8-K 1 irw02a.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 New York (governing law of 333-56242-12 N/A Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) 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 Irwin Whole Loan Home Equity Trust 2002-A, Home Equity Loan-Backed Notes, Series 2002-A. 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 Home Equity Loan- Backed Notes, Series 2002-A 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. Irwin Whole Loan Home Equity Trust 2002-A Home Equity Loan-Backed Notes, Series 2002-A. By: Wells Fargo Bank Minnesota, N.A. as Indenture Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 8/05/02 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Home Equity Loan-Backed Notes, Series 2002-A, relating to the August 26, 2002 distribution. EX-99.1 Irwin Whole Loan Home Equity Trust 2002-A Home Equity Loan-Backed Notes, Series 2002-A Record Date: 7/31/02 Distribution Date: 8/26/02 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

Home Equity Loan-Backed Notes, Series 2002-A Irwin Whole Loan Home Equity Trust 2002-A Master Servicer Certificate Remittance Date: ~~July~~August 2526, 2002 Certificate Summary Offered Note Distribution Summary Offered Note Distribution Summary Class of Beginning Note Interest Principal Aggregate Ending Note Notes Note Rate Balance Distribution Distribution Distribution Balance I A-1 2.~~10875~~10688% 4948,~~230~~611,~~000~~002.0029 ~~100~~91,~~930~~037.0582 ~~618~~684,~~997~~948.7199 ~~719~~775,~~927~~986.7681 4847,~~611~~926,~~002~~053.2930 VFN 2.~~10875~~10688% - - - - - II A-1 1.~~98875~~98688% 3230,~~029~~092,~~000~~081.0015 6153,~~928~~146.2909 1,~~936~~587,~~918~~445.8586 1,~~998~~640,~~847~~591.1496 3028,~~092~~504,~~081~~635.1529 II A-2 4.84000% 29,248,000.00 117,966.93 - 117,966.93 29,248,000.00 II A-3 6.45000% 15,783,000.00 84,833.63 - 84,833.63 151 5,783,000.00 II A-IO (1) 10.00000% 9,879,000.00 82,325.00 NA 82,325.00 9,879,000.00 II M-1 6.50000% 8,645,000.00 46,827.08 - 46,827.08 8,645,000.00 II M-2 7.10000% 5,928,000.00 35,074.00 - 35,074.00 5,928,000.00 II B-1 7.50000% 7,162,000.00 44,762.50 - 44,762.50 7,162,000.00 Total ~~148~~145,~~025~~469,~~000~~083.0044 ~~574~~555,~~647~~973.4806 2,~~555~~272,~~916~~394.5685 32,~~130~~828,~~564~~367.0491 ~~145~~143,~~469~~196,~~083~~688.4459 Non-Offered Subordinate Note Distribution Summary Class of Beginning Note Interest Principal Aggregate Ending Note Notes Note Rate Balance Distribution Distribution Distribution Balance X-1 NA 2,~~750~~019,~~000~~946.0086 NA ~~730~~405,~~053~~344.1476 ~~730~~405,~~053~~344.1476 21,~~019~~614,~~946~~602.8610 X-2A NA - - - - -100,208.15 X-2B NA - - - - -400,832.62 II X-IO (1) 0.25000% 9796,~~659~~858,~~484~~081.7515 2321,~~736~~524.6802 NA 2321,~~736~~524.6802 9695,~~858~~771,~~081~~676.1506 Total 2426,~~750,000~~868.0078 ~~23,736.68 730,053.14 753,789.82 2,019,946.86~~ (1) Class A-IO and Class II X-IO Note Balances are Notional LIBOR 1.~~83875~~83688% Interest Period Begin 0607/2025/2002 Interest Period End 0708/2425/2002 Number of Interest Accrual Days: 3532 Days in Collection Period: 3031 Noteholder Distribution Factors Summary (Per $1,000 Original Principal Amount) Class of Original Note Interest Principal Aggregate Ending Note Notes Balance Distribution Distribution Distribution Factor I A-1 49,230,000.00 21.~~05017361~~84923463 1213.~~57358745~~91324375 1415.~~62376106~~76247838 ~~987~~973.~~42641255~~51316880 VFN - 0.00000000 0.00000000 0.00000000 0.00000000 II A-1 32,029,000.00 1.~~93350694~~65931164 6049.~~47390958~~56276700 6251.~~40741653~~22207865 ~~939~~889.~~52609042~~96332342 II A-2 29,248,000.00 4.03333333 0.00000000 4.03333333 1,000.00000000 II A-3 15,783,000.00 5.37500000 0.00000000 5.37500000 1,000.00000000 II A-IO 9,879,000.00 8.33333333 NA 8.33333333 NA II M-1 8,645,000.00 5.41666667 0.00000000 5.41666667 1,000.00000000 II M-2 5,928,000.00 5.91666667 0.00000000 5.91666667 1,000.00000000 II B-1 7,162,000.00 6.25000000 0.00000000 6.25000000 1,000.00000000 148,025,000.00

