~~231.8200 0.00 A-1 0.00 ~~154~~153,~~941~~506,~~793~~238.2023 2,~~553~~210,~~295~~263.5094 0.00 A-2 0.00 54,604,000.00 273,020.00 0.00 A-R 0.00 0.00 2733.4800 0.00 B-1 0.00 2,~~912~~910,~~866~~106.3492 17,~~313~~323.7175 0.00 B-2 0.00 1,~~344~~343,~~552~~279.8513 7,~~991~~996.8548 0.00 B-3 0.00 1,~~008~~007,~~414~~459.6434 5,~~993~~997.8936 0.00 B-4 0.00 448,~~515~~090.7889 2,~~665~~667.9347 0.00 B-5 0.00 ~~336~~335,~~138~~819.2178 1,~~997~~999.9612 0.00 B-6 0.00 448,~~817~~392.6144 2,~~667~~669.7226 0.00 Totals 0.00 ~~217~~215,~~077~~634,~~587~~644.6676 2,~~866~~523,~~213~~201.8638 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-PO 1,041,073.37 1,~~033~~032,~~728~~489.8503 1,~~065~~071.0829 ~~174~~159.7471 0.00 0.00 A-1 163,161,000.00 ~~156~~154,~~711~~941,~~531~~793.0420 198,~~276~~507.5306 1,~~571~~237,~~461~~047.3191 0.00 0.00 A-2 54,604,000.00 54,604,000.00 0.00 0.00 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 B-1 2,929,000.00 2,~~915~~912,~~602~~866.0434 2,~~735~~759.7042 0.00 0.00 0.00 B-2 1,352,000.00 1,~~345~~344,~~815~~552.6285 1,~~262~~273.7772 0.00 0.00 0.00 B-3 1,014,000.00 1,~~009~~008,~~361~~414.7264 ~~947~~955.0829 0.00 0.00 0.00 B-4 451,000.00 448,~~937~~515.0278 ~~421~~424.2489 0.00 0.00 0.00 B-5 338,000.00 336,~~453~~138.9121 ~~315~~318.6943 0.00 0.00 0.00 B-6 451,303.50 ~~449~~448,~~239~~817.1361 ~~421~~425.5217 0.00 0.00 0.00 Totals 225,341,476.87 ~~218~~217,~~854~~077,~~669~~587.3366 205,~~445~~735.6127 1,~~571~~237,~~636~~207.0562 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-PO 1,~~239~~231.8200 1,~~032~~031,~~489~~258.03 0.~~99175434~~99057190 1,~~239~~231.8200 A-1 1,~~769~~435,~~737~~554.8497 ~~154~~153,~~941~~506,~~793~~238.2023 0.~~94962518~~94082678 1,~~769~~435,~~737~~554.8497 A-2 0.00 54,604,000.00 1.00000000 0.00 A-R 0.00 0.00 0.00000000 0.00 B-1 2,~~735~~759.7042 2,~~912~~910,~~866~~106.3492 0.~~99449175~~99354965 2,~~735~~759.7042 B-2 1,~~262~~273.7772 1,~~344~~343,~~552~~279.8513 0.~~99449175~~99354965 1,~~262~~273.7772 B-3 ~~947~~955.0829 1,~~008~~007,~~414~~459.6434 0.~~99449176~~99354964 ~~947~~955.0829 B-4 ~~421~~424.2489 448,~~515~~090.7889 0.~~99449175~~99354965 ~~421~~424.2489 B-5 ~~315~~318.6943 ~~336~~335,~~138~~819.2178 0.~~99449175~~99354964 ~~315~~318.6943 B-6 ~~421~~425.5217 448,~~817~~392.6144 0.~~99449176~~99354966 ~~421~~425.5217 Totals 1,~~777~~442,~~081~~942.6689 ~~217~~215,~~077~~634,~~587~~644.6676 0.~~96332726~~95692390 1,~~777~~442,~~081~~942.6689

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-PO 1,041,073.37 ~~992~~991.~~94524266~~75433716 1.~~02305950~~02902450 0.~~16784600~~15340898 0.00000000 A-1 163,161,000.00 ~~960~~949.~~47174901~~62517513 1.~~21522012~~21663302 97.~~63135375~~58176225 0.00000000 A-2 54,604,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,929,000.00 ~~995~~994.~~42575623~~49175145 0.~~93400478~~94210311 0.00000000 0.00000000 B-2 1,352,000.00 ~~995~~994.~~42575444~~49175296 0.~~93400148~~94210059 0.00000000 0.00000000 B-3 1,014,000.00 ~~995~~994.~~42575937~~49175542 0.~~93400394~~94210059 0.00000000 0.00000000 B-4 451,000.00 ~~995~~994.~~42576497~~49175166 0.~~93401330~~94210643 0.00000000 0.00000000 B-5 338,000.00 ~~995~~994.~~42576923~~49174556 0.~~93399408~~94210059 0.00000000 0.00000000 B-6 451,303.50 ~~995~~994.~~42576116~~49175555 0.~~93400561~~94209329 0.00000000 0.00000000 (2) 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-PO 0.00000000 1.~~19090550~~18243347 ~~991~~990.~~75433716~~57190369 0.~~99175434~~99057190 1.~~19090550~~18243347 A-1 0.00000000 108.~~84657387~~79839527 ~~949~~940.~~62517513~~82677987 0.~~94962518~~94082678 108.~~84657387~~79839527 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 0.~~93400478~~94210311 ~~994~~993.~~49175145~~54964834 0.~~99449175~~99354965 0.~~93400478~~94210311 B-2 0.00000000 0.~~93400148~~94210059 ~~994~~993.~~49175296~~54965237 0.~~99449175~~99354965 0.~~93400148~~94210059 B-3 0.00000000 0.~~93400394~~94210059 ~~994~~993.~~49175542~~54964497 0.~~99449176~~99354964 0.~~93400394~~94210059 B-4 0.00000000 0.~~93401330~~94210643 ~~994~~993.~~49175166~~54964523 0.~~99449175~~99354965 0.~~93401330~~94210643 B-5 0.00000000 0.~~93399408~~94210059 ~~994~~993.~~49174556~~54964497 0.~~99449175~~99354964 0.~~93399408~~94210059 B-6 0.00000000 0.~~93400561~~94209329 ~~994~~993.~~49175555~~54966226 0.~~99449176~~99354966 0.~~93400561~~94209329 (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-PO 1,041,073.37 0.00000% 1,~~033~~032,~~728~~489.8503 0.00 0.00 0.00 A-1 163,161,000.00 6.00000% ~~156~~154,~~711~~941,~~531~~793.0420 ~~783~~774,~~557~~708.6697 0.00 0.00 A-2 54,604,000.00 6.00000% 54,604,000.00 273,020.00 0.00 0.00 A-R 100.00 6.00000% 0.00 0.00 0.00 0.00 B-1 2,929,000.00 6.00000% 2,~~915~~912,~~602~~866.0434 14,~~578~~564.0133 0.00 0.00 B-2 1,352,000.00 6.00000% 1,~~345~~344,~~815~~552.6285 6,~~729~~722.0876 0.00 0.00 B-3 1,014,000.00 6.00000% 1,~~009~~008,~~361~~414.7264 5,~~046~~042.8107 0.00 0.00 B-4 451,000.00 6.00000% 448,~~937~~515.0278 2,~~244~~242.6958 0.00 0.00 B-5 338,000.00 6.00000% 336,~~453~~138.9121 1,~~682~~680.2769 0.00 0.00 B-6 451,303.50 6.00000% ~~449~~448,~~239~~817.1361 2,~~246~~244.2009 0.00 0.00 Totals 225,341,476.87 1,~~089~~080,~~104~~225.7249 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-PO 0.00 0.00 0.00 0.00 1,~~032~~031,~~489~~258.03 A-1 0.00 0.00 ~~783~~774,~~557~~708.6697 0.00 ~~154~~153,~~941~~506,~~793~~238.2023 A-2 0.00 0.00 273,020.00 0.00 54,604,000.00 A-R 0.00 0.00 2733.4800 0.00 0.00 B-1 0.00 0.00 14,~~578~~564.0133 0.00 2,~~912~~910,~~866~~106.3492 B-2 0.00 0.00 6,~~729~~722.0876 0.00 1,~~344~~343,~~552~~279.8513 B-3 0.00 0.00 5,~~046~~042.8107 0.00 1,~~008~~007,~~414~~459.6434 B-4 0.00 0.00 2,~~244~~242.6958 0.00 448,~~515~~090.7889 B-5 0.00 0.00 1,~~682~~680.2769 0.00 ~~336~~335,~~138~~819.2178 B-6 0.00 0.00 2,~~246~~244.2009 0.00 448,~~817~~392.6144 Totals 0.00 0.00 1,~~089~~080,~~132~~258.2049 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-PO 1,041,073.37 0.00000% ~~992~~991.~~94524266~~75433716 0.00000000 0.00000000 0.00000000 A-1 163,161,000.00 6.00000% ~~960~~949.~~47174901~~62517513 4.~~80235877~~74812590 0.00000000 0.00000000 A-2 54,604,000.00 6.00000% 1000.00000000 5.00000000 0.00000000 0.00000000 A-R 100.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,929,000.00 6.00000% ~~995~~994.~~42575623~~49175145 4.~~97712871~~97245818 0.00000000 0.00000000 B-2 1,352,000.00 6.00000% ~~995~~994.~~42575444~~49175296 4.~~97713018~~97245562 0.00000000 0.00000000 B-3 1,014,000.00 6.00000% ~~995~~994.~~42575937~~49175542 4.~~97713018~~97245562 0.00000000 0.00000000 B-4 451,000.00 6.00000% ~~995~~994.~~42576497~~49175166 4.~~97713969~~97246120 0.00000000 0.00000000 B-5 338,000.00 6.00000% ~~995~~994.~~42576923~~49174556 4.~~97713018~~97245562 0.00000000 0.00000000 B-6 451,303.50 6.00000% ~~995~~994.~~42576116~~49175555 4.~~97713844~~97246310 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-PO 0.00000000 0.00000000 0.00000000 0.00000000 ~~991~~990.~~75433716~~57190369 A-1 0.00000000 0.00000000 4.~~80235877~~74812590 0.00000000 ~~949~~940.~~62517513~~82677987 A-2 0.00000000 0.00000000 5.00000000 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 ~~274~~330.~~80000000~~00000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 4.~~97712871~~97245818 0.00000000 ~~994~~993.~~49175145~~54964834 B-2 0.00000000 0.00000000 4.~~97713018~~97245562 0.00000000 ~~994~~993.~~49175296~~54965237 B-3 0.00000000 0.00000000 4.~~97713018~~97245562 0.00000000 ~~994~~993.~~49175542~~54964497 B-4 0.00000000 0.00000000 4.~~97713969~~97246120 0.00000000 ~~994~~993.~~49175166~~54964523 B-5 0.00000000 0.00000000 4.~~97713018~~97245562 0.00000000 ~~994~~993.~~49174556~~54964497 B-6 0.00000000 0.00000000 4.~~97713844~~97246310 0.00000000 ~~994~~993.~~49175555~~54966226 (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 024,385.0065 Deposits Payments of Interest and Principal 32,~~004~~513,~~230~~827.7991 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 033,287.0058 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 32,~~004~~547,~~230~~115.7949 Withdrawals Reimbursement for Servicer Advances ~~65,228~~0.5900 Payment of Service Fee 48,~~402~~299.7275 Payment of Interest and Principal 2,~~866~~523,~~213~~201.8339 Total Withdrawals (Pool Distribution Amount) 2,~~979~~571,~~845~~501.14 Ending Balance ~~24,385~~0.6500

PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall ~~293~~0.3900 Servicing Fee Support ~~293~~0.3900 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

SERVICING FEES Gross Servicing Fee 45,~~595~~224.6149 Master Servicing Fee 3,~~100~~075.5027 Supported Prepayment/Curtailment Interest Shortfall ~~293~~0.3900 Net Servicing Fee 48,~~402~~299.7275

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 4575,~~168~~862.7230

SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Original $ Original % Current $ Current % Class% Prepayment% Class A 6,535,303.50 2.90017781% 6,~~499~~493,~~305~~148.4350 23.~~99400113~~01118056% 96.~~991690~~974349% 100.000000% Class B-1 3,606,303.50 1.60037271% 3,~~586~~583,~~439~~041.0958 1.~~65214619~~66162612% 1.~~348268~~356040% 0.000000% Class B-2 2,254,303.50 1.00039439% 2,~~241~~239,~~886~~762.2445 1.~~03275804~~03868395% 0.~~622348~~625936% 0.000000% Class B-3 1,240,303.50 0.55041066% 1,~~233~~232,~~471~~303.6011 0.~~56821693~~57147733% 0.~~466761~~469452% 0.000000% Class B-4 789,303.50 0.35026996% 784,~~955~~212.8222 0.~~36160150~~36367636% 0.~~207603~~208800% 0.000000% Class B-5 451,303.50 0.20027538% 448,~~817~~392.6144 0.~~20675447~~20794082% 0.~~155587~~156484% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.~~207743~~208940% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure

COLLATERAL STATEMENT Collateral Description Fixed 30 Year Weighted Average Gross Coupon 6.~~582930~~581316% Weighted Average Pass-Through Rate 6.000000% Weighted Average Maturity(Stepdown Calculation ) ~~351~~350 Beginning Scheduled Collateral Loan Count ~~511~~507 Number Of Loans Paid In Full 43 Ending Scheduled Collateral Loan Count ~~507~~504 Beginning Scheduled Collateral Balance ~~218~~217,~~854~~077,~~669~~587.3267 Ending Scheduled Collateral Balance ~~217~~215,~~077~~634,~~587~~644.6777 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2002 ~~218~~216,~~448~~988,~~377~~201.1045 Ending Scheduled Balance For Wells Fargo Serviced ~~215~~214,~~677~~236,~~751~~191.2949 Ending Scheduled Balance For Other Servicers 1,~~399~~398,~~836~~453.3828 Monthly P &I Constant 1,~~344~~335,~~721~~309.7385 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2,~~826~~483,~~315~~283.5094 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~171~~170,~~443~~086,~~298~~101.5343 Ending scheduled Balance For discounted Loans 45,~~634~~548,~~289~~543.1434 Scheduled Principal 205,~~445~~735.6128 Unscheduled Principal 1,~~571~~237,~~636~~207.0462 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% ~~149~~148,~~461~~452,~~620~~852.8236 Greater Than 80%, less than or equal to 85% 4,~~943~~939,~~965~~477.9475 Greater than 85%, less than or equal to 95% 62,~~668~~247,~~509~~670.6322 Greater than 95% 0.00

Filing Compare · WELLS FARGO ASSET SEC CORP MORT PASS THR CERT SERIES 2002-1