Pool Collections: Group I Group II Total Aggregate Collections (HELOCs) ~~953~~1,~~604~~406,460.5962 ~~953~~1,~~604~~406,460.5962 Aggregate Collections (HELs) ~~346~~658,~~797~~704.1545 ~~346~~658,~~797~~704.1545 Aggregate Collections (HEL125s) 1,~~592~~668,~~763~~041.0628 1,~~592~~668,~~763~~041.0628 Total Aggregate Collections ~~953~~1,~~604~~406,460.5962 12,~~939~~326,~~560~~745.2173 23,~~893~~733,~~164~~206.8035 Interest Collections (HELOCs) ~~324~~381,~~917~~355.0476 ~~324~~381,~~917~~355.0476 Interest Collections (HELs) ~~211~~232,~~265~~396.8956 ~~211~~232,~~265~~396.8956 Interest Collections (HEL125s) ~~926~~1,~~890~~007,944.7208 ~~926~~1,~~890~~007,944.7208 Total Interest Collections ~~324~~381,~~917~~355.0476 1,~~138~~240,~~156~~340.6164 1,~~463~~621,~~073~~696.6540 Principal Collections (HELOCs) ~~628~~1,~~687~~025,104.5586 ~~628~~1,~~687~~025,104.5586 Principal Collections (HELs) ~~135~~426,~~531~~307.2689 ~~135~~426,~~531~~307.2689 Principal Collections (HEL125s) ~~665~~660,~~872~~097.3420 ~~665~~660,~~872~~097.3420 Total Principal Collections ~~628~~1,~~687~~025,104.5586 ~~801~~1,~~403~~086,405.6009 12,~~430~~111,~~091~~509.1595 Additional Balances Created ~~460~~340,~~215~~155.0087 ~~460~~340,~~215~~155.0087 Additional Balances Purchased ~~460~~340,~~215~~155.0087 ~~460~~340,~~215~~155.0087 Additional Balance Differential - - Net Principal Collections ~~168~~684,~~472~~948.5599 ~~801~~1,~~403~~086,405.6009 ~~969~~1,~~876~~771,354.1508 Principal Collections Distribution Amount ~~168~~684,~~472~~948.5599 ~~801~~1,~~403~~086,405.6009 ~~969~~1,~~876~~771,354.1508 Recoveries - - - Mortgage Loans Repurchased - - - Insurance Proceeds - - - less Servicing Fee 4041,~~649~~859.5647 8183,~~382~~405.9057 ~~122~~125,~~032~~265.4704 Master Servicer Remittance ~~452,740.03~~ 1,~~858~~024,~~177~~445.3128 2,~~310~~243,~~917~~340.~~33 Funds Remitted by the Depositor (Principal) 450,525.~~16 13,~~135~~267,~~515~~785.2544 ~~1,586,040.41~~ Payments in Order of Priority: Group I Group II Total Premium due to Enhancer 8,~~942~~912.9002 8,~~942~~912.9002 Depositor Administrative Services Fee 1,~~219~~215.4928 2,~~441~~421.4945 3,~~660~~636.9773 Class A Interest Distribution ~~100~~91,~~930~~037.0582 ~~347~~338,~~053~~271.8565 ~~447~~429,~~983~~309.9047 II M-1 Interest Distribution 46,827.08 46,827.08 II M-2 Interest Distribution 35,074.00 35,074.00 II B-1 Interest Distribution 44,762.50 44,762.50 Class A Principal Collection Distribution ~~168~~684,~~472~~948.5599 ~~801~~1,~~403~~086,405.6009 ~~969~~1,~~876~~771,354.1508 II M-1 Principal Collection Distribution - - II M-2 Principal Collection Distribution - - II B-1 Principal Collection Distribution - - Class A ~~Distribution of Depositor Funds 450,525.16 1,135,515.25 1,586,040.41 Class A~~ Liquidation Loss Distribution - - - II M-1 Liquidation Loss Distribution - - II M-2 Liquidation Loss Distribution - - II B-1 Liquidation Loss Distribution - - II X-IO Interest Distribution 2321,~~736~~524.6802 2321,~~736~~524.6802 Class A Overcollateralization Increase - -501,040.77 -501,040.77 II M-1 Overcollateralization Increase - - II M-2 Overcollateralization Increase - - II B-1 Overcollateralization Increase - - Other Unpaid Enhancer Expenses - - - Other Unpaid Expenses - - - X-1 Principal Distribution ~~173~~238,~~175~~331.0417 ~~556~~167,~~878~~013.1059 ~~730~~405,~~053~~344.1476 X-2A Distribution - - - X-2B Distribution - - - Total Distributions ~~903~~1,~~265~~024,445.1928 2,~~993~~243,~~692~~340.5616 3,~~896~~267,~~957~~785.7444 Excess Spread ~~173~~238,~~175~~331.0417 ~~580~~689,~~614~~578.7838 ~~753~~927,~~789~~909.8256

Pool Summary Group I Group II Total Beginning Pool Balance (HELOCs) 48,~~779~~611,~~474~~002.8429 48,~~779~~611,~~474~~002.8429 Beginning Pool Balance (HELs) 2221,~~013~~878,~~948~~417.9973 2221,~~013~~878,~~948~~417.9973 Beginning Pool Balance (HEL125s) 7574,~~645~~979,~~535~~663.7642 7574,~~645~~979,~~535~~663.7642 Total Beginning Pool Balance 48,~~779~~611,~~474~~002.8429 9796,~~659~~858,~~484~~081.7515 ~~146~~145,~~438~~469,~~959~~083.5944 Ending Pool Balance (HELOCs) 4847,~~611~~926,~~002~~053.2930 4847,~~611~~926,~~002~~053.2930 Ending Pool Balance (HELs) 21,~~878~~452,~~417~~109.7384 21,~~878~~452,~~417~~109.7384 Ending Pool Balance (HEL125s) 74,~~979~~319,~~663~~566.4222 74,~~979~~319,~~663~~566.4222 Total Ending Pool Balance 4847,~~611~~926,~~002~~053.2930 9695,~~858~~771,~~081~~676.1506 ~~145~~143,~~469~~697,~~083~~729.4436 Beginning Loan Count (HELOCs) 1,~~086~~066 1,~~086~~066 Beginning Loan Count (HELs) ~~490~~486 ~~490~~486 Beginning Loan Count (HEL125s) 1,~~778~~761 1,~~778~~761 Total Beginning Loan Count 1,~~086~~066 2,~~268~~247 3,~~354~~313 Ending Loan Count (HELOCs) 1,~~066~~049 1,~~066~~049 Ending Loan Count (HELs) ~~486~~477 ~~486~~477 Ending Loan Count (HEL125s) 1,~~761~~749 1,~~761~~749 Total Ending Loan Count 1,~~066~~049 2,~~247~~226 3,~~313~~275 Loans Removed from the Trust Group I Group II Total Number of Loans - - - Principal Balance - - - Loss Summary Group I Group II Total Current Liquidation Losses (HELOCs) - - Current Liquidation Losses (HELs) - - Current Liquidation Losses (HEL125s) - - Total Current Liquidation Losses - - - 12 Month Liquidation Losses (HELOCs) - - 12 Month Liquidation Losses (HELs) - - 12 Month Liquidation Losses (HEL125s) - - Total 12 Month Liquidation Losses - - - Aggregate Liquidation Losses (HELOCs) - - Aggregate Liquidation Losses (HELs) - - Aggregate Liquidation Losses (HEL125s) - - Total Aggregate Liquidation Losses - - - Annulalized Group I Loss Percentage 0.00% Rolling 12-Month Loss Percentage 0.00% Cumulative Liquidation Loss Percentage 0.00% 0.00%

Overcollateralization Summary Group I Group II Total Base Overcollateralization Target 1,575,360.00 5,433,725.00 7,009,085.00 180 Days Past Due, REO & Foreclosure Loans ~~121~~21,243.89 NA ~~121~~21,243.89 Total Overcollateralization Target Amount 1,~~696~~596,603.89 5,433,725.00 7,~~130~~030,328.89 Beginning Overcollateralization Amount ~~0.00~~- - ~~0.00~~- Overcollateralization Increase Amount ~~(0.00)~~ - (0501,040.~~00)~~77 501,040.77 Overcollateralization Release Amount - - - Ending Overcollateralization Amount - -501,040.77 -501,040.77 Group I Group II Cumulative Liquidation Loss Percentage 0.00% 0.00% Loss Test Satisfied? Yes Yes Loss Test Targets: Group I Group II Collection Periods 1 to 24 1.50% Collection Periods 25 to 48 3.35% 9.50% Collection Periods 49 to 60 4.00% 11.25% Collection Periods 61 to 84 4.50% 11.75% Collection Periods 85+ 4.50% 12.25% Senior Enhancement Percentage 2122.0944% 17.75% of the Senior Enhancement Percentage 2.4864% 3-Mo. Rolling Average 60-Day Delinquency % 0.1028% Group II Delinquency Test Satisfied? Yes Annualized Interest Collections Rate 79.~~993~~414% Annulalized Group I Loss Percentage 0.000% Group I Excess Cash Rate 79.~~993~~414% Group I Initial Excess Spread Rate 5.462% Group I Excess Cash Rate Test Satisfied? Yes Balance of 3 Largest Group I Loans 1,086,282.47 Overcollateralization Targets Group I Group II Total Initial Principal Balance 49,230,000.00 98,795,000.00 148,025,000.00 Initial Target (% of Initial Principal Balance) 3.20% 5.50% Step-down Target (% of Current Balance) 6.40% 11.00% Triggered Target (% of Initial Principal Balance) 4.80% Step-down Date January 25, 2005 July 25, 2005 3-Mo. Rolling Average 90-Day Delinquency % 0.2521% Net Loan Rate 7.~~355~~344% Rapid Amortization Event: None Servicing Default: None

Delinquency Summary Group I Group II Group II Group II Grand HELOCs HELs ~~HEL125s~~HEL 125s Total Total Current Loans # Balance # Balance # Balance # Balance # Balance Bankrupt 1 4220,~~932~~886.1877 - - 2 8872,~~389~~420.9516 2 8872,~~389~~420.9516 3 ~~131~~93,~~322~~306.1393 REO - - - - - - - - - - Foreclosure 1- ~~100,000.00~~- - - - - - - 1- ~~100,000.00~~- Total 21 ~~142~~20,~~932~~886.1877 - - 2 8872,~~389~~420.9516 2 8872,~~389~~420.9516 43 ~~231~~93,~~322~~306.1393 30 - 59 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 2 4043,~~566~~000.6300 15 44111,~~655~~543.9585 128 ~~383~~253,~~157~~296.03 13 ~~427~~364,~~812~~839.9888 15 ~~468~~407,~~379~~839.6188 Bankrupt - - - - 31 ~~103~~39,~~577~~262.9019 31 ~~103~~39,~~577~~262.9019 31 ~~103~~39,~~577~~262.9019 REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total 2 4043,~~566~~000.6300 15 44111,~~655~~543.9585 159 ~~486~~292,~~734~~558.9322 1614 ~~531~~404,~~390~~102.8807 1816 ~~571~~447,~~957~~102.5107 60 - 89 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent 1 6229,~~000~~295.0037 1- ~~20,209.25~~- 27 72250,~~272~~944.6421 37 92$250,~~481~~944.8921 48 ~~154~~280,~~481~~239.8958 Bankrupt - - - - -3 -103,577.90 -3 -103,577.90 -3 -103,577.90 REO - - - - - - - - - - Foreclosure 1- ~~21,243.89~~- - - - - - - 1- ~~21,243.89~~- Total 21 8329,~~243~~295.8937 1- ~~20,209.25~~- 210 72354,~~272~~522.6411 310 92354,~~481~~522.8911 511 ~~175~~383,~~725~~817.7848 90 - 119 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent -1 -62,000.00 - - -2 -44,770.92 -2 -44,770.92 -3 -106,770.92 Bankrupt - - - - -1 -47,400.00 -1 -47,400.00 -1 -47,400.00 REO - - - - - - - - - - Foreclosure -1 -21,243.89 - - - - - - -1 -21,243.89 Total -2 -83,243.89 - - -3 -92,170.92 -3 -92,170.92 -5 -175,414.81 120 - 149 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - - - - - - - - - Bankrupt - - - - - - - - - - REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total - - - - - - - - - - 150 - 179 Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - - - - - - - - - Bankrupt - - - - - - - - - - REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total - - - - - - - - - - 180 or More Days Past Due # Balance # Balance # Balance # Balance # Balance Delinquent - - - - - - - - - - Bankrupt - - - - - - - - - - REO - - - - - - - - - - Foreclosure - - - - - - - - - - Total - - - - - - - - - - Total Bankrupt 1 4220,~~932~~886.1877 - - 57 ~~191~~262,~~967~~660.8525 57 ~~191~~262,~~967~~660.8525 68 ~~234~~283,~~900~~547.0302 Total REO - - - - - - - - - - Total Foreclosure 21 ~~121~~21,243.89 - - - - - - 21 ~~121~~21,243.89

Filing Compare · BEAR STEARNS ASSET BACKED SEC INC IR WH LN HM EQ TR 2002-